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  • 19-01-2018
  • Business
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What is the major reason(s) for consumer default on loans?

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W0lf93
W0lf93 W0lf93
  • 01-02-2018
Major reasons for consumer default on loans can include: missed payments, either known or unknown. This has a negative effect on the consumer's credit score and can limit their chances to take out new lines of credit. A continuation of missed payments results in default. High interest loans are also a major reason for default.
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