The impact of late payments on your credit score

Overview

Late payments can negatively affect your credit score and impact your ability to borrow in the future. Understanding how late payments are reported and their consequences can help you stay on track.

How Late Payments Affect Your Credit

✔ Credit Bureau Reporting – We report your most recent account status to the credit bureaus as of every due date.
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30+ Days Late – If a payment is more than 30 days late, the delinquency will be reported to the credit bureaus and could lower your credit score.
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Defaults & Long-Term Impact – If a loan remains unpaid for an extended period, it may be classified as default, leading to further credit score reductions and potential collections activity.

How to Avoid Credit Score Impact

✔ Set Up AutoPay – Automatic payments help ensure on-time payments every month.
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Schedule Payment Reminders – Use alerts or calendar reminders to track due dates.
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Contact Support If You Anticipate a Late Payment – If you think you will miss a payment, reach out to our servicing team as soon as possible for assistance.

Next Steps

To maintain a positive payment history and protect your credit score, always aim to pay on or before your due date. If you need help, contact our customer support team for guidance.

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