What happens if you don't pay your PayLater?
What happens if you don't pay your PayLater? Consequences of Missing a Buy Now, Pay Later Payment Charging a late fee. Charging interest on the unpaid balance. Turning over your account to a collection agency (if you stop paying on the account), which could hurt your credit. Not allowing you to make future purchases with the plan.
Is PayLater a loan?
Paylater® is a simple, entirely online lending platform that provides short-term loans to help cover unexpected expenses or urgent cash needs.
Does PayLater affect credit score?
Buy now, pay later loans generally do not affect people's credit. These loans, typically offered at the point of sale, do not yet routinely appear on most credit reports.