late payment


The payment made to the lender after the due date has passed.

Use late payment in a sentence

You should always make sure that you do not make a late payment that may effect your credit score in the future.

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Due to the late payment, the borrower was charged with a late fee on their account to the total of thirty five dollars.

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I you are unable to make your payment on the scheduled due date, your payment will be considered to be a late payment by the loaning institution.

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