It does not - like he said there is no negative effect on your credit until you are 30 days late. Trust me, you don't want that to ever happen because they will drop your score hard and the negative marks will stay on your report for 7 years. Keep in mind after the 15th (on the 16th day) they will charge you a late fee (usually at least $30) and that can add up too and they typically won't remove those off.
Not really
Mine was due on the 26th of every month
Just saying
Thank you I needed to hear this 😅
Glad to help!
Does this affect our ability to get another loan if we pay one time after the 16th?
It does not - like he said there is no negative effect on your credit until you are 30 days late. Trust me, you don't want that to ever happen because they will drop your score hard and the negative marks will stay on your report for 7 years. Keep in mind after the 15th (on the 16th day) they will charge you a late fee (usually at least $30) and that can add up too and they typically won't remove those off.