News@lemmy.world · 6 months ago

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

www.bloomberg.com

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

www.bloomberg.com

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News@lemmy.world · 6 months ago

cross-posted to:
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Bloomberg - Are you a robot?

www.bloomberg.com

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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6 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.

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