Citizens Advice responds to Buy Now Pay Later consultation
Matthew Upton, Director of Policy at Citizens Advice, said:
"At Citizens Advice we’ve been calling on the Government to urgently push on with regulating Buy Now Pay Later for years - this consultation has been a long time coming.
“Buy Now Pay Later borrowing can be like quicksand - easy to slip into and very difficult to get out of. As living costs continue to spiral, we know some people are using it to simply make ends meet, without being fully informed about what they are signing up to or properly protected.
“These reforms should give the industry the overhaul it needs. But action is needed quickly, every day without regulation is another day people are left unprotected.”
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Notes to editors:
- Citizens Advice is made up of the national charity Citizens Advice; the network of independent local Citizens Advice charities across England and Wales; the Citizens Advice consumer service; and the Witness Service.
- Our network of charities offers impartial advice online, over the phone, and in person, for free.
- Citizens Advice helped 2.55 million people face to face, over the phone, by email and webchat in 2021-22. And we had 40.6 million visits to our website. For full service statistics see our monthly publication Advice trends.
- Citizens Advice service staff are supported by more than 18,500 trained volunteers, working at over 2,500 service outlets across England and Wales.
- You can get consumer advice from the Citizens Advice consumer service on 0808 223 1133 or 0808 223 1144 for Welsh language speakers.