I didn't have any concerns until I had a chat to someone the other day.
He's been in the finance industry for just on 40 years. We weren't even discussing apt.
We were discussing how people are using finance products and apt just came up.
He said that afterpay is causing massive problems. People are getting into a lot of trouble.
I said you can't get into a heap of trouble with apt unless you're an idiot.
And he said correct, but I see all the bank statements. People are buying a heap of stuff in one day using apt.
And then they end up coming to us to borrow $500 @ 48% to buy groceries.
Now I'm sure anyone reading this would be thinking the same as me "well they are obviously idiots"
But my concern is that even though apt have a low bad debt portfolio, if the senate are seeing this flow on to other credit alternatives then we may see a hiccup here.
APT Price at posting:
$18.82 Sentiment: Hold Disclosure: Held
