@return2ozma to News • 1 month agoCredit Card Delinquency Rates Are At Highest Level Since 2012www.forbes.comexternal-linkmessage-square11arrow-up1115arrow-down13
arrow-up1112arrow-down1external-linkCredit Card Delinquency Rates Are At Highest Level Since 2012www.forbes.com@return2ozma to News • 1 month agomessage-square11
minus-square@[email protected]linkfedilink12•1 month agoSome crazy part of me wonders what would happen if 50%-75%+ of people just straight up refused to pay. And, not for like…one month. But 6-12 months. It would have to have a meaningful, negative impact to banks? Right?
minus-square@[email protected]linkfedilink11•1 month agoParaphrasing a common saying… If 100 people can’t pay the bank back, the 100 people have a problem; if 100 million people can’t pay the bank back, the bank has a problem.
minus-squareHubertMannelinkfedilink1•1 month agoim pretty sure their card would get canceled and then debt collections would start.
Some crazy part of me wonders what would happen if 50%-75%+ of people just straight up refused to pay.
And, not for like…one month. But 6-12 months. It would have to have a meaningful, negative impact to banks? Right?
Paraphrasing a common saying… If 100 people can’t pay the bank back, the 100 people have a problem; if 100 million people can’t pay the bank back, the bank has a problem.
Debt strike!
Debt strike!
Debt strike!
im pretty sure their card would get canceled and then debt collections would start.