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If you have any doubts about your ability to meet your repayments then you may want to consider other credit options.
In the case of a loan for which the lender obtains the ability to extract loan payments from the consumer's bank account, the course of default typically includes several attempts by a lender to extract the payments, which fail due to insufficient funds in the account.
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Loans of this type, as they exist in the market today, typically take the form of single-payment loans, including payday loans, and vehicle title loans, though other types of credit products are possible.
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