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The Bureau further believes that these requirements would accommodate situations in which the consumer wishes to authorize additional payment transfers promptly, given that in many instances the lender could obtain the consumer's authorization on the same day that the notice is provided and received, particularly when the notice is provided in person or electronically.
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If you are having a difficult time deciding whether or not to use a payday loan, call a consumer credit counselor.
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As a result, we must rehabilitate or consolidate the loans before getting an Income Default on guaranteed loans occurs if the borrower has missed 9 monthly payments.