One of the important changes in the last decade is the rise in the consumption of products and services on Buy Now Pay Later, as many low-income households are using these products to buy household items. In this month’s Debt Talk podcast, Ripon Ray discusses ‘Indebted with Buy Now Pay products’. To address this pressing subject, Sean Breen from the Consumer Council for Northern Ireland and Gulsah T from Bromley Citizens Advice Bureaux Limited highlight some of the issues faced by communities struggling with buy-now-pay-later products and services. Sean Breen , Director of Financial and Postal Service from the Consumer Council for Northern Ireland , explains that, based on their research, most consumers are from low-income households. They are already struggling with their finances and must be made aware of the consequences of non-payment, such as not being covered by the Financial Ombudsman Service Compensation Scheme. Many of them are also prone to being attracted to ill
Monthly Debt News looks at debts and the causes of debts in Britain from sources selected for professionals to make the debt sector simple. This month’s Debt News will look at Scottish councils raising bankruptcy threats, lack of income can increase council tax for Birmingham, a mother’s universal credit stopped after giving an appointment at a closed office, an attacker tried murdering over a debt, a council was fined for taking a man to court for council tax. Labour pushes for regulating Buy Now Pay Later. You can find national data to look at the causes of debts in the UK. ——————— NEWS ——————— Scottish councils raise bankruptcy threat over SNP demand to maintain teacher numbers Scottish council chiefs have warned the SNP’s determination to maintain teacher numbers could help push local authorities to the brink of bankruptcy. More here: Link ——————- Lack of confidence council can balance books Commissioners overseeing Birmingham City Council's financial crisis are "