‘Things spiralled out of control’

Helen, whose name has been changed to protect her identity, reveals how she struggled with debt caused by BNPL schemes

‘I’m an avid shopper and I was delighted when my favourite retailer offered Buy Now Pay Later. This was before the pandemic, when there were still places to be and people to see, but I was on a low income and having to wait until payday was frustrating, as sites often made me feel my dream buy would have sold out by then. Once I started using Buy Now Pay Later, I soon found I was buying more and more. In fact, I was buying something – clothes or stuff for the house which I didn’t need – every day. I knew I was living beyond my means, but I was so addicted that on days when I didn’t buy something, I felt disappointed. I wasn’t keeping track of what I was spending and started

missing payments. The situation got worse when I was made redundant last year. By then, I had over £1,000 of debt with two different BPNL companies and was getting letters and phonecalls asking me to pay. I felt panicked and anxious, as the situation seemed out of my control, so I contacted Stepchange for help. On their advice, I asked my BNPL providers for a payment extension. I was so relieved when they agreed; this gave me time to sort things out. Stepchange also helped me put together a monthly payment plan to clear my debt. I got a temp job, stopped spending so much and, nine months on, I’m debt-free. I’d advise anyone to be so careful with BPNL. Now I’m living within my means and saving up when I want a treat.’

15% of Brits now use BPNL to pay for purchases whenever it is available – triple the number of shoppers a year ago*.