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. Therefore, if you fail to make your payments, the lender has the legal right to take your car. This process is referred to as repossession.
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