A recent report from LendingTree reveals that more than 4 in 10 users (41%) of buy now, pay later loans (BNPL) say they paid late on at least one of them in the past year. This figure is up from 34% one year ago. In addition, LendingTree found that many borrowers who take out these loans use them to buy groceries or takeout and believe that successfully managing one of them will boost their credit score – which they say it will not.
Click here to read the full report at LendingTree.
