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What is the penalty for default on my Short-term Loan?

April 26, 2017Default loan penalty short-term

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What is the penalty for default on my Short-term Loan?

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For any unpaid balance after your due date on your Short-term Loan an additional 0.5% per month will be charged on the unpaid principal balance. You will be blocked from receiving other Short-term Loans and blocked from registration and requesting your transcript. Additionally, your credit report will reflect the default on your Short-term Loan.