THE INCREDIBLE AMERICAN CONSUMER...“there is no way to know when this phantom debt could create substantial problems.”

A payment method that some call ‘phantom debt’ just hit a new record

Last Updated: Jan. 6, 2024 at 1:42 p.m. ETFirst Published: Jan. 4, 2024 at 4:45 p.m. ET

MarketWatch

A payment method that some call 'phantom debt' just hit a new record - MarketWatch

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New record-breaking numbers on buy-now-pay-later purchases show consumers aren’t getting spooked by the emerging payment method that some economists call “phantom debt.”  
U.S. shoppers racked up $16.6 billion in buy-now-pay-later purchases during the holiday season, helping to close out a big year for the flexible payment option.
That’s according...

Bloomberg

10 hours ago

Buy Now, Pay Later' Has Americans Racking Up Phantom Debt - Bloomberg

Bloomberg.com

9 hours ago

Buy Now, Pay Later' Has Americans Racking Up Phantom Debt - Bloomberg

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

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.

Illustration: Jovana Mugoša

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By Paulina Cachero and Paige Smith

May 7, 2024 at 2:00 PM PDT

The Big Take

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

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.

Bloomberg

9 hours ago

Buy Now, Pay Later' Has Americans Racking Up Phantom Debt - Bloomberg

Lemmy.World

5 hours ago

Americans Are Racking Up 'Phantom Debt' That Wall Street Can't Track - Lemmy.World

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Check out this article on Phantom Debt! https://www.cnbc.com/2024/01/07/buy-now-pay-later-is-a-troublesome-type-of-phantom-debt-experts-say.html

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17 likes, 2 comments - erictmitchellJanuary 12, 2024 on : "Check out this article on Phantom Debt! https://www.cnbc.com/2024/01/07/buy-now-pay-later-is-a-troublesome-type-of-phantom-debt-experts-s..."...

Financial Times

12 hours ago

The incredible American consumer

Resignation of Ryan Winkle from RAILCDC

My decision to step down from RAILCDC is driven by my desire to serve my community in a different capacity. I am running for Mayor of Mesa, the city where I grew up and hold dear to my heart. I believe that the challenges we face require pragmatic, brave, and visionary leadership, and I am committed to bringing these qualities to the forefront."

FOR IMMEDIATE RELEASE

Resignation of Ryan Winkle from RAILCDC

[Mesa, Az - April 12, 2024 5:00pm]

It is with mixed emotions that I announce my resignation from RAILCDC (Retail Arts Innovation & Livability Community Development Corporation), effective April 12th at 5:00 PM.

Since its inception in 2013, RAILCDC has been my passion project, born out of a deep-rooted commitment to community empowerment and support. Together with my dedicated team, we have worked tirelessly to champion the needs of our community, prioritizing the interests of lived experience and neighborhood and personal ownership of ones own community and future in every endeavor.

Under my leadership, RAILCDC has achieved significant milestones, from establishing a world-class equitable small business technical assistance program to providing vital Credit building, financial coaching & housing counseling services through our Financial Opportunity Center. Our pioneering Heat Action Plan and Resilience Hub program stand as testaments to our commitment to environmental sustainability and community resilience.

Over the past three years as executive director, I brought fund raising from almost nothing to roughly a million dollars last year. Our capacity has grown exponentially. We have touched the lives of countless individuals and families, particularly those in low-income corridors across Mesa, Tempe, and Phoenix. The impact we've made together will endure long after my departure.

My decision to step down from RAILCDC is driven by my desire to serve my community in a different capacity. I am running for Mayor of Mesa, the city where I grew up and hold dear to my heart. I believe that the challenges we face require pragmatic, brave, and visionary leadership, and I am committed to bringing these qualities to the forefront.

As I embark on this new chapter, I am grateful for the support of the community that I have walked and worked beside for so many years. Together, we have built something truly special, and I am confident that the organization will continue to thrive in my absence. I express my heartfelt gratitude to everyone who has been part of this incredible journey. Your dedication and unwavering commitment to community betterment have left an indelible mark on our region.

Always and forever, "Do it for the neighborhood",

Ryan Winkle

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