Buy now, pay later loans are gaining popularity as people use them to make ends meet, but a new LendingTree study shows many users are struggling to make their payments on time.According to the study, 54% of buy now, pay later u sers said they would not be able to make ends meet without these loans. That number jumps to 62% among parents with children under 18.Whether in person or online, it is easy to find retailers offering buy now, pay later plans. Unlike credit cards, which charge interest if you do not pay off your balance each month, these loans let shoppers split a purchase into three, four, or more bi-weekly payments, interest-free, if paid on time. The LendingTree study found more people are using the loans to buy essentials. Last year, 25% of users bought groceries with the loans, which is more than double the 14% who did so two years ago."What we've found is that more people are using buy now, pay later loans, more people are paying late on them," Matt said.Almost half of users admitted to at least one late payment last year. Missed payments can result in a late fee or worse."If you pay late 3 times, you may end up bumping up against a cap that can sometimes be like a percentage of the total loan," Matt said.The study also found a quarter of buy now, pay later users have three or more loans at the same time, which can make it even harder to make bi-weekly payments on time. Tulsa moms Jamie and Renata told 2 News Oklahoma they are leery of these loans."I think that I just don't want to be in that position, so I've avoided it completely," Renata said "I've never done it. I'm more of the mentality that if I don't have the money, I shouldnt buy it," Jamie said.This story was reported on-air by a journalist and has been converted to this platform with the assistance of AI. Our editorial team verifies all reporting on all platforms for fairness and accuracy.Stay in touch with us anytime, anywhere -- Download our free app for Apple, Android and Kindle devices. Sign up for daily newsletters emailed to you Like us on Facebook Follow us on Instagram Watch LIVE 24/7 on YouTube ...read more read less