Miss a buy now, pay later payment? There’s a way to erase late fees

PHOENIX (AZFamily) — People are using buy now, pay later options regularly. Though many borrowers are falling behind on their micro-loans, there is relief from late fees.

More than half of people who use a buy now, pay later service have paid late on at least one loan, according to LendingTree . Late fees often cost $7 or $8 each time an installment payment is missed, but a new survey reveals consumers are getting out of those extra costs.

According to LendingTree, 62% of people facing a BNPL late fee got the fee waived. Another 24% had their fee reduced, and only 14% of people who asked for relief still had to pay the full fee.

“It really is often about taking the time to ask, especially if you are somebody who is a regular customer who has managed these things well in the past,” sa