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They may take out multiple loans before defaulting—69 percent of payday loan sequences that end in default are multi-loan sequences in which the borrower has rolled over or reborrowed at least once before defaulting—either because they are simply delaying the inevitable or because their financial situation deteriorates over time to the point where they become delinquent and eventually default rather than continuing to pay additional reborrowing fees, 3 month payday loans in Louisiana.
So hopefully, he can set up a payment plan by then (or have it paid off) and it can be taken off his record then, b/c it looks like it was a mistake with the college.
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