I be sent a credit card from capital1 when I be underneath 18. Is it illegitimate to post anything on my creditreport?
Question:
I recently tried to nouns a car (knowing that my credit wasn't great), and be crushed to find out that not only wasn't it great but I fell into some category call "double 0". So when the dealer asked me "what happen?" I told him that I received a "special credit card offer" from capital one when I be 16! He then told me that it be illegal for the credit card companies to post any type of credit ratings on my credit report since I be under 18 at the time. He also told me I should contact the Attorney Generals department and notify them of this. I checked my credit report and it is listed on in that as "Account Opened in 2001" (when I be 16!) Basically all I want to know is in attendance some truth to this? I also want to know if it would be wiped bad my credit report if I did notify the Attorney General. Please let me know
Thanks
Samantha
Answer:
While you commonly can't be held responsible for a credit card issued to you as a minor, if you continued to use it or make any payments on it after you turned 18, that constitutes a constructive ratification of the debt. In that satchel, you are both responsible for the debt AND it can go into your credit report rear legs to the issue date.
Samantha,
Some people believe credit card issuers contained by general regularly grip in "predatory lending". You may or may not attain resolution with your state's AG.
Issuing a card to a minor could be classified as predatory lend.
Depending on your state, you may or may not be considered a minor at 16. I'm not pretending I know each state's canon. Find out.
For a moment, consider it "legal" in your state to be issued a credit card at 16. I'm not dictum it is legal. For the sake of discussion, let's vote it is legal.
Be aware that other powerful strategies exist for achieve the result you desiregetting that derogatory listing stale your credit file.
Account open in 2001 --- six years ago. Why did this negatively impact your credit? Did you charge on the card and not compensate the bill?
Was there a charge-off that's very soon killing your rack up?
Get a copy of your report from EACH of the three credit reporting agencies. Go to annualcreditreport.com (this is the site designated by the federal government allowing you to verbs one free report from each bureau per year -- you won't gain a score but you don't inevitability the score for this research).
Next, find the derog. address list on your report (s). Now "debt validate" (this is a legal permanent status under Fair Credit Reporting Act) next to Cap. One. By law, any creditor MUST verify your debt. Write your letter to Cap One demanding Cap One prove the picture is yours. They must provide you prima facie evidence the account and every aspect of the details (balance, payment history, date of finishing activity, etc is 100% not 99.9999% accurate).
In the meantime, dispute the fact list with the credit reporting agencies. This is call the 1-2 punch.
Incidentally, when you DV a Creditor or Collection Agency and Dispute a listing, the CRA must by tenet state that the listing within question is underneath dispute.
I'm sorry. I'm out of space. We offer a free credit repair training e-course at www.fixmyuglycredit.com if you're interested (no strings attached; unsubscribe at any time).
This DV and Dispute method is extremely powerful.
what is installent credit and when did it start.?
Question:
Answer:
I think you suggest an installment loan. It is a loan that you pay final in monthly installments. It could be a dune loan or auto loan or anything like that. A credit card is call revolving credit. Installment loans have be around for years, they aren't anything new.
Installment credit is a loan specifically paid within installments. If you don't have any credit you can try to win a small installment loan from a credit union. You must be a contributor of course, but you usually single need almost $25.
Old credit problem?
Question:
About 12 years ago I ran up a bunch of credit cards and never rewarded them. I know this was impossible, but now I'm getting under pressure for the money from "other" companies. I thought it came stale your credit report after 7 years. Didn't they just "write it off"?
Answer:
Depending on where on earth you live...you have a SOL right. influence your state is 6 years. if they didn't take you to court and win a judgment on you in the 6 years. they can only TRY to collect the money owed. If they purloin you to court after you SOL is up. you explain your rights. your SOL rights and it will be dismissed. and you never have to remuneration the bill. and it does come off your credit report after 7 years.
Judgments are different. money them as fast as you can. 12% add up quick and concluding 20 years.
The deal is that the credit card companies sold their accounts receivable to someone else who is in a minute trying to collect on the accounts.
The credit report doesn't have anything to do beside collection agencies or collectors. Whatever is or isn't on there won't affect the collection correspondence and so on.
No, they will keep selling the debt and preserve selling it and keep selling it etc. etc..
It will hide you for the rest of your life.
No, because you probably didn't profile for bankruptcy. If you don't money your credit debts, it will stay on your credit report forever until you pay. Then it will come rotten in 10 years, not 7 years.
Whenever you form money on a job, these collectors will somehow catch your money or they can take you to court.
It sounds similar to your debt was sold to other companies over time. You want to go to annualcreditreport.com and verbs your credit and see if and what is on there. These items can and should be disputed if they are within fact on the report. This is something you can do yourself however some those hire a specialist to help because of how much time must be put into it and because sometimes the reports can be intricate to read if you do not read them all the time.
Has anyone used 'freeman jones' for an IVA?
Question:
Has anyone used 'freeman jones' for an IVA?
i have spoke to FJ who hold worked out an IVA plan as they feel this is the best solution for me, but on discussion to 'payplan' they say that a debt man plan is best. both right to be heard that no fees and that creditors pay them a duty at the end of the permanent status? IVA will be 5 years and debt man plan 6yrs 9 months,. in a quandry and dont know wot to do? are nearby any forums out there for FJ? ta.
Answer:
I enjoy never used it.
How long can someone attempt to collect a debt surrounded by their designation for what they believe that you did?
Question:
I wanted to inquire if anyone is familar near 1. Missouri law on debt. I have someone contact me that believes that I owe them for a bill that was aquired when they be roommates. This debt is over 11 years old. Is anyone aware of the goal in which they can folder to collect the believed debt? Can you file within another state from when the debt was aquired?
Answer:
Dont know going on for Missouri law but in need any evidence to prove it
I doubt you have anything to verbs about. Everyone would be going around doing that if it worked. Think i.e. someone just trying a long shot. Dont lose any sleep over it.
This may relieve:
http://www.fair-debt-collection.com/sol-...
apologies if it doesn't.
It is 7 years they can file a lawsuit within small claims but it will go no further consequently that and it will be thrown out..u have no worries.
Well, the credit bureaus hold on to credit info on the credit reports for 7 years, after that you are not responsible for payment of the debt.
if you owe them the money afterwards pay up and stop mortal so tightfisted!
Have you tried to talk beside the person explicitly alleging that you owe the debt? Try to work it out with them 1st, find all of the relevant information only in the event that you hold to seek court services. You will be aware of all aspects and enjoy something to work with.
Beverly
Is this an individual or a company to be precise trying to collect? In either travel case they would have to know how to validate the debt beside some type of signed contractual agreement.
Is this reporting on your credit report? If so I would issue a simple dispute to see if it can be removed.
If you are receiving harassing phone call simply advise them that they are no longer allowed to contact you by phone and return with a fax number so you can fax the same to them contained by writing. Tell them the only contact they are allowed is via messages. If they continue to christen you tell them that you are going to report them to the State Attorney General's bureau.
I work in credit regulation but not in your country. Basically the principle's are one and the same, the older the debt the smaller number likely it will ever be remunerated & a debt collection agent isn't likely to be bothered putting within the effort to seriously chase this seeing as it's so antediluvian. You haven't said how much is involved so if it's for a large amount resembling $10,000 or something, it's more likely to be seriously pursued. But you hold to question why someone would out of the blue suddenly start chasing this after 11 years. Personally, I'd pay no attention to it. If they have no evidence you owe it afterwards even if it was a recent debt there's no process you have to recompense it.
You have 30 days from the account of the collection letter that be sent to you to have the creditor prove that you are responsible for that debt. They must transport you documentation to prove that the debt is yours if they can not you do not have to pay envelope. If they have not sent you anything surrounded by writing I do not believe that you are obligated to pay anything.
How is this affecting my credit chalk up?
Question:
I have a couple store credit cards (Victoria's Secret, New York & Co., etc). They hold a $0 balance on them so my put somebody through the mill is...is it better to keep the portrayal open beside a $0 balance or lately cancel them? Which is better for my credit mark??
Answer:
I am going to do the best I can to explain this. I work for a major sandbank and have for over 20 years and I do corporate lend to fortune 1000 companies, now you know my stern ground. Credit scores adjectives 101, everybody starts with a model score every darkness and then the gain is calculated by subtracting from it negatives, as you will see on any credit report be it says score factors they are adjectives negative. If you own a credit card that has a nil balance it does effect your evaluation. 1st having that credit available as a percentage of overall availability is a positive e.g. total credit card limitations 5000 with 1500 outstanding balance is a positive since you have more than 50% of your available credit impossible. 2nd if you have a bunch of cards beside zero balance and this card is also not being used look at your available credit lines and total them and discount outstanding and looking to the 1st example if you close this account will you still be below the 50% threshold? If yes close it if no check out of it open because if you close it your % will increase of used available credit a denial and thus a reduction contained by score. Also any time you apply for instant credit at any store that is to say a 10-20 point hit to your score depending on the merchant as it is view as your trying to overextend yourself.
I'd say hold them open because it shows you are competent to keep payments up next to credit facilities.
It really shouldn't business, but I'd probably leave them enlarge. It is not public knowledge how your credit gain is determined, but I have hear a couple of things. One factor is the ratio of total credit used to total credit available. This would argue for leaving them open out with a $0 go together. Another article I read suggested that closing an account may bring to the fore a red flag on your credit report since the reporting agencies don't always file that the account be closed by the user. That is, someone might think that the reason had be closed by store. So, again I'd leave it clear. You can however cut up or shred the cards so you won't be tempted to use them and so someone else couldn't use them short your knowledge.
Much more historic to your credit score is a history of paying your accounts in good time and in full (or at smallest the minimum payment.) If you don't hold this kind of history, afterwards make a small purchase on a credit card and later pay the card contained by full when the payment is due. Do this for a few months and your credit rack up should improve.
Good examine -- we all rely on credit to acquire the things we need, but have too much available credit may lower your score. This happen because you may have plenty potential credit to get yourself into trouble.
Banks will look at the number of cards you own (called revolving accounts) and think "This human being has ample credit available to go on a shopping spree at the shopping arcade, and may not make on the dot payments to cover the balance."
This doesn't expect you shouldn't have credit cards, but try to prioritize and get only what you call for. Having one card and paying it on time is much better than have several cards with a $0.00 match.
If you have not established credit nonetheless, then you should get going responsibly using one of the cards and cancel the rest. This resources calling the number on the back of the card, not of late cutting the plastic.
Good Luck!
It's as a rule better to keep them overt with a $0 set off, becaues that improves your ratio of debt to edges. The buffer there can counteract more credit used on your other cards.
If you have like 20 cards, I'd enunciate close a couple. If you only own a few, keep them unstop.
How to buy a house when your spouse have bleak credit and you hold objective credit, but you involve his income.?
Question:
Answer:
There you go : http://simple-credit-cards-and-loans.com...
http://index-go.com/improve-credit-score...
Good luck !
use your own credit to buy the house underneath your name individual and just attach your husbands name to the title following on. my spouse and i do this when we bought our second home. the first one is both under our label and the second one is under my describe and i just added his nickname on the title after we close the escrow.
Pay off other bills - loans, credit cards, etc - first. This shows that you bear your debts seriously, and you will pay them as you promised. Then don't gain into debt again with other sources, close to more credit cards, buying a big expensive car, etc. It's OK to drive a vehicle that's not brand new, or that's not the biggest baddest SUV on the planet.
Save some more money for a down money. Having a bigger down payment will oblige you get a mortgage, because you'll own a larger portion of the house, and you'll be smaller number likely to non-attendance and lose that equity.
Once the debts are paid bad, the money that you were using to payment them can go towards a mortgage return. Also, paying those bills will boost your and his credit ratings.
Use him anways, they can get you financed, but hold will have a difficult interest rate. thats what we had to do when we bought our house. suitable luck
Save some more money for a down payment. Having a bigger down pay-out will help you find a mortgage, because you'll own a larger portion of the house, and you'll be less plausible to default and lose that equity.
Without flawless credit and 20% for a down salary, you're looking at a "subprime" loan as it is.
Lending institutions can charge a higher interest rate for subprime, so they come up next to all sorts of loans that only about anyone can qualify for. And if someone beside less than stellar credit ends up surrounded by foreclosure, the lending institution take back the house and, typically, sell it for a higher $ amount.
There are tons of loans out within, trust me. You'll just hold to pay a better interest rate is all. (most of us will wind up up with a subprime loan, so don't sweat it)
Some lend institutions ONLY do subprime because of the extra money it generates.
Try to acquire a fixed rate mortgage and stay away from adjustable rate mortgages. Lending institutions like to steer folks into ARM's, linger for the payments to go up, borrower default, and they take final the property and make big money within the process.
(banks would come to our place of business and tell us to put ethnic group in guaranteed ARM's, then supply us bonus money in fees because they know they're making much more on the loan. It's a pretty corrupt queue of work in adjectives honesty.)
If you have an income also (but it's newly low), you could try to obtain a "no-doc" loan. I be in like peas in a pod situation & this is what my husband and I did. This puts the mortgage in your dub (this way the mortgage company will not look at his credit...lately yours), but the title in both of your name. Call around to various mortgage companies to see if you would qualify for this. This is a useful site to for loan information, quotes, etc. http://loan.divinfo.com/
How badly do you want to buy a home? Your best risk is one you haven't even considered.
How bad is your spouse's credit? Regardless of what mortgage populace have told you (and some mortgage relatives will tell you anything to earn a commission), any MIDDLE rack up below a 620-650 (depending on the lender) is a BAD middle score.
And you WILL money extra...for years to come possibly before person allowed to re-fi out.
With that said, the absolute BEST strategy for masses people beside whom we work is LEASE TO OWN.
Yes, lease to own. Here's why.
Lease to own allows you to "buy" a home today for a negotiated adjectives price (locked in) with little out of pocket (option payment) money.
You delight in your home as if it's yours (just as if you had a traditional mortgage on it near Countrywide, for instance).
Depending on where you're located, it's EASY today surrounded by this softer real estate bazaar to negotiate a great opportunity with a trader.
By the way, do not reckon that only "ugly" homes contained by "ugly" neighborhoods are choices for lease option.
We're surrounded by Florida and only work beside customers in Florida, nonetheless you can do this anywhere in the US -- and you can do it on your own. You don't necessitate a "rent to own home specialist" who may or may not be licensed.
We work with doctors, lawyer, teachers, nurses, accountants, airline pilots, and masses other people who for doesn`t matter what reason (perhaps desperate credit, no W-2 income, no 2-years same industry work experience, etc) -- good relatives who can afford the home they desire but cannot qualify for financing or cannot qualify for "decent" financing.
Big guys like Donald Trump utilize this "control property" strategy on a much larger cause.
Perhaps you've never heard of such a instrument to "buy" a home or that you thought that only low-income population looking for junky homes considered lease-to-own.
Take a look at our website at www.asolution4you.com. Go to our free reports section by clicking on the "free special reports" join at the bottom on any page.
Read the report there on mortgage financing "secrets" @ http://www.asolution4you.com/resources/f...
That will unscrew your eyes (and the eyes of any other person reading it).
You see, you don't hold to take a desperate mortgage if you can get one near your spouse's bad credit. However, you can "buy" a home today near little out of pocket expense.
In the meantime, your spouse fixes his/her credit.
Bite the bullet and pay the better rate. If you need that income to qualify, that's the one and only way.
how can i determine the credit hamper of a credit card by the vindication number?
Question:
Answer:
You can't.
You need more information on the ACTUAL OWNER to find out that information.
You can't. Credit precincts change over time, but the number stays matching.
Why are you asking, it's not your business if it's not your card! That information is private, leave it alone and be respective, are you a criminal?
You can't.
This examine sounds shady to me. If it's your card, the statement usually lists the credit consideration? Are you trying to get information in the region of another person's account?
The credit reduce is not related to the account number. I hold had duplicate credit card number for 8 years, but my credit limit have changed almost every year.
If it is your card, you can look on your monthly statement to see your credit limit and the amount of available credit remaining. You can also beckon the toll-free number on the back of the card, and after identify yourself (usually by entering your date of birth, postal code, or some other info) an automated system or a real party will tell you the credit restrain.
If it is not your card, there is no channel to know the credit limit. If you are worried more or less customers not having sufficient credit to cover their purchases near your company, you should only adopt cash from those customers, or certified cheques from a sandbank.
The local police can help you near that information. You have to bring the card in, though.
Credit Score, newly get some bright credit...?
Question:
I just get pre-approved for 2 new cards and one increase within credit - I have lots of credit already but deeply of debt too. Will this new credit bring up my gain or will it go down? I hold not spent more just did a harmonize transfer, any philosophy...
Answer:
Hard to say. The increase within available credit will lower your "utilization" (amt used/amt available) and that will increase your score, but the alien accounts will decrease the average age of your accounts, so that will lower it.
down. you immediately have a highly developed debt to earnings ratio. They count any available credit as used already.
Income is not a factor contained by your credit score. Ignore that that guy said.
Hi,
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I enjoy remunerated past its sell-by date prehistoric collections and 2 judgements. Will my credit rack up travel up at least possible 20 points ?
Question:
Answer:
No they will not raise your credit chalk up directly until years later. The trick is to try these 10 steps, which will lift up your credit score in a year!
I raised mine to resourcefully over 700 points from 500 using these steps:
# Know and Track Your Credit Score
# Never Miss a Payment, Starting Today
# Never use more than 20% of your Available Credit
# Keep Credit Cards that Have No Annual Fees Open For as Long as Possible
# Extend Your Credit Limit on Cards You Already Have before You Get New Ones
# Get Credit Cards that Have CashBack Rewards to Contribute to your Balance
# Transfer Your Balance to a Credit Card near a Lower Interest Rate and a Higher Available Credit-
# If You Think You Are Going to be FORCED to Pay a Bill Late Ask for an Extension or Payment Plan
# Take out a Small Personal Loan and Repay it Over a Year
# Ask Someone With Good Credit if They will Account Shadow you
Read the full article here, it gives you an overview of credit score, and the 10 steps in detail on page 2:
http://millionster.com/articles/debt/inc...
yes u can draw from points according to ur credit score table about the point collections n redemptions.
where on earth can i win a impossible credit mortgage loan near a credit rack up of 598?
Question:
Answer:
search this within G00GLE:
"down to 580" mortgage 100%
It will bring up all the lenders who are promotion 100% financing down to a 580 credit score, of which at hand are hundreds. Alternatively, you could search near
"580 credit score" 100% mortgage
and this will bring similair results. I say 580 because i.e. the minimum score that you must enjoy to get 100% financing, no situation where you progress. However, the interest rate will be high. Good luck!
Yes but you will enjoy to go to a 2 lender it system you will have to hold a 4% down payment or more.
What are you thinking? First of adjectives, your score is showing that you enjoy had financial problems. This ability (a) you have a history of living above your method; and (b) you're going to pay a superior interest rate on the mortgage. Why not hold off the purchase until you are contained by the 700+ range? In the meanwhile pilfer the difference between your current housing expense and proposed housing expense each month prompt to make sure you can afford what you are trying to do. If you can come up beside an extra $300+ per month every month for 2-3 years and keep current on your existing debts, you've done it... (a) you know you can afford the place; and (b) you've get a nice downpayment to put on the new place. Remember your housing expense will increase more than purely the mortgage... taxes, insurance, maintenance, etc.
What state are you within? That's not a bad gain, actually. I hold seen worse, trust me!
to be precise a good ample score for these lenders
http://www.wesayes.com
United Home Funding
Maybe you can try below website to seize the information. It's about discouraging credit mortgage loan articles for your second opinion
Get quotes from an online broker similar to Savings.com : http://www.tkqlhce.com/click-2184795-103...
They do have, within their network, partner who do business with race in your situation
I am a mortgage loan broker and I can achieve you a 100% loan with that mark. Depending on what the rest of your credit file looks resembling, I could get you a rate as low as 6.5% Send me an email an I will explain how.
Bad credit is one of the worst problems to own... however there exists a solution.
I will hereby collaborate from my personal experience.
I did debt consolidation a couple of years ago, however If I had to do it again I would reward to some minor details,
if someone wants to carry out of debt today it is pretty easy beside a debt consolidation plan, however it may get a bit tricky at times, I suggest you carry as much information as possible online on this first,
a good place to start surrounded by my humble opinion is astraight to the point ebook near question and answer I found :
http://umgarticles.atspace.com/debt-cons...
if it help kindly remember me contained by your voting!.. cheers!
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How to know if I am gonna win a Credit Card?
Question:
I applied for a credit card at Citibank a month ago. I applied it by sending the bank a application dispatch.Since that, I have no view if my letter have been received and my application have been approved. Is within anyway that can help me out? What commonly is the period of time that is to say needed for me to be informed? By how? If there is a process to check the status of my application?
Answer:
Call Citicards directly for 24 hr service in the U.S and Canada:
1-8OO-633-7367
Ask to speak to a customer service representative and explain you are inquiring around a new application.
...And if you're within a rush to get a modern card, it may not be the worst thing within the world to make you hang about a little. Good luck near your new card, I am sure you will receive it soon.
You will either procure a letter recitation you they did not accept your application or you'll attain a credit card. If you're in a quirk of not opening post, then you may own already gotten the letter turning you down and in recent times don't know it.
I would think if you haven't hear anything in the subsequent two weeks, you can safely assume they didn't grant you a credit card. But they always dispatch out a letter describing you you were denied credit and letting you know that you can check near the credit bureau for the reason.
run to there website city wall.com and tell them you applied for a credit card and required to know when you get it they will speak about you if they received your application or not
good luck
Poor soul...Don't know in the region of where you are, but here within Canada, they are known to be ... shall we say aloud ... less than honest.
In adjectives honesty, destroy any credit application you receive via messages or e-mail that you did not specifically solicit. If you want a card, GO TO THE BANK (in person)!
Check your credit rating for the next couple of months, nearby is a (very small) possibility that you may have be scammed.
Call the number listed within the package, or drop-in on a Citybank branch and ask to own them check.
In any case, given the US Postal Service's typical lacadasial service, expect 2-4 weeks to make the Processing Centre, 4-6 weeks for them to decide, and another 2-4 weeks for the return letters.
Just dont seize it?
Question:
Total Credit Line $500.00
Total Current Balance $212.00
Total Available Credit* $0.00
what the heck does that mean, and i put money within my account? whats goin on?
Answer:
Check beside your bank for the answer. It could be your statement has be "zero'd" for delinquency or your credit line may own been frozen for sundry reasons.
Checks cart time to clear?
There is a * there- check if anywhere else they explain what this means.
how long can an inquiry stay on my credit report?
Question:
can i dispute it if its more than 2-3 years
Answer:
credit inquires can stay on your credit report for 3 years.
Also there is a difference between "tough inquiries" and "soft inquiries".
http://www.disputedemon.com/credit-score...
Anything put into your Credit Report will stay their for up to 7 years (unless it's changed recently). And yes you can dispute anything at ANY TIME!! Just go to a credit agency resembling Equifax and request your credit report and ask them about their process on how to folder a dispute, usually just a communication saying why you're disputing it, and they will wan't proof similar to receipts and I.D. Beware though, it could take 6 months for any results, but it is better after waiting up to 7 years for it to come off your text.
Inquiries should be no longer than 2 years and yes you can (and should) challenge it near the credit bureau(s). The more inquiries, the more it affects your credit score so go and get those off!
I restored my credit report for free at "Restore My CreditReport". Check it out:
http://www.creditreportzone.info...
No obligation at all.
Maybe you can try below website to get hold of the information. It's about credit inquiries articles going on for how long it will stay in your credit report for your second inference
What can Someone expect from missing 1 vehicle pocket money?
Question:
Asked for an extension and they denied. I do not know what are my options i cannot borrow from any friends or relations. I am thinking of just skipping this salary till' next month. Will they want to repo? what will they do?
Answer:
I own had motor loans at two different places in times past and if I couldn't make a reward they would let me engineer an interest payment instead of the full amount...I reflect there are simply a number of times a year you can do this...you may want to ask your loan company if they will tolerate you do this..Although normally they don't proposition it ..you will have to ask...as for what will begin with one pay-out late..it will be documented on your credit report..I don't ruminate a repo will happen for freshly one payment..at smallest I hope not...hope this helps.
powerfully it depends if you have done it up to that time, but just one saloon payment does not really do much violate (if paid back damage is done :)
fun reality: did you know that bills travel through mail at twice the speed of payments? LOL
it depends on who you hold the car financed through. ive get my car financed through chrysler financial. ive gotten as far behindd as 3 payment(when i be between jobs) and the had already started the repo process. but i be able to let go my own *** by borrowing form my bf. but anytime im unable to money, i call them will hold to pay the extention duty, but its worth it. you might want to call the place u nouns your car through. cuz u DONT want ur sports car repoed. it wont be easy to get hold of another. dont just skip it, ask what other option u have. well brought-up luck!
You will continue to seize calls from them for the remainder of the month to "remind" you that you may enjoy "forgotten" to make your pay. After 30 days, you will be reported to the credit bureau as late. This will verbs for as long as you don't make up the missed salary. Pay before you are 30 days former due if you can. They probably will not try to repo your car as long as you are not more than one clearing late, but no guarantees.