Will give a brainlest missing one payment may cause borrowers to need a credit report. lose their collateral. be charged a late fee. need a down payment.

Missing one payment may cause borrowers to: be charged a late fee.

Late fee refers to the additional expense that the borrowers must pay to the company in case they are late in paying the agreed amount for their debt. On average, the additional charge is around 1.5% of the total amount per month late.

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