Originally Posted by
Cpn_Dunsel
Only to a very few that qualify and if the debt is not fully paid in that period they litigate quickly. A good many people that use Synchrony to finance bikes don't seem to be able to hit that 12 month window. If it is less than $1k they only go 6 months.
Disclosure: I have worked with Synchrony and many clients over debt issues.
And fwiw, they are getting pretty good at turning unsecured credit into secured liens through the court systems when people default. Negotiation is the key.
It is not only a very few that qualify. The vast majority of applicants with average to good credit immediately qualify. There is nothing exclusive about it.
Either way, the fact that a certain % of people default on all types of loans really isn’t pertinent to this rambling discussion, as telling someone with poor finance habits what to do is like pissing in the wind. It doesn’t mean that people with good credit should not take advantage of it.