Ask Question
BusinessBusiness
10 October, 04:33

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

+3
Answers (1)
  1. 10 October, 07:53
    0
    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.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “What is the major reason (s) for consumer default on loans? ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
If $15,000 is borrowed at 9% for 78 months, what is the simple interest amount on this loan?
Answers (1)
If good skiing costs $100 per day and horseback riding costs $50 per day, if you have $250 to spend how many days of skiing could you do? a. 1 days b. 2 days c. 3 days d. 0 days
Answers (1)
If the government decides to spend an extra $4 billion on fighter jets that they would otherwise have spent on computers, and the mpc = 0.75, what is the effect on ad? a. ad increases by $20 billion. b. ad increases by $16 billion. c.
Answers (1)
A difference between money issued by colonies and money issued by the continental congress was that money issued by each colony was:
Answers (1)
One of the unexpected drawback of starting your own business is
Answers (1)
New Questions in Business
A mutual fund had NAV per share of $19.00 on January 1, 2016. On December 31 of the same year, the fund's NAV was $19.14. Income distributions were $0.57, and the fund had capital gain distributions of $1.12.
Answers (1)
What is meant by assessment? a. Activities that occur between two or more businesses. b. Provides services for connecting network resources across network domains. c. Documenting rules, procedures, and guidelines to be tested against a system. d.
Answers (2)
One financial institution is offering a 1% interest rate on savings accounts while another institution is offering a 2% interest rate on savings accounts. Out of the two financial institutions, which offer would the bank probably be offering
Answers (1)
Gault Corporation had the following shares of stock outstanding on December 31, 2018: Common stock, $50 par value, 200,000 shares outstanding Preferred stock, 8 percent, $100 par value, cumulative, 20,000 shares outstanding Dividends were in arrears
Answers (1)
An economy begins in long-run equilibrium, and then a change in government regulations allows banks to start paying interest on check - ing accounts.
Answers (1)
Home » Business » What is the major reason (s) for consumer default on loans?
Sign Up Forgot Password?