• TranscendentalEmpire@lemm.ee
    link
    fedilink
    arrow-up
    4
    ·
    1 year ago

    Yes, and that’s the reason they really don’t hand those out to just anyone, and when they do it’s typically in limited to under 50k.

    • KevonLooney@lemm.ee
      link
      fedilink
      arrow-up
      1
      arrow-down
      1
      ·
      1 year ago

      Your comment was about “rich people”. There are plenty of those defaulting on signature loans larger than $50K.

      • TranscendentalEmpire@lemm.ee
        link
        fedilink
        arrow-up
        3
        ·
        1 year ago

        Do you have any sources for that claim? There really isn’t a reason for a bank to lend a significant amount of money via an unsecured loan. Even people like musk and bezos have to levy their stock to secure large loans.

        • KevonLooney@lemm.ee
          link
          fedilink
          arrow-up
          1
          arrow-down
          3
          ·
          1 year ago

          Are you asking for internal bank documents about specific loan defaults over a certain amount? No one is going to share that with you, but yes a bank will definitely loan amounts over $50K with no collateral. It’s usually called a “credit card” or just a large line of credit.

          • TranscendentalEmpire@lemm.ee
            link
            fedilink
            arrow-up
            5
            arrow-down
            2
            ·
            1 year ago

            Are you asking for internal bank documents about specific loan defaults over a certain amount?

            I mean like any evidence? A report about a rise in defaults on unsecured loans, examples of people being given huge unsecured loans, the information that has led you to believe in your own claim?

            It’s usually called a “credit card” or just a large line of credit.

            Again, having a credit limit on a single card exceeding 50k is extremely rare even for the wealthy, the same goes for personal lines of credit. I think at this point you’re just being pedantic. The vast majority of large loans are secured via collateral. With the reason being that it can be exceedingly difficult to recoup your investment in civil court.