Excuse me, we’re on the “everybody has money and the economy is doing great” train. Please remove.
>It’s unclear how often buy now, pay later bills go unpaid, but the people who use the services are more than twice as likely to be delinquent on another credit product, such as a car loan or mortgage.
They use a service without thinking ahead about how they’ll actually pay for it. Of course they’re more likely to be delinquent.
If it’s unclear how often these go unpaid then this is just and informative piece.
Wait… These companies refuse to provide data on these buy now pay later services. We know you pay a little upfront, some with penalties if you don’t make payments on time and extremely high interest. They also won’t clarify their underwriting process.
Is it possible these vendors are using predatory practices on people during stressful times of the year when expectations are high on consumers?
The title should be more along the lines of “Buy now pay later services prey on consumers during holiday season.”
Don’t pay anything, they lent you money knowing you cannot pay them back. They dug their own graves. Now max out all credit cards and declare yourselves in bankruptcy, let them eat cake.
I can’t say enough how much I hate this practice. Buy now, pay later is no different than other predatory credit practices like payday loans.
In the end, they prey on people who don’t know how to manage money, knowing a certain percentage will not be able to pay it back, and then get stuck paying large fees. I also don’t like the increase in sports betting ads. You know that’s not going to end well for gambling addicts.
People stupid enough to think $$$$ gifts means I love them more or they’ll like me more .
5 comments
Excuse me, we’re on the “everybody has money and the economy is doing great” train. Please remove.
>It’s unclear how often buy now, pay later bills go unpaid, but the people who use the services are more than twice as likely to be delinquent on another credit product, such as a car loan or mortgage.
They use a service without thinking ahead about how they’ll actually pay for it. Of course they’re more likely to be delinquent.
If it’s unclear how often these go unpaid then this is just and informative piece.
Wait… These companies refuse to provide data on these buy now pay later services. We know you pay a little upfront, some with penalties if you don’t make payments on time and extremely high interest. They also won’t clarify their underwriting process.
Is it possible these vendors are using predatory practices on people during stressful times of the year when expectations are high on consumers?
The title should be more along the lines of “Buy now pay later services prey on consumers during holiday season.”
Don’t pay anything, they lent you money knowing you cannot pay them back. They dug their own graves. Now max out all credit cards and declare yourselves in bankruptcy, let them eat cake.
I can’t say enough how much I hate this practice. Buy now, pay later is no different than other predatory credit practices like payday loans.
In the end, they prey on people who don’t know how to manage money, knowing a certain percentage will not be able to pay it back, and then get stuck paying large fees. I also don’t like the increase in sports betting ads. You know that’s not going to end well for gambling addicts.
People stupid enough to think $$$$ gifts means I love them more or they’ll like me more .