My default rate was already relatively high (1.37%) but I don't think it has increased substantially. If all delinquent loans remain unpaid (they won't) that number would go up to 2%. Some of the US based borrowers are still making payments as of a couple of days ago. Due to higher interest rates a couple years ago, along with easier Plastiq unloading, I had greatly downsized my use of Kiva for MS in 2019. Even with the change to disallow gift cards on Plastiq, I still never ramped up because I knew the economy could turn south (although I was thinking of a general bubble burst, not this). Due to crisis I'm going to Costco more often which means I unload my VGC bought at a discount there, and for regular spend.