What happens if I miss a payment?
Asked a year ago
If you miss a payment with Credit Acceptance Corporation, certain consequences may apply. Initially, a late fee could be assessed, resulting in an increased overall payment amount. Additionally, your credit score may be negatively impacted as the missed payment will be reported to credit bureaus. This may make it more challenging for you to obtain credit in the future. Credit Acceptance Corporation may also contact you regarding the missed payment, sending reminders via mail or calling you. It is essential to communicate with Credit Acceptance Corporation promptly if you miss a payment to discuss potential solutions and avoid further repercussions.
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