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Economy
A home Depot employee moves a TV on Black Friday.
BNPL plans can lower the burden of big purchases, but come with big risks.

Boston Globe via Getty Images

  • Buy now, pay later plans gained popularity in 2023 as an alternative to high-interest credit cards.
  • The risk of these loans is high and many are now due following the holiday.
  • These debts could also become a burden for the economy but no one knows the true extent of its use.

One of the trendy ways to finance purchases is about to come back to haunt the US economy and no one knows how big of a problem it is.

Tags
economy, buy-now-pay-later-bnpl, consumer-spending, us-economy-and-markets, consumer-debt, warren-buffett, wells-fargo, holiday-spending
Source
The 'phantom debt' of buy now, pay later is growing and will soon hit some Amer…