Americans Are Racking Up ‘Phantom Debt’ That Wall Street Can’t Track
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.

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

  • return2ozma@lemmy.worldOP
    122·
    7 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.