You may have taken out a Buy Now, Pay Later (BNPL) loan, thinking it’d be a simple way to break a purchase into smaller payments. But if you’ve missed a payment — or you’re juggling several BNPL plans at once — you might be wondering what happens next. And more importantly, if you’re struggling, is BNPL eligible for debt relief? We spoke with an expert to break down how BNPL fits into the debt-relief world, what makes it different from traditional loans and what you should know before taking one out.
Does BNPL qualify for debt relief?
BNPL can qualify for debt relief, but it’s not as straightforward as traditional debt, like credit cards or personal loans. That’s because BNPL companies operate differently from banks and credit…