A TSUNAMI OF DEBT IS ON THE HORIZON. IF HISTORY IS ABOUT TO REPEAT ITSELF - HOW CAN CONSUMER LENDERS PREPARE FOR THE INCREASE IN DEFAULTS?
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auto deficiency balance
With nearly 2.2 million vehicle repossessions every year and over $600 billion in auto loans in the United States, many consumers may be wondering what leads to repossession and why they still owe money even after their car has been taken away. This is called an auto deficiency balance.