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EXPLAINED: Fiona guthrie | Vintage Vibes

More people using buy now pay later services for basics

A new survey has revealed more financial counselling clients are using buy now pay later services to purchase items such as groceries and fuel.

Fears buy now, pay later crackdown will fail vulnerable Australians

Fears buy now, pay later crackdown will fail vulnerable Australians

A proposed crackdown on the buy now, pay later industry could fail to deliver desperately needed consumer protections, advocates fear.

Buy now, pay later services will be considered credit products by the end of the year. Here's how it will work

Buy now, pay later services will be considered credit products by the end of the year. Here's how it will work

The federal government will classify buy now, pay later options as credit products, as part of sweeping changes to protect both consumers and the industry. Here's what it means in practice.

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'Wage-advance' apps aren't subject to responsible-lending obligations, but there are calls for government intervention

When Sharmy Walker was hit with a huge vet bill, she turned to a new type of fast-money app to help cover it. Now, she says she's trapped in a "vicious cycle" of debt.

Buy now, pay later regulation essential to protect young Australians from debt, experts say

Some estimates say 60 per cent of buy now, pay later (BNPL) users are aged under 35, but academics say the service has too few compliance checks and protections for young people.

No interest loans on the rise as pandemic and cost of living prices take their toll

When everything went wrong financially for Rosetta Ianchello, a scheme set up by charity Good Shepherd and the National Australia Bank helped her to manage her debt.

'Greedy and evil' payday lender Cigno's game of cat and mouse with ASIC continues

ASIC is investigating whether a third lending model set up by "predatory" payday lender Cigno is legal, while the company takes its fight to be exempt from credit laws to the High Court.

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Financial counselling 'cleaned up so much mess' after Jacqueline's life was devastated by unexpected trauma

Financial counselling 'cleaned up so much mess' after Jacqueline's life was devastated by unexpected trauma

Jacqueline Goodwin became a widow with two babies at the age of 25. She says a financial counsellor helped her overcome extreme budget stress and she's not alone, with experts expecting a spike in mortgage repossessions amid the rising cost of living.

As fixed mortgages end and rates rise, many risk losing their homes

As fixed mortgages end and rates rise, many risk losing their homes

Almost 40 per cent of Australians with mortgages who have locked in ultra-low fixed interest rates will roll off them as soon as next year, raising fears that more people will default on their loans, creating financial system instability.

Worried about rising interest rates? Here’s what experts suggest

Worried about rising interest rates? Here’s what experts suggest

Be prepared to switch lenders, cut other spending, potentially fix your loan and, if all else fails, seek help

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Steven Hamilton

Stephanie Tonkin

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