Buy Now Pay Later has crept into the mainstream but for many, it leads to debt and distress. New rules are a welcome step. But lenders must go further by signposting to free debt advice before harm is done.
Buy Now, Pay Later has crept into the mainstream - and for many, it’s become a default way to shop. But while it’s pitched as flexible and interest-free, the reality for too many people is missed payments, mounting fees, and unaffordable debt.
The numbers speak for themselves: usage has tripled in just three years, with over 17 million people in the UK now using BNPL services - often without fully understanding the risks. At Debt Free Advice, our advisors are seeing more people caught out by this type of credit, especially when it’s stacked alongside rising bills, rent, and other borrowing.
Regulation is overdue. These new rules are a welcome step - they’ll mean clearer terms, better checks on affordability, and access to redress when things go wrong. But lenders must go beyond the bare minimum. That means proactively signposting to free, independent debt advice when people are struggling - not just tightening access after the damage is done.
Hear our Managing Director, Matt Dronfield, spoke to Matthew Wright on LBC Radio.
If you’re worried about BNPL or any kind of debt, don’t wait until it feels unmanageable.
Call us on 0800 808 5700, or speak to an advisor via webchat. We’re open 8am to 8pm, 7 days a week, and all our support is free, impartial and confidential