Credello: BNPL Users Are Really Struggling Right Now

Share This Post

Credello: You might have heard the term BNPL before. It stands for "buy now, pay later." This is a way of buying something, usually a larger purchase. You might use the BNPL method to buy a living room set or a new washer and dryer.

BNPL can be beneficial, but it's also possible to get yourself into trouble with it. We'll talk about why some consumers who have used the BNPL model aren't having the best time right now. We'll also go over the benefits of debt consolidation since that factors into this conversation.  

How BNPL Works

The buy now, pay later method works well if you want to get something and bring it home that same day, but you do not have the cash to pay for it outright. This might happen if you see some decorative item that will look good in your home or perhaps one with a practical purpose.

If you buy now and pay later, you might put some money down, and then you agree you will pay the rest during a certain designated period. The business entity from which you're buying the item might give you a grace period of three months, six months, or perhaps as long as a year, during which you need to make no payments.

The Possible Danger

If you want something badly, you might not worry about the future much. You just want that item, and you feel like you'll have plenty of time to pay it off within the next couple of years. Maybe you can do that with no problems.

Where things get tricky is if you lose your job or something else unforeseen happens while you assumed you would be paying off the rest of the item's price. If that happens, you're still on the hook for the rest of that money, even though you're not sure how you'll pay it.

Why Individuals Who Did BNPL Aren't So Happy

Some of those who did BNPL in 2019 or during 2020's earliest days didn't know the pandemic was coming. When it arrived, it blindsided them. 

Maybe they couldn't work for months, and they used most of their savings. Now, the rest of the money is due on those BNPL items. They may not have the cash to pay off the outstanding debt, though.

What's the Solution?

No two individuals or families will want to get out of debt the same way. You must look at your situation carefully and determine the best path forward.

Many who did BNPL and now don't have the money to pay off the remainder of their outstanding debt are turning to debt consolidation options, though. Debt consolidation can help you lower your overall interest rates by combining all your debts into a single loan with a lower interest rate.

Debt consolidation can help reduce the stress of dealing with multiple creditors and managing various payment schedules and it can improve your credit score over time by reducing your credit utilization ratio and making it easier to make timely payments. 

Use BNPL Cautiously

No one who used BNPL could have known a pandemic was on the horizon, but still, you can take a lesson from all this. The BNPL method is risky because you don't know what the future holds. 

Usually, it's better to only buy something if you can afford to pay for it all at once. If you purchased something using BNPL and are now trying to pay off what you owe, consider debt consolidation. It might make the most sense from a financial standpoint.  

About Credello

Credello is a financial tech company offering a personal finance tool that simplifies financial decisions through personalized, on-demand recommendations — so users can borrow, save, or invest with confidence. Credello believes that finding the right financial product should be as easy and interactive as online shopping, and we are on a mission to make that possible. For more information, please visit

Contact Information:
Keyonda Goosby
Public Relations Specialist
(201) 633-2125

Original Source: Credello: BNPL Users Are Really Struggling Right Now

Related Posts

U.S. News & World Report Recognizes 28 Arbor Company Communities for Best Senior Living

U.S. New & World Report recently recognized 28 Arbor Company locations as 2023-2024 Best Senior Living Communities. The Arbor Company Residents T...

ARuVR Becomes First XR Platform to Be Awarded ‘Accredited’ Provider Status by LPI

- ARuVR® awarded 'Accredited Learning Technologies' provider status for its enterprise-grade Extended Reality (XR) training platform - LPI recognises ARuVR® as forerunner in rapidly growing XR industry

ARuVR®, a multi-award-winning end-to-end Extended Reality (XR) training platform for enterprises, today announced that it has been awarded the status of Accredited Learning Technologies Provider by the LPI (Learning and Performance Institute), the leading global authority on workplace learning and development.

ARuVR® counts Coca-Cola, BT, Royal Air Force, Five Guys, ScotRail, NEOM, Amazon, and PWC among a rapidly growing international customer base and is the first and only XR provider on both the UK Government's CCS digital outcomes and specialists framework, and Crown G-Cloud-approved supplier lists. ARuVR® enables organisations to quickly and easily leverage the location-agnostic convenience and results-driven benefits of XR (Virtual and Augmented Reality) all from a single platform, to create and deliver immersive training programmes. 

ARuVR®'s LPI Accredited Learning Technologies Provider status recognises the company's dedication to high quality and process improvement in providing learning, development, and training services to clients. This accreditation covers the Extended, Augmented and Virtual Reality products and professional services supplied by ARuVR® to their clients on a worldwide basis. ARuVR® followed a rigorous and in-depth process and was assessed on several key performance indicators, including business integrity, client value proposition, delivery capability, quality and performance management, people development, and business stability. ARuVR®'s overall KPI score was near an outstanding 100% across all sections.

Edmund Monk, CEO of the LPI, said: "We have extremely high standards for accreditation, and we are proud to commend ARuVR on their achievement. We work with our accredited organisations to ensure that they not only meet our standards but that they continue to improve. This way, organisations can be confident that they are working with the best." 

The LPI is the foremost accreditation and membership body for the learning and development profession with a global reputation. The accreditation process employs a highly robust framework, developed over many years by learning experts and validated by data from thousands of organisations to measure, benchmark and improve the capability and performance of learning professionals and learning providers.

Frank Furnari, CEO & Founder, ARuVR®, said: "As the market for XR training solutions grows exponentially, we are delighted to be the first in the sector to achieve accreditation status by the LPI. We are committed to providing our global clients with not only the highest levels of quality and service but also to bring AR and VR to the training industry, in a way in which any organisation can embrace and benefit from."

Contact Information:
Andrew Durkin
0044 7887998407

Original Source: ARuVR Becomes First XR Platform to Be Awarded 'Accredited' Provider Status by LPI

Keen’s Buildings Extends Partnership With RJ Hampshire for the 2023 Pro Motocross Season

"RJ is an incredibly talented rider, and we have no doubt that he has what it takes to bring home the championship this year," Keen stated.

Keen’s Buildings Extends Partnership With RJ Hampshire for the 2023 Pro Motocross Season
RJ Hampshire #24

RJ Hampshire, Kicking off the 2023 Pro Motocross Championship Season with Keens Buildings and the Rockstar Energy Husqvarna Factory Racing Team

Keen's Buildings, a leading provider of high-quality storage solutions, is thrilled to announce the extension of their partnership with RJ Hampshire #24 for the upcoming 2023 Pro Motocross Championship season. RJ Hampshire, an accomplished rider representing the Rockstar Energy Husqvarna Factory Racing Team, has proven to be an outstanding brand ambassador for Keen's Buildings.

Kevin Keen, CEO of Keen's Buildings, expressed his excitement about the continued collaboration with RJ Hampshire. "We are excited to extend our partnership with RJ for the 2023 Pro Motocross season," said Keen. "RJ has been an incredible asset to our brand, and we are confident in his abilities to excel on the track."

As a prominent figure in the motocross industry, RJ Hampshire has showcased immense talent, determination, and sportsmanship throughout his career. His achievements on the track and his dedication to his craft align perfectly with Keen's Buildings' values and commitment to excellence.

The partnership between Keen's Buildings and RJ Hampshire has proven to be mutually beneficial. It not only highlights the shared passion for motorsports but also underscores the importance of quality, durability, and reliability - qualities that both Keen's Buildings and RJ Hampshire embody.

With the 2023 Pro Motocross season on the horizon, Keen's Buildings and RJ Hampshire are eager to pursue their shared goal of championship success. Kevin Keen has expressed his confidence in RJ's abilities and believes that "RJ is an incredibly talented rider, and we have no doubt that he has what it takes to bring home the championship this year," Keen stated.

The 2023 Pro Motocross Championship, Race Schedule kicks off tomorrow, May 27, 2003, at the Fox Raceway in Pala, CA.

The extended partnership between Keen's Buildings and RJ Hampshire signifies the continued commitment to excellence and the shared vision of pushing boundaries and achieving greatness in the world of motocross.

About Keen's Buildings:

Keen's Buildings is a trusted provider of high-quality storage sheds, metal garages, carports and steel buildings, offering customized solutions to meet diverse storage needs. With over 75,000 installs and an unwavering commitment to craftsmanship, durability, and customer satisfaction, Keen's Buildings has established itself as a leading name in the industry.

About RJ Hampshire:

RJ Hampshire, representing the Rockstar Energy Husqvarna Factory Racing Team, is a highly talented and respected motocross athlete. With an impressive track record and a relentless drive for success, RJ has established himself as a prominent figure in the sport.

Contact Information:
Craig Heineman
(386) 364-7995

Original Source: Keen's Buildings Extends Partnership With RJ Hampshire for the 2023 Pro Motocross Season
green agriculture project
- Part of VUGA Media group -best seo company