Citizens Advice braced for new year of debt support as increased numbers turn to Buy Now Pay Later

by | 6 January 2024 | Citizens Advice, Sherwood

New research by Citizens Advice found more than one in four UK adults (28% – the equivalent of 15.1 million people) said they were 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 cover the costs of their essentials – like groceries and bills – are more likely to have been a regular user of BNPL in the last 12 months.

The government committed to regulating BNPL in 2021 as a matter of priority, but work has stalled. Citizens Advice warns these continued delays are putting consumers – many already facing tough financial situations – at risk of being exposed to unmanageable levels of debt and even bailiff action. This is because BNPL lending does not require any affordability checks, unlike other credit options.

The charity’s advisers have also seen a 67% increase in people seeking help from Citizens Advice with BNPL debt in the last 12 months.

Contact Citizens Advice Sherwood and Newark for information and advice

In person

  • Newark office: Castle House, NG24 1BY – Tuesday and Thursday, 9.30am to 2.30pm
  • Ollerton office: 5 Forest Court, NG22 9PL – Monday and Wednesday. 9.30am to 2.30pm
  • A drop in session including at Bilsthorpe Library: 1 The Crescent, NG22 8QX – Wednesdays, 9.30am to 12.30pm
  • Clipstone Village Hall: 90 Church Road, NG21 9DL – Thursdays, 9.15am to 1.00pm
  • Sutton on Trent Library: Methodist Church Hall, High Street, NG23 6QA – second Tuesday of every month, 1.30pm to 4.30pm

Phone

  • Local office: 01623 861769 – you may be offered a call back
  • Adviceline: 0800 144 88 48 or Relay UK – if you can’t hear or speak on the phone, you can type what you want to say: 18001 0800 144 8884 – Monday to Friday, 9.00am to 5.00pm

Chat online to an advisor

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