Business / NEWS UPDATE
Don't get caught out by new Buy Now Pay Later rules
Published · 1 min read
New regulations for Buy Now Pay Later (BNPL) services, effective since July, include stricter affordability checks that could block purchases for those deemed unable to repay.
Affordability varies based on the purchase amount, and the festive season approaches, making it crucial to manage spending. Tips include slowing down purchases, being cautious with subscriptions, and seeking help from debt charities. The MoneyHelper website offers resources for managing debt and understanding financial entitlements.