Credit, Collections & Insolvency News
With just three months until new buy now pay later (BNPL) regulations come into force on 15th July 2026, RSM UK warns firms need to ensure they are fully prepared for the changes now, or face no longer being authorised to provide credit to consumers. Zoe Morton, Consulting Director at RSM UK said “Firms providing…
Read more
A study by the University of Bristol’s Personal Finance Research Centre and Aberdeen Group Charitable has shown a sharp increase in those aged 40-59 using Buy-Now-Pay-Later loans (BNPL). These loans are currently accessed by 18% of households (up from 15% in May 2025), and while BNPL use is highest among younger households, growth has been…
Read more
The Financial Conduct Authority (FCA) has outlined new measures for Buy Now, Pay Later (BNPL) lending, which will aim to simplify information for borrowers whilst ensuring income checks and support for those in financial difficulty. Lenders must now be authorised and comply with the FCA’s Consumer Duty, ensuring clearer information on agreements and affordability checks.…
Read more
A new report from Lloyds Merchant Services has found that consumers are increasingly looking for payment flexibility. 61% of adopters say they are more likely to shop with a retailer offering Buy Now Pay Later (BNPL), rising to 63% for point-of-sale (POS) finance. Half (50%) are comfortable using BNPL for mid-ticket purchases between £100 and…
Read more
New research by Mojo Mortgages has found that 89% of the top 100 most trending Christmas presents can be purchased through Buy Now Pay Later (BNPL) methods. The research also showed that 75% of these products promote BNPL options on their product pages, enticing consumers to make purchases they might not have planned for or…
Read more
New research from credit reference agency Equifax has revealed that the number of consumers using Buy Now, Pay Later (BNPL) could have peaked, but average spending continues to grow and will be key for many this Christmas. Four in ten (38%) consumers now indicate they have made use of BNPL, down from almost half (48%)…
Read more
Shoppers who use Buy Now, Pay Later (BNPL) loans are to get new safeguards against unaffordable borrowing and credit card-style protection for their purchases, under rules outlined by the Government. Buy-Now, Pay-Later products have become increasingly popular in recent years as they allow people to spread the cost of purchases over time, but users currently…
Read more
An organisation providing free debt help has warned it is seeing a concerning change in how buy now, pay later (BNPL) is being used. Money Wellness says it has seen a threefold increase in the number of people seeking debt help with BNPL debts over the past 12 months. But the most significant change is…
Read more
New research by CreditSpring has found that 6.7 million young people (aged 18-34) across the UK don’t know that using buy now, pay later (BNPL) can lead to debt. The research showed that mearly half (46%) of young people remain unaware BNPL can lead to debt, much higher than the 35% UK average. BNPL is…
Read more
Nearly a quarter (22%) of Buy Now Pay Later (BNPL) users have missed one or more repayments in the six months to December 2023, leading to late payment fees and in a quarter of cases, a mark against their credit score too according to data from the nonprofit Centre for Financial Capability (CFC). More than a…
Read more
New research by Citizens Advice finds more than one in four adults (28% – the equivalent of 15.1 million people) say they’re likely to use Buy Now Pay Later (BNPL) to help with festive spending. This rises to 56% of parents with primary school-aged children. The findings come as the charity reveals those unable to…
Read more
A third of people (31%) still don’t think that Buy Now Pay Later (BNPL) purchases can lead to debt, however, this jumps to over half (51%) for those aged 18-24 who are a third more likely to use BNPL than the UK average according to research from lender, Creditspring. Almost one in three (29%) of people…
Read more
Almost half of adults (48%) have used Buy Now, Pay Later (BNPL) to spread the cost of purchases. In 2023, 7.4 million more people used BNPL compared to the year before. The increased usage of BNPL, isn’t expected to slow down as we enter the busy festive shopping period, in fact it has become essential…
Read more