To Possible, a late payment is any unsuccessful payment or any payment made more than 13 days from the *originally selected payment date.

Unsuccessful payments:

  • Can lead to overdraft fees from your bank
  • May affect our ability to lend to you in the future

Late payments (made 14 or more days from the originally selected payment date):

  • May affect our ability to lend to you in the future
  • May negatively impact your credit score 

To TransUnion and Experian, a late payment is any payment made more than 29 days from the *originally selected payment date.

We'll always do what's best for our customers. If you need to push your payments out, we can help! 

We never charge late fees. However, we can only update payments up to 29 days from your original payment date without impact to your credit score, per credit reporting laws. There's no way around it, unfortunately. 

Possible reports to two of the three major credit bureaus, TransUnion and Experian. Payments made 30 days or more from the originally selected date will need to be reported as late to TransUnion and Experian. Increasingly negative marks will appear at 60 days past due, 90 days past due and so on.

We recommend using the update payment date feature in the app to stay on top of your payments! Be sure to reach out to our customer success team at least 2 business days in advance if you need help updating your payment dates or updating your payment information. 

Notes: *Originally selected dates refer to the payment dates agreed upon in your loan agreement. Here's more information on Originally selected payment dates.



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