On the holiday note, is anyone here putting off loans for a month or even risking being late on payments to cover some expenses at the end of the year, xmas etc? What does everyone advise?

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I wouldn’t do that. I would sacrifice gifts before I skipped a loan payment.

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I only skip payments to get daily $9 lattes at Starbucks.

funnysmart

No - and agree with the other 2 comments here. I wouldn't skip a payment but rather sacrifice payments to gifts, etc. Not worth the dip in credit score.

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I thought there's a 12 month on-ramp period where late or missed payments aren't going to lead to penalties nor get reported to credit.

It's up to you... but I think 1 miss won't hurt you.

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Yes. Did a skip-a-pay to cover some of the unusual expenses

I wouldn't skip any payments. I have struggled with credit issues through the years and have finally got myself into a good position. I don't want to risk any late payments that will negatively affect my credit score. They are so quick to ding your credit score.

My credit score just dropped by 133 points because the borrower whose loan I consigned didn't make on time payments. Any advice on this?

likeupliftinghelpful

I do not skip payments. I was making payments during the pause and have made some headway.

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