Households owe £2.7bn BNPL debt

29th August 2023 Arrears and Recoveries | #BNPL debt

Latest analysis of Bank of England data has found that around 3.1 million households owe £2.7 billion in buy now, pay later (BNPL) borrowing. Research by Bank economists Gerry Gunner and James Waddell looked at a survey from March 2023 and found that 11% of UK households reported owing money on BNPL. The average balance…

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Two fifths borrow to pay off Buy Now Pay Later

More than two in five Buy Now Pay Later (BNPL) customers borrowed money to make repayments research bt Citizens Advice has found. The types of borrowing included overdrafts, borrowing from friends and family, loans and payday loans. The most popular was credit cards (26%). Younger shoppers were most likely to borrow to pay off BNPL…

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