Consumer Alert: The risks of buy now, pay later services ...Middle East

ROCHESTER, N.Y. — Buy Now, Pay Later (BNPL) services can be appealing if you pay off your item in four to six installments. However, the risk lies in the bi-weekly payment schedule, which can lead to unexpected costs if you miss a payment. The simplicity of BNPL is part of its allure. With no credit check and just a few clicks, it’s easy to use. Many consumers find themselves overwhelmed by multiple BNPL loans, often for numerous small purchases rather than one large item. The bi-weekly payments make it easy to lose track, and missing a payment can result in fees as high as 25% of the purchase price. Moreover, these companies can report missed payments to credit bureaus. Experts warn that a

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