Private credit enters risky terrain with huge bets on consumers

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The story "Private credit enters risky terrain with huge bets on consumers" was covered 3 hours ago by The Straits Times, a news publisher based in Singapore.

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The Straits Times 3h ago

Private credit enters risky terrain with huge bets on consumers - The Straits Times

Quick Summary:

Customers increasingly using debt as the cost of living crisis squeezes household budgets.

Rougher economic times mean people need to borrow more – an opportunity for cash-rich private credit funds – but this also makes it harder for them to honour debts.

Others point out that although asset-based finance is usually secured by real things such as property when lending to companies, it is often not secured against anything when used to fund consumer lending, adding to the dangers.