Loan Payments

[Josh111]

I have a loan with one of the big banks. I always pay on time but once recently, I missed the monthly payment by three days and received what I thought to be an extremely threatening letter saying that if such a thing happens again, they will take action. Is this possible? I was especially shocked as before that and since then I have never missed a payment deadline.

Thanks all!

[pink-kittens]

It's a bog standard, computer printed letter put into an envelope by some inhuman robot designed to do only that during their shift. It is also designed to put the fear of God into you.

Pay no heed and pay on time and you'll get no more however, late payments will show up ion your credit history and you could be refused credit elsewhere because of this