Will a one-day overdue car loan affect credit reporting?
1 Answers
A one-day overdue car loan may directly affect credit reporting, but regulations may vary depending on the bank or lending institution. Generally, if the delay is due to an accidental oversight in repayment, explaining the situation to the lender and making timely repayment may prevent it from being reported to the credit bureau. In case of overdue payment, the car owner should immediately contact the lender's customer service to proactively negotiate. Typically, banks will send SMS reminders for overdue payments, so it's essential to repay as soon as possible after receiving the notification to avoid more severe consequences.