Re:Regulators Shut Down Lending Platform (YC Alum) LendUp
by Panzer04 on Wednesday December 22, 2021 @09:47PM
(#29658091)
Because then they simply wouldn’t exist. If they did, interest rates would be stratospheric, with most of the money coming from the successful borrowers subsidising everyone else.
[ Parent
| on HN ]
Re:Regulators Shut Down Lending Platform (YC Alum) LendUp
by sjg007 on Wednesday December 22, 2021 @10:03PM
(#29658188)
This is not true.
Re:Regulators Shut Down Lending Platform (YC Alum) LendUp
by kiklion on Wednesday December 22, 2021 @10:55PM
(#29658488)
What’s the difference between a student loan that can be discharged in bankruptcy and a personal loan?
Sure, the student loan can only go to a school but neither has any collateral which makes them the most similar loan products. So go get any 18 year old to try to get a $20,000 personal loan without any credit and see what the rates are and if lenders would even give it to them.