[Chambo]

Principis has always been a go to for solid credit card deals- I'm glad they changed up the game and are a 30% net- this is pretty big news!

As for consols- I made a HUGE mistake on offering them last summer though a partner while I did the underwriting- was it worth it? I received about 30 files in not even 3 days. 3 got done- the rest either had a low annual gross which when you looked at the payback vs. the annual you were looking at about 25-40% of their receivables. The businesses had some seasonality to it, or there was nothing substantial that was worth doing a large payoff. The risk is crazy and without something to hold on to (collateral). I would like to see in the next couple of months if they release numbers to show how many consols they did and what the average stack payoff and how many they average paying vs. How many they received.

Principus/First Funds are still around?