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Martin Lewis issues warning against Buy Now Pay Later schemes

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direct to your inboxMoney saving expert Martin Lewis has issued a stark warning to people using or considering signing up for ‘Buy Now Pay Later’ schemes.On his Money Show Live programme, he told viewers to think before using firms such as Klarna, Clearpay and Laybuy, warning that they can get you into debt.“You will have seen it there, instead of letting you pay normally in some cases they give you the option to ‘pay in three interest-free instalments’,” he said on the ITV show.“This is being marketed often at young people - it’s even been talked about in some ways as a lifestyle choice - but it is not.“It is a debt,” Martin emphasised, “and it should be treated as a debt.”‘Buy Now Pay Later’ schemes have exploded in popularity recently,.

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