Many consumers who used to buy now and pay later to finance holiday shopping are now struggling to pay off bills that are coming due in installments. Buy now, pay later helped fuel record 14% growth in online sales last season, but shoppers may face difficulty covering payments. Credit card debt is at an all-time high, while delinquency rates have doubled in recent years, adding risk. Providers don't disclose BNPL default rates, though CFPB found users twice as likely to be late on other debts like loans.