My problem with this company is the unsecured up to 50grand...

My problem with this company is the unsecured up to 50grand loans they are giving out in the hope people will be deterred from defaulting by a bad credit report for 7 years but after 7 years it's wiped from their record.

Young people can barely afford housing, I think the car will be the first to default on so money me profit will be negative to zilch as young people or old people who don't care about a credit rating stop paying. In my opinion anyone who gets 50k in loan between the ages of 18-28 or 50+ is probably financially better off not paying the loan as 7 years for 50k cash plus they can sell the asset and keep the money on that as well.