Buy Now Pay Later

Buy now, pay later options are on the rise.  The most popular players in this space – Klarna, Afterpay, Affirm, and Zip – are everywhere. They’re not just options. They’re default features, embedded into the checkout flow of almost every major retailer.  Even Door Dash now has options which allow you to pay for your burrito later.

Most offer 0% interest and when used responsibly, they can help as a cash flow tool to carry someone until their next paycheck for instance.

It’s easy access, no real credit checks, frictionless credit with a few mouse clicks or phone taps.

The biggest margins for these companies come from consumers who rely on this type of financing for nearly everything.

The problem arises with overspending.  Impulse buys are far easier.  You’ve probably also heard that for services that charge nothing, your data is being bought and sold.

If you are relying on Buy Now, Pay Later services, you probably need to consider bankruptcy to really get a fresh start on things.  Get rid of overhanging debt and start to build a future which allows things like investing. Buy Now, Pay Later is a stopgap measure at best for most.  Reboot your life instead.

If you are in a county surrounding Tampa Bay, Florida, please reach out to us for a free bankruptcy consultation to see whether or not it’s worthwhile to consider.