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A credit default could be anything from an overdue payment on a loan, to an overdue utility bill.
Ideally, you could save on fees by paying off early, but since Kabbage charges higher fees initially, you will not save quite as much.
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(d) Determining period between consecutive covered short-term loans made under the conditional exemption.
A typical fee shall not be less than 25% of the requested amount of the loan.
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This was highly controversial, but many Americans still could not secure loans at that rate; their risk of default was deemed too great.
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