@return2ozma to

[email protected]English • 8 months ago

Americans Are Racking Up 'Phantom Debt' That Wall Street Can't Track

www.bloomberg.com

cross-posted to:
news

14

Americans Are Racking Up 'Phantom Debt' That Wall Street Can't Track

www.bloomberg.com

@return2ozma to

[email protected]English • 8 months ago

cross-posted to:
news

Bloomberg - Are you a robot?

www.bloomberg.com

cross-posted from: https://lemmy.world/post/15144297

Consumers have embraced ‘Buy Now, Pay Later’ products that allow them to pay for purchases in installments, but it’s not clear how many of these loans are out there.

Paywall removed: https://archive.is/9SYHz

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@return2ozmaOP
link
English
4•8 months ago

Wells Fargo estimates that there’s about $46 billion dollars in phantom debt, and that’s just from "Buy Now, Pay Later.” And that’s just in the US alone.
- @melisdrawing
  link
  English
  2•8 months ago
  That is insane. It implies over $100 in debt to BNPL per capita.

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