How Late Can You Be on a Car Payment, Mortgage or Other Bill?
Credit Corp
JUNE 14, 2023
Many lenders give borrowers a grace period before they technically consider the payment late. Lenders consider any payment not made within this allotted time frame a late payment. Since each lender has its own terms and conditions, it’s important to read the terms of your auto loan. This process is referred to as repossession.
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