People are turning to BNPL loans to pay for rent, food and other necessities

TL;DR

BNPL loans, initially for non-essentials, are now used for rent, groceries, and medical costs.
Consumer advocates warn that using BNPL for necessities is risky due to obscured costs and potential fees.
The increased use of BNPL for essentials reflects widespread financial struggles due to high inflation and living costs.
BNPL loans allow consumers to split payments, often without interest, and are easily accessible without credit checks.
A significant portion of BNPL users report they wouldn't be able to make ends meet without these loans.
BNPL products can lead to deeper debt through multiple loans, hidden fees, and overdrafts.
Companies like Affirm and Flex offer BNPL options for rent and bills, sometimes with membership or processing fees.

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