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‘Phantom debt’ from buy now pay later schemes is a $700 billion black hole that economists aren’t accounting for
Wall Street is generally convinced the economic health of the U.S. consumer is remarkably better than expected after COVID, but one analyst has pointed out there's a gaping hole in the picture.
MyChesCo on MSN18d
FTC Shuts Down Fraudulent Debt Scheme Preying on Consumers with Fake Threats
A federal court has taken decisive action to shut down a phantom debt collection scheme, freezing its assets and temporarily halting operations following a lawsuit filed by ...
Business Insider1y
The 'phantom debt' of buy now, pay later is growing and will soon hit some Americans hard
However, because of how these de facto loans are handled, they are being called "phantom debt," since no one knows just how pervasive they are or how much of an anchor they are on the American ...
ConsumerAffairs24d
Federal court shuts down phantom debt scheme
As a result of a Federal Trade Commission lawsuit, a federal court hastemporarily halted the operations and frozen the assets of a phantom debt collection scheme and its operators. The scheme has ...
ConsumerAffairs24d
Managing and Understanding Debt
As a result of a Federal Trade Commission lawsuit, a federal court hastemporarily halted the operations and frozen the assets of a phantom debt collection scheme and its operators. The scheme has ...