I genuninely don't understand all the negativity and issue about the bad debts, so perhaps someone could explain it to me please.
My understanding is that they loosened their criteria in an effort to grow and get more customers - it makes sense that because of this you end up getting a lot more customers and a lot of poor quality customers that result in bad debts increasing.
But presumably as people don't pay their debts they are cut off from the system, so you are only left with the good quality customers that you want. Therefore, while bad debts are increasing in the short term, I'm expecting them to reduce over the next few years as the bad customers are cut off resulting in the remaining overall quality of customers being of a higher quality.
Have I misunderstood something?
Z1P Price at posting:
$1.47 Sentiment: Buy Disclosure: Held
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