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In the Bureau's data analysis, more than half, 56 percent, of single-payment vehicle title loan sequences stretched for at least four loans; over a third, 36 percent, were seven or more loans; and 23 percent of loan sequences consisted of ten or more loans.
For these consumers, as for the defaulters, the practice of making loans without regard to their ability to repay enables them to obtain a temporary reprieve from their current situation.
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Likewise, if the expense has been incurred prior to seeking our help we can work with you and the provider to negotiate a reasonable payment plan until the suit settles.
> Will Hubbard, a spokesman for Student Veterans of America, said veterans often have many more responsibilities than their college classmates, so it may make sense to take out the loans.
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Most payday lenders will let you repay your loan early and will not charge you any additional fees.