Life happens. If you have missed a car payment or you think you might miss one soon, do not panic. You have more options than you think, and the most important thing you can do is take action quickly.
The First Days: Interest Begins Accruing
On the first day after your due date passes, interest begins accruing on the unpaid balance. This is how simple interest loans work. Interest is calculated daily on whatever principal remains unpaid, so the longer the payment goes unpaid, the more interest accumulates on top of what you already owe. This accumulation is the main reason acting quickly matters so much.
The Grace Period and Late Fees
Your retail installment contract specifies your exact grace period and late fee amount, so review those terms if you are unsure. During the grace period, while your payment is technically late, you have some time to catch up before a late fee is assessed. If you make your payment during this window, it also will not appear as a late payment on your credit report. The longer you wait, the more the unpaid balance grows, so treat the grace period as a safety net, not a schedule.
Day 31 and Beyond: Credit Bureau Reporting
If your payment goes more than 30 days past due, it enters serious territory. At this point, your missed payment may be reported to the credit bureaus. A single late payment can impact your credit score and remain on your report for up to seven years. This 30 day threshold is critical, and it is why calling us before this date is so important. If you can make your payment or arrange something with us before day 31, you may avoid a credit bureau report entirely.
Once reported, the late payment becomes part of your credit file. It affects your score, your ability to qualify for other credit, and the terms you receive when you do qualify. The damage is real, but it is not permanent. As you rebuild with on time payments, the impact of that single late payment gradually diminishes. Our article on how your car payment builds credit explains how the rebuild works.
Days 60 and Beyond: Increased Consequences
Beyond 60 days, the situation becomes significantly more serious. You may receive additional notices and collection attempts, and the consequences become harder to reverse. If nonpayment continues, the account can enter default status, and the possibility of repossession becomes real. We understand that life creates unexpected financial emergencies, and we would genuinely prefer to work with you before the situation reaches this point.
What to Do Right Now: The Most Important Step
The most important step is to call us immediately. Reach our team at (855) 562-4820 as soon as possible, ideally before your payment is even due if you know you will struggle. We can discuss your situation, explore payment arrangements, and help you get back on track. The worst thing you can do is avoid the call. We genuinely want to help, but we cannot do anything if we do not hear from you.
When you call, have your account number ready and be honest about your situation. Tell us whether you think you can make a payment in the next few days, whether this is a temporary hardship or a longer issue, and what your income situation looks like. We cannot tell you what your options are until we understand your full picture, but options do exist. Customers are often surprised by the flexibility available when they pick up the phone.
Making a Partial Payment
If you are able to make any payment at all, even a partial one, do it. A partial payment shows good faith and reduces the interest that is accruing on your account every day. If you can send half of your payment now and the remainder in two weeks, that is better than sending nothing. From there, work with our team to create a plan that fits your current circumstances. We would much rather work with you to find a solution than see your account fall further behind.
Payment Channels When You Are Ready
When you are ready to make a payment, you have many options. The fastest is the online portal at accountinfo.com, where debit card payments process the same day. You can also pay by phone at (855) 562-4820. If you prefer digital wallets, we accept Cash App, Venmo, PayPal, Google Pay, and Apple Pay. For in person payments, PayNearMe, Western Union, and MoneyGram locations work nationwide. You can also mail a check to Daltra Capital, P.O. Box 88059, Chicago, IL 60680-1059, though mail takes the longest, so allow five to seven business days. Our guide to every way to make a payment covers each channel in detail.
How to Prevent It from Happening Again
Several simple steps can protect you going forward. Setting up AutoPay at accountinfo.com is the most effective way to ensure you never miss a payment. The payment pulls automatically each month, so there is nothing to remember. If your current due date does not align with your pay schedule, call us and ask about a due date change. Setting a calendar reminder three days before your due date gives you a buffer to make sure funds are available. Building even a small payment cushion in your account can make a big difference when an unexpected expense pops up.
Understanding Your Options When Struggling
If you are in a genuine hardship situation, there may be options available. Temporary payment arrangements, modified schedules, or other accommodations depend on your specific circumstances. We cannot promise anything without speaking to you, but we also do not want you to assume there are no options. Too many customers assume they are stuck and avoid calling, when in fact a conversation opens possibilities. The sooner you reach out, the more options we have to work with.
The Importance of Communication
The pattern we see repeatedly is this: customers who communicate early and honestly with us find paths forward. Customers who avoid the problem and hope it resolves itself end up in far worse situations. A phone call in week one is a conversation. A phone call in month three is a crisis. We do not want to see your credit damaged or your car at risk. We want you to have reliable transportation and a strong financial future. That is only possible if we are talking.
Bottom Line: Act Fast, Stay Honest
Missing a payment is not the end of the world, but it is something you want to address quickly. The key is to act fast, communicate openly, and get back on track as soon as possible. The earlier you call, the better positioned we are to help. Do not wait until the damage is done, and do not let embarrassment keep you from picking up the phone.
We are here to help, and the sooner you reach out, the more we can do.
Call us: (855) 562-4820