POUND NOTES
One in 10 (10%) shoppers who use buy now pay later have been chased by debt collectors, according to Citizens Advice.
Around one in eight (12% ) 18 to 34-year-old customers using the service had received contact from or been referred to debt collectors, the charity’s research also found.
These options often appear at checkouts on retailers’ websites. They can help spread the cost of purchases, interestfree, potentially avoiding expensive credit.
However, there have been concerns that some people end up spending more than intended and slide into debt that they cannot comfortably pay back.
Citizens Advice estimates from its latest research that shoppers using these agreements across the UK were collectively charged £39 million in late fees in the past year.
It commissioned a survey of more than 2,000 adults across the UK in July, who had used the service in the previous 12 months.
The charity said debt collectors do not typically visit someone’s home, although this occasionally can happen, and they do not have rights to take belongings.
Shopping destinations saw footfall continue to recover last month as staycations helped boost spending.
The latest footfall monitor by retail researchers Springboard showed footfall in August was 18.6% lower than the same month in 2019 but this was a significant improvement against July, which had seen a 24.2% decline.
Springboard said it highlighted progress in the recovery of shopper numbers, with the fall dipping below 20% for the first time since the pandemic started.
Diane Wehrle, marketing and insights director, said footfall activity, particularly in high streets, was boosted by “the popularity of staycations and daycations in August”.