Researchers presented participants with scenarios in which they would acquire loans. When participants were shown the Terms and Conditions, they found that making the Terms and Conditions choice-based changed the rates people read them from 9.5% to 23.8%, and reading them lead to a 7% drop in delinquency rates. Furthermore, separating the financial costs reduced delinquency from 29.1% to 20%, Finally, people who received reminders to pay in the evening, were 8% more likely to pay than those who were reminded in the morning.
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