bro. Fucking – Think about it. Klarna pay in 3 installments divide the cost by 3 and take payments monthly. Month A, you pay one third. Month B you pay one third of months A and B. By month C onwards you’re consistently paying three thirds or 100% of the rent. You’d only defer yourself the value of one month’s rent over the span of two months. Pointless.
That’s how fucked our economy is. There is a significant number of people so close to the edge that buying an extra 10 days before eviction is the final gasp before becoming homeless.
Yes. Previously the alternative was payday loans, which charged exorbitant interest rates.
People have tried to ban these sorts of predatory loan businesses before but it usually forces people into the hands of organized crime loan sharks who charge even more exorbitant interest and exact brutal punishments on people who don’t pay up.
They should be illegal. The literal only difference between these ‘services’ and the mob is they typically don’t break your knees.
But that’s not the only despicable thing about the mafia’s racket.
These people squeeze the last blood from people who often become homeless anyhow; whereas if landlords had souls, many people could at least keep their housing and not be so vulnerable to predators.
which charged exorbitant interest rates.
Same goes for Klarna if you miss payments.
That’s how you keep score in bowling.
And isn’t there interest when doing this as well?
Oh my yes!
I lost interest after like the second sentence. Sounded too much like a middle school math problem.
Yikes, alright, good luck
Fwiw there’s no interest on Klarna where I live 🤷
And where is that? 🤔
Where I live there’s a bit of interest when you postpone your payments further than 30 days. Other than that, no interest. Just like a regular credit card.
Maybe it’s something past 30 days. I haven’t used anything past that. Suppose I talked out of my ass a bit.
😄 No worries mate
Unless they are using the “Klarna Glitch” (see Identity theft)
https://frankonfraud.com/the-klarna-glitch-that-isnt-inside-the-new-viral-trend/
Wait til they find out about the “gun glitch” (armed robbery)
Dystopian fucking timeline. Around every corner there seemingly waits billionaires waiting to fuck ppl over
“Can’t pay rent? Don’t worry we have an even more humiliating solution for you!”
Can’t pay your monthly rent? We can pay it for you with a monthly payment schedule.
Rent money to rent apartment
Great idea
Richest nation in the world.
Klarna 'bout to find out their business model doesn’t work as well in the US compared to the Nordic countries and EU, as
- People are already up to their neck in debt, putting Klarna to the back of the queue in case there’s a default
- Personal bankruptcy is a thing
Especially the Northern Europe personal bankruptcy is really not a thing, fuck up your finances and you’re never going to see a penny you make (above what you strictly need to live) until everything has been paid back. Debt that is actively being collected also never expires.
There’s a good reason Klarna’s been able to thrive in this environment – getting debt from banks is quite difficult and you have added security from the draconian collections process.
In the US a company ignores credit scores at their own peril. The bankruptcy process is one of the few things that works better in the US than in e.g. my home country Finland.
People are already up to their neck in debt, putting Klarna to the back of the queue in case there’s a default
People in debt (before there is professional help) end up paying the important things first (such as rent) and then choose to pay off the debt that is most within their reach. Klarna is much more likely to be a low amount compared to their creditors.
It might be true their loans are more likely to be payed back while also they might have less to loose in case of a personal bankruptcy.
But that aside, i have no clue on whether Klarna is making a smart move. But i assume they are because companies that are both evil and stupid don’t tend to come far.
Is there a good article about this?
I’ll try to find some and link, but I’m not sure if there are good ones.
Edit: couldn’t find one with quick googling. Guess I’ll have to write one when I have time.
Financing is bad at the best of times.
No, it’s not. Financing is a great tool, and used wisely and with knowledge of interest rates and total cost, can elevate you quite a bit in life.
This however is predatory lending, and it should not be used ever.
This is a financially naive and reductionist take, approaching financial illiteracy. Applied correctly, financing allows you to preserve liquidity while still leaving funds in accounts with higher returns. Financing also provides a hedge against inflation, e.g. real estate.
I literally took out a mortgage to buy my house. That’s financing.
If I lose my job and I’m not able to find another one then the bank will repossess my house, but that doesn’t make my purchase of my house a financially irresponsible decision. The repayments on my mortgage are considerably less than the rent that I used to pay, so I am much better off now than I was previously. Anyway I would have lost my rental had I stopped paying as well, so nothing’s really changed.
Gatekeeping basic necessities behind paywalls is economic violence.
coming soon: Americans are fucking drowning in debt
neofeudalism here we come!
Could I get a loan to help me pay a klarna instalment?
How deeply can we dig this hole?
you are not gonna believe what the banks did in 2008
I knew a guy in college that kept getting new credit cards to pay off other credit cards he had maxed out. I wonder what his credit looks like now.
that’s me, been trapped in that cycle since I had to pay several months’ rent with credit card during covid
aside from some dings due to high credit usage, my score is good. mainly because i have a shit load of cards i opened years ago, so my average account age is high.
I’m not a particularly responsible spender and have a shit ton of debt, but since I make the CC companies a bunch of money by paying balance transfer fees all the time, I’m profitable. So my score is high.
What a stupid world
My dad paid 140k to buy a lot and build a house about 25-30 years ago. It’s back up for sale…$475k. in that time, minimum wage went from $5.15 an hour to $7.25 in that save time frame.
People are still working 40+ hour weeks, and healthcare is somehow costs MORE, along with everything else.
I don’t fucking think immigrants had anything to do with any of that.
The role immigrants play is involuntary, so blaming them is asinine. But they do fit in the equation. An average American has little to no financial security (by design), leaving many in a constant state of desperation. If anything, immigrants are even more desperate to make a living away from whatever situation they were trying to get away from, thus willing to accept even lower pay. But on top of that, many are manipulated into a situation where they are trapped in an “illegal” status and forced to accept sub-minimum wages or get deported.
Make no mistake, the vast majority of immigrants arrive here legally, but are then victimized by our capitalist class. And in the end, they get blamed for the situation. Fuck that.
The class divide all over the world needs to be destroyed. But that will require solidarity amongst the worldwide working class who have been brainwashed into a completely illogical fear of their peers, just because of an imaginary line drawn by sociopathic fuckwit pedophiles, who do not, and never have, deserved anything even resembling respect.
The “free market” at work, folks.
So what happens if you keep leveraging klarna on klarna on klarna and then just buy a van, skip the bill, and go off grid?
Your face gets put on Smoobly, the bounty hunting app.
Buy a van for what money if you are so stretched financially you need Klarna?
Buy it with klarna ofc
The best system in the world everyone!
