Missing loan payments can lead to overdue payment records, which directly impact your credit score and borrowing ability. Positioned in the middle of your credit history, overdue payment entries lower your trustworthiness in the eyes of lenders. Repeated delays can result in penalties, increased interest, and even legal action. To maintain a good credit profile, set payment reminders and opt for auto-debit options. Avoiding overdue payment not only safeguards your credit score but also improves your chances for future loan approvals.

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