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Call for tougher controls as ‘buy now, pay later’ deals spiral

Campaigner Ros Altmann claims recent boom in style of financing threatens another credit crisis

Campaigners have called for new controls on “buy now, pay later” finance deals, which have spread online and in high-street stores and are being blamed for growing UK household debt.

Such deals have been in existence for years but have ballooned in number recently, with consumers being offered initial interest-free periods before typically being charged high interest rates.

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