Klarna losses widen as more users miss payments; 100 million now on platform
I remember when that shit started and people were posting all kinds of memes here about people paying for pizzas or doordash or whatever in "3 easy installments" or "buy now pay later" schemes. Guess it's all coming home to roost now
Has anyone here actually ever financed a burrito?
The company posted a net loss of $99 million for the three months ending in March, more than double its $47 million loss during the same period a year earlier. The deterioration comes amid a rise in customer credit losses, which climbed 17 percent year-on-year to $136 million, underscoring mounting concerns about the financial health of U.S. borrowers.
People finance fast food all the time via high interest credit cards.
These low interest financing services are honestly way better if you can have the discipline to make the payments
If you don’t have the discipline to save up 11 dollars how would you have the discipline to make payments
That is actually crazy
Its funny as shit but 100M in debt wont trigger shit, literally nothing
put 25% down
get 100% of the thing
literally do nothing else
profit
what did people think was going to happen? they'd pay back the free money? lol it doesnt even go on your credit, if you give people 100 bucks for 33 dollars down and there isn't any incentive for them to pay the rest, why in the world would they? there's an idiot here and its not the people abusing the system, its a stupid system
the absolute state of americans
So what happens if you don’t pay? T. Not american
So what happens if you don’t pay? T. Not american
I think then late fees rape you
What if you don't pay them either
What if you don't pay them either
eventually... debt collector?
This only works in the EU, there if u miss payments the creditor can get a high court writ and send police agents to track you down they can even break in (the high court writ is a warrent) with a portable card reader in hand demanding full payment + late fees, if they can't pay they will start taking anything of value to auction off to pay the Full loan and if they chimp out then they go straight to jail, theres even a show "Can't Pay, We'll Take It Away!". Yet in Burger land Creditors can at the VERY MOST make angry phone call demanding payment (careful not to get sued for harassment) and they have to beg to settle for 10% of the loaned amount. So why do burgers have AAA rating while Europoors only have A rating?
old enough to remember when a burrito was just $3.75
over a burrito??
you going to die over a burrito?!
somebody is...
No they aren't. The credit card is objectively better if you make the payment before the statement is due.
yes lmao
Isn't Klarna the one that is interest free? How are people not paying back something so simple? If this was Affirm or Afterpay I would understand, maybe
I have debt collectors hounding me from medical bills and credit cards I maxed out on rent when I didn’t want to sell my crypto. Nothing’s happened to me. I imagine my credit is shit but no one is coming to take my stuff or something
Is this system not attached your bank or credit card?
If you put down 20% of the burrito do you get to pay 0 interest
Nigga, we're talking about FAST FOOD.
If you NEED to make installments for FAST FOOD, there's NO financial hope for you.
MAGA!
That's crazy. I even thought actually would be the inverse.
How European commies are more kiked than the US?
kek I love America
This is the most obvious bubble I have ever seen in my lifetime.
I want to short the burrito market
its a nothingburger.
If you have debt and already own nothing there is hardly anything they can do except garnish your wage, which you should already be well prepared for when it finally comes to that.
Lenders dont persue debt overnight.
You can draw out that burrito debt for yeaaaars.
its a nothingburger
actually its a burrito
Money isn't even fucking real. This was the biggest revelation I've had in years. I've been throwing one pile of debt to another in cycles of 0% APR credit cards and investing with personal loans. This is all a sick joke. Im going to eat Chipotle right now.
What's the best pay later stock to buy?
I held onto these memes for months waiting for this tower of janga to fall
what's owed is owed
You pay for klarna with your credit card you stupid fuck. Its literally the exact same value just spread over a few weeks.
They are losing money from black people or really anyone buying huge orders and cancelling the cards or closing their accounts. Its not that 10 million people couldnt pay off their 10 dollar dinner installment. They have a shitty retarded liberal coded business model
And we have case 12035, whereby anon is facing between 3-5 months of prison for failure to pay outstanding credit, which appears to be, due to the purchase of...
Let me see here.....
1 (one) $12.65 Chipotle Honey Chicken burrito.
Including late fees and charges....
Has amounted to a total of $235.22
Implying this case won't go straight to burrito arbitration
Has anyone here actually ever financed a burrito?
I am almost buying my plot of land to build a house in cash. How bad at finances you need to be to finance a fucking burrito?
Jesus, go to the market and buy real food.
BTW, america no longer is a AAA, they have been demoted to AA.
No, I am not making this shit up.
It’s not better. My mailbox literally gets stuffed with 0% apy 1.5% rewards $200 rebate credit card offers. Literally can’t apply to them all or it rapes my credit score.
So you mean to tell me that this time avocado toast and lattes really might be the actual cause of a financial meltdown?
is this the sequel millennials have been waiting for?
12.65 Chipotle Honey Chicken burrito
It more thatc12.65
They are losing money from black people or really anyone buying huge orders and cancelling the cards or closing their accounts. Its not that 10 million people couldnt pay off their 10 dollar dinner installment. They have a shitty retarded liberal coded business model
That's wild if it honestly works like this. How could anyone from America think it wouldn't be abused like that? It's not like it was developed in Liechtenstein lmao
I'm as big as a gigabear blackswan-maxxing fag as the next person in the thread, but this is really peanuts in comparison to Central Banks racing to the bottom of interests rates while bonds crater anyway.
Muh consumer sentiment
All swept away into the liquidity black hole sun, won't you come, won't you come.