"I don't think there's any question that it is at least a sign of how much people are struggling. If you're living paycheck to paycheck and you're on a tight budget and you have several of these loans out at one time, it can be very easy to get over your skis here," LendingTree Chief Consumer Finance Analyst Matt Schulz told The New York Times.
More consumers are using 'buy now, pay later' loans to purchase groceries
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"Even though we're clearly past peak inflation, prices are still high and people are still struggling with them," Mr. Schulz said in an email. "When those struggles happen, difficult decisions often have to be made and sometimes you even have to hold back on doing things you love, such as celebrating Halloween."
Inflation scares up Halloween horrors for families
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