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27 January, 19:02

What is the major reason (s) for consumer default on loans?

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  1. 27 January, 19:13
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    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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