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10-16-2017, 08:00 PM #17
- Join Date
- Apr 2014
- Location
- Washington DC
- Posts
- 421
? Not trying to be anything but open (as we have made a ton of mistakes ourselves, that we do our best to learn from), and my point was referring to IOU's comments on the impact on their default rate via the rise of debt settlement companies, which in a consolidation product today, is a reasonably likely outcome (I assume they dropped that product too, as we did too once it became too unpredictable, even if it was profitable for us). The factors we still have to view as exogenous are the stacks on a-paper (previously unstacked) that lead to debt settlement companies (and therefore a all-or-nothing result). We are working hard on making those risks, that are currently exogenous in our view, risks identifiable; but we aren't there yet across the board: and that's why we won't win every 12 month 1.3x -- we will typically give that client either a decline (because of how our model works) or a much lower rate, longer-term product.
Carl Fairbank
Founder & CEO boldMODE
www.boldmode.com
Carl@boldmode.com
Founder & former CEO of Breakout Capital (sold to SecurCapital in 2019)
www.breakoutfinance.com
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