{"id":7783,"date":"2022-12-15T09:50:31","date_gmt":"2022-12-15T14:50:31","guid":{"rendered":"https:\/\/dev.pirg-test.com\/edfund\/updates\/consumer-alert-watch-out-for-high-cost-loans-and-buy-now-pay-later-pitfalls\/"},"modified":"2022-12-15T09:50:31","modified_gmt":"2022-12-15T14:50:31","slug":"consumer-alert-watch-out-for-high-cost-loans-and-buy-now-pay-later-pitfalls","status":"publish","type":"update","link":"https:\/\/dev.pirg-test.com\/edfund\/updates\/consumer-alert-watch-out-for-high-cost-loans-and-buy-now-pay-later-pitfalls\/","title":{"rendered":"Consumer alert: watch out for high-cost loans and buy now, pay later pitfalls"},"featured_media":0,"template":"","meta":{"_acf_changed":false,"_yoast_wpseo_meta-robots-noindex":false,"_yoast_wpseo_meta-robots-nofollow":false,"_yoast_wpseo_opengraph-title":"","_yoast_wpseo_opengraph-description":"","_yoast_wpseo_twitter-title":"","_yoast_wpseo_twitter-description":""},"campaign_tax":[157],"display_option":[],"issue_tax":[],"region_tax":[],"state":[8],"topic_tax":[124],"class_list":["post-7783","update","type-update","status-publish","hentry"],"acf":{"details":{"helper_taxonomies":{"topics":[124],"collection":false,"press_type":false,"person_type":false,"resource_type":false,"event_type":false,"campaigns":157,"department":false,"level":false,"states":[8],"act_option":false,"display_option":false,"primary":{"topic":124}},"featured_image":"","caption_override":"","excerpt":"CoPIRG teamed up with the Center for Responsible Lending (CRL) to issue a consumer alert including new data on high-cost \"supervised loans\" in Colorado and tips to avoid Buy Now, Pay Later traps. ","hide_hero_image":false},"helper_people_group":{"title":"Authors","entities":[{"type":"dynamic","dynamic_person":{"site":79,"people":"113"},"information":{"name":"","image":null,"role":"","biography":"","contact":{"twitter":"","facebook":"","email":"","phone":""}}}]},"page_layout":[{"acf_fc_layout":"layout_wysiwyg","_acfe_flexible_toggle":"","component_wysiwyg":{"content":"With many Coloradans' budgets stretched thin this holiday season, a <a href=\"https:\/\/dev.pirg-test.com\/colorado\/foundation\/media-center\/new-resources-should-caution-consumers-to-avoid-high-cost-loans-and-buy-now-pay-later-traps\/\">new repor<\/a>t from the Center for Responsible Lending (CRL) cautions people who may consider taking out a loan to pay for expensive products.\r\n\r\nCRL\u2019s new report, <a href=\"https:\/\/www.responsiblelending.org\/research-publication\/upsold-and-weighed-down-analysis-subset-supervised-installment-lending-colorado\">Upsold and Weighed Down<\/a>, found that one type of financial product, \u201csupervised\u201d installment loans, come packed with fees for low-value, high-cost add-on products that are not included in the loans\u2019 APRs, but can add hundreds of dollars onto borrowers tabs.\r\n\r\nIn addition, CoPIRG Foundation <a href=\"https:\/\/dev.pirg-test.com\/colorado\/foundation\/media-center\/new-resources-should-caution-consumers-to-avoid-high-cost-loans-and-buy-now-pay-later-traps\/\">cautioned consumers against pitfalls in Buy Now, Pay Later offers.<\/a> Our <a href=\"https:\/\/dev.pirg-test.com\/articles\/buy-now-pay-later-what-to-know-before-you-sign-up\/\">consumer protection tips<\/a> highlight things to know and what to avoid.","":null}}],"featured_content":[]},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Consumer alert: watch out for high-cost loans and buy now, pay later pitfalls<\/title>\n<meta name=\"description\" content=\"CoPIRG teamed 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