Maybe I'm missing something here, but this looks like a business with massive downside risk and very little upside.
It's bundling a bunch of bad debt (nobody who manages their money well is going to pay 20% interest if they have better options) and hoping that the aggregate is less risky. I have a feeling we've seen that sort of wishful thinking about debt before.
So what am I missing that makes Tally so good at managing the risk that people just run up huge debts on multiple cards and leave Tally holding the baby?
It's bundling a bunch of bad debt (nobody who manages their money well is going to pay 20% interest if they have better options) and hoping that the aggregate is less risky. I have a feeling we've seen that sort of wishful thinking about debt before.
So what am I missing that makes Tally so good at managing the risk that people just run up huge debts on multiple cards and leave Tally holding the baby?