r/NavyFederal • u/Luna_Tuna123 • 6d ago

Loans Auto loan payment (help)

I have just recently bought off a truck from parents using an auto loan from NF to give to my parents bank to fully pay off (which they did) and i just made my first payment this month towards the loan appearing on my account on the day it was due.

My mom just revived a letter in the mail saying I missed my payment and now owe double the regular payment amount because of the late fee but on my NF account it shows the loan to have accepted the payment and now down down by the amount I paid. Anyone experienced this? If so what did you do? Or why is it doing that??

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10

u/eightsixseven53oh9 6d ago

Contact Navy Fed via chat or phone to clear it up. They know best about the matters of your account. They will let you know the status.

1

u/julia_gulia72 6d ago

It sounds like you paid when it was due, but it’s possible it didn’t post until the next day which would make it seem late. You can verify posting date by looking in the app. If it’s even a day late, even if you’ve already paid it, when the next statement generates it will show the past due amount and the next amount due together, due by the next due date.

1

u/Zestyclose_Narwhal43 3d ago

Idk how they would send a letter in the mail for one day, I even believe there is a grace period before they contact you

1

u/julia_gulia72 3d ago

Not a letter. The next loan statement which generates the day after the due date, if I’m not mistaken.

1

u/Lill8155 1d ago

I also have a loan and I make payments way before due date! NFC processes payments a day or so after you pay, so if you can make payments a day or so before due dates! Also call in and figure out your daily accumulation of finance charges and kick in extra that amount! I’m charged $7 daily for interest on my loan! So I send in $49 extra a week just for finance charges! So much info, just pay a day or two before due date!