missing one payment may cause borrowers to\n○ need a credit report.\n○ lose their collateral.\n○ be charged…

missing one payment may cause borrowers to\n○ need a credit report.\n○ lose their collateral.\n○ be charged a late fee.\n○ need a down payment.

missing one payment may cause borrowers to\n○ need a credit report.\n○ lose their collateral.\n○ be charged a late fee.\n○ need a down payment.

Answer

Brief Explanations:

When borrowers miss a payment, a common consequence is a late - fee charge. Needing a credit report is not a direct result of a single missed payment. Losing collateral usually occurs after repeated defaults or more severe non - payment situations. A down payment is related to the initial borrowing process, not a missed payment.

Answer:

be charged a late fee.