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What happens if you agree to a BNPL but you BNDP (buy now, dont pay): https://www.consumerfinance.gov/ask-cfpb/what-happens-if-i-cant-pay-back-a-buy-now-pay-lat

What happens if you agree to a BNPL but you BNDP (buy now, dont pay): https://www.consumerfinance.gov/ask-cfpb/what-happens-if-i-cant-pay-back-a-buy-now-pay-later-bnpl-loan-en-2116/ https://www.consumerfinance.gov/ask-cfpb/what-happens-if-i-c... Hidden costs of BNPLs: https://slate.com/technology/2022/11/buy-now-pay-later-hidden-costs.html https://slate.com/technology/2022/11/buy-now-pay-later-hidde... "I’m sure you’ve read a ton of stories that Gen Z is using “buy now, pay later,” all the time. The most recent Consumer Financial Protection Bureau pointed out that actually the biggest age cohort for “buy now, pay later” users are people ages 34–40. They’re millennials." People with low/no credit are usually denied. NYTimes article about downsides of BNPLs: https://www.nytimes.com/2022/12/29/your-money/buy-now-pay-later-loans.html https://www.nytimes.com/2022/12/29/your-money/buy-now-pay-la...

balozi 4y ago
On a philosophical tangent, if you BNDP (buy now, don't pay), did you actually buy it? If you did indeed buy it, who did you buy it from - the original vendor or the party you didn't pay? We may need new language for the times we are living in.
- tarotuser 4y ago
  Id daresay that what you asked isn't philosophical, but legal. And from what I gather, yes, it is a sale. And if you don't pay, they ding your credit. Hard. And low/no credit people can't even use these services. But to the larger point, there's a lot of things that claim to be a sale, but aren't really. I'm especially thinking of DRM music, movies, software, and generally copyrighted goods like that. Those folks are sure addicted to using the language of "sale" and then removing as they choose whatever they wish.
  - auxfil 4y ago
    Sorry to burst your bubble, but legal philosophy is real, and has a direct impact on what you are here calling "legal".

balozi 4y ago

On a philosophical tangent, if you BNDP (buy now, don't pay), did you actually buy it? If you did indeed buy it, who did you buy it from - the original vendor or the party you didn't pay? We may need new language for the times we are living in.

tarotuser 4y ago
Id daresay that what you asked isn't philosophical, but legal. And from what I gather, yes, it is a sale. And if you don't pay, they ding your credit. Hard. And low/no credit people can't even use these services. But to the larger point, there's a lot of things that claim to be a sale, but aren't really. I'm especially thinking of DRM music, movies, software, and generally copyrighted goods like that. Those folks are sure addicted to using the language of "sale" and then removing as they choose whatever they wish.
- auxfil 4y ago
  Sorry to burst your bubble, but legal philosophy is real, and has a direct impact on what you are here calling "legal".