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Australia

Shoppers forego essentials to repay buy now pay later debt

Choice Managing Editor Margaret Rafferty says buy now pay later schemes are “easy” to sign up for as people who have multiple accounts end up foregoing essentials to pay back loans.
“It’s very easy to sign up to them and we’ve heard stories of people having multiple accounts across different providers,” Ms Rafferty told Sky News Australia.

“They are so busy paying back those instalments and so stretched in order to do that that they are going without other essentials in order to pay back that debt.”

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