Each monthly payment is due on a certain predetermined date. This date is your permanent payment due date. It can be found in your promissory note, or when you log into your Stilt application. It is the same date every month.
Unlike most loan companies and credit card companies, we allow for a few days of grace period. We will not charge you a late fee if you are only late by a few days. We understand that you may not be paid or receive funds until a day or two after your monthly payment due date. We try our hardest to keep cost low for our borrowers. While most companies will charge you a late fee if you do not post a payment on your due date, we try to offer our borrower some flexibility.
To avoid any late fees we recommend signing up for autopay, this will keep the repayment process easy and hassle-free.
*The exact date and amount in which you will be charged a late fee will be disclosed in your promissory note.