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Fintech and BNPL Charge-Offs Enter the Secondary Market

How newer consumer credit products show up in debt sales—and what diligence changes.

Fintech personal loans and buy-now-pay-later products are producing charge-off inventory with different data models than traditional bank cards. Secondary market buyers are adapting.

What is different

  • Shorter origination histories
  • Different servicing platforms and field schemas
  • Merchant/context fields that may or may not aid recovery

Underwriting caution

Normalize data carefully. Do not assume card-market recovery curves transfer one-for-one.