National Debtline welcomes Buy-Now-Pay-Later regulation
National Debtline responds to the introduction of regulation for Buy-Now-Pay-Later products
Posted October 17, 2024
National Debtline has responded to the Government’s announcement on regulating Buy-Now-Pay-Later products.
Steve Vaid, chief executive of the Money Advice Trust, the charity that runs National Debtline, said:
“Today’s announcement is an important milestone in introducing Buy-Now-Pay-Later regulation, something we have long called for.
“Buy-Now-Pay-Later products can provide a way to spread costs for purchases, but it is vital that any lending is affordable and that people aren’t burdened with unmanageable repayments.
“Regulation will increase protections when using these products, and we need to see the Government and the FCA acting swiftly to put this in place.
“Our National Debtline advisers are here to help anyone worried about Buy-Now-Pay-Later debt, or their wider financial situation.”
National Debtline provides free, independent, expert advice. Contact National Debtline for free on 0808 808 4000 or via www.nationaldebtline.org