How Late Can You Be on a Car Payment, Mortgage or Other Bill?
Credit Corp
JUNE 14, 2023
In fact, your payment history accounts for up to 35% of your credit score. Car Repossession It’s important to realize that an auto loan is a type of secured loan. The vehicle you purchase serves as collateral for the loan. This process is referred to as repossession. If you fail to do so, the lender can sell your car.
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