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A third of UK ‘buy now, pay later’ users say they can’t handle payments

Research finds BNPL shoppers now paying off average of 4.8 purchases since cost of living began to surge

Almost a third of shoppers who use buy now, pay later credit say repayments on the loans have become “unmanageable”, with the cost of living crisis pushing them into a debt spiral, new research has found.

Consumers are spending more via the controversial form of credit, with shoppers who use BNPL now paying off an average of 4.8 purchases – almost double the 2.6 purchases in February, the research found. The average BNPL user’s outstanding balance currently stands at £254.

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