What happens if I miss a loan repayment?

If you miss a loan repayment with Servicemaster Acceptance Company, it is important to take prompt action to avoid potential consequences. Firstly, you should contact their customer service team to inform them about the missed payment and discuss possible solutions. Missing a loan repayment can lead to late fees or additional interest charges, which will increase the overall cost of your loan. Moreover, it may have a negative impact on your credit score, making it harder for you to obtain loans in the future. To minimize the impact, Servicemaster Acceptance Company may offer options such as payment extensions, loan modifications, or refinancing. However, it is crucial to communicate proactively to find the best resolution for your specific situation and ensure the minimal impact on your financial status.