What happens if I miss a loan payment?
Asked 6 months ago
If you miss a loan payment with ACS Education Services, it is crucial to address the situation promptly. The specific consequences will depend on the details of your loan agreement and applicable state laws. Generally, missing a loan payment can result in late fees and a negative impact on your credit score. It is advisable to communicate with ACS Education Services as soon as possible regarding your inability to make a payment, as they may be able to offer alternative repayment options or temporary forbearance. Ignoring missed payments can lead to more severe consequences such as wage garnishment or legal action. Therefore, it is essential to be proactive in resolving any missed payment and to work with ACS Education Services to find a solution that suits both parties.
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