Minister told of buy now, pay later 'ticking timebomb'

A Stuff article.

People sinking under unmanageable debt are able to get multiple buy now, pay later loans, Minister of Consumer Affairs David Clark has been told.

Christians Against Poverty is calling on Clark to bring buy now, pay later loans under responsible lending laws, which would require the providers to conduct credit and affordability checks to ensure borrowers really can afford the repayments.

New Zealand now has a range of providers offering shoppers the option of paying off their purchases over a number of weeks, interest-free.

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