‘Buy Now, Pay Later’: A New Wave of Consumer Debt

As people in the United States struggle with rising costs, they are increasingly turning to “buy now, pay later” loans for essentials such as rent and groceries. Stacey Cowley, a business reporter for The New York Times, explains the draw and the hidden risks of the loan model. Guest: Stacy Cowley, a business reporter at The New York Times, with a focus on consumer finance. Background reading: “Buy now, pay later” lenders have pitched loans for needs like electricity and rent. They got to live a life of luxury. Then came the fine print.