Overview

Making your loan payments on time helps you avoid fees, additional interest, and potential credit impact. This guide explains what happens if a payment is missed and how to stay on track.

What Happens If Miss Your Due Date?

• Your account becomes past due the day after your scheduled due date.
• We will send a reminder if your minimum monthly payment is not received by the due date.
• Additional interest continues to accrue on unpaid amounts after your due date. This may result in a higher final payment than shown in your original amortization schedule.
• Account status is reported to credit bureaus each month If your loan remains unpaid into the next billing cycle (30+ days past due), it may negatively impact your credit.
• If your loan remains unpaid for an extended period and enters an Event of Default, more serious consequences may occur. This can include collections activity, repossession (for auto secured loans), additional fees, or further negative credit reporting. Please review your loan agreement for specific details.

How to Avoid Late Payments

1. Enroll in AutoPay – Automatic payments help ensure your payment is made on time each month.
2. Schedule Payment Reminders – Use calendar alerts or app reminders.
3. Make a Payment Early – You can submit a payment before your due date at any time.
4. Contact Us Before Your Due Date – If you anticipate difficulty making a payment, reach out as early as possible to review potential loan assistance options.

Next Steps

If you’re concerned about making a payment, take action before your due date to avoid additional interest, fees, and potential credit impact. Contact our support team for assistance.