- cross-posted to:
- news@lemmy.world
- cross-posted to:
- news@lemmy.world
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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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.
That is insane. It implies over $100 in debt to BNPL per capita.
