While we don't charge late fees, if you pay late, pay less than your amount due or miss a payment, you’ll accumulate more interest and your final payment will be larger as a result. In addition, payments that are not made in full and on time may result in an event of default under your Installment Loan Agreement. Also, late payments, partial payments, missed payments, or defaults on your loan may be reflected in your credit report.
Now that you've learned more about paying late, let's continue to explore how Marcus can help you better manage your debt.