missed payment

USAGE SUMMARY

The phrase "missed payment" is correct and usable in written English.
It can be used in financial contexts to refer to a payment that was not made by the due date. Example: "Due to a missed payment, your account may incur additional fees."

✓ Grammatically correct

News & Media

Formal & Business

Human-verified examples from authoritative sources

Exact Expressions

60 human-written examples

The missed payment started a 30-day grace period.

The New York Times

"In our system it's very clear — a missed payment does constitute a default.

The New York Times

An alert had been placed on the account because of a missed payment.

The New Yorker

That default on Tuesday was the biggest single missed payment in the monetary fund's history.

The New York Times

The missed payment sets Mr. Trump up for his second major debt refinancing in 10 years.

The New York Times

The missed payment dimmed WorldCom's chances of recovering the $408.2 million it lent Mr. Ebbers.

The New York Times

highlighted the charges of lender QuickQuid, which has a £12 fee for a missed payment, while CashCall charges £30.

The Guardian - Money

The ongoing mismanagement of the project "has caused lengthy delays, missed payment targets, and rising costs", the spending watchdog said.

The Guardian

Peru got away, more or less, with a missed payment in 2000, but had a clear rationale and was a known risky and peripheral debtor.

The New York Times

Even if members of Congress do come to a compromise before a missed payment, the current turmoil could do long-term damage to the investor confidence.

The New York Times

The latest missed payment was the result of a long-running legal battle between the government and some holders of the bonds it reneged on in 2001.

The Economist

Expert writing Tips

Best practice

Use "missed payment" in a sentence to clearly state that payment should have been made, but was not.

Common error

Avoid using "missed payment" and "late payment" interchangeably without considering the context. A "late payment" implies the payment was eventually made, while a "missed payment" suggests it might still be outstanding.

Linguistic Context

The phrase "missed payment" functions as a noun phrase, typically acting as the subject or object of a sentence. Ludwig AI shows numerous examples where it refers to the act of failing to make a payment by the due date.

Expression frequency: Very common

Frequent in

News & Media

79%

Formal & Business

12%

Science

9%

Less common in

Academia

0%

Encyclopedias

0%

Wiki

0%

Ludwig's WRAP-UP

In summary, "missed payment" is a grammatically sound and frequently used phrase that refers to the failure to make a payment on time. As demonstrated by Ludwig AI, it commonly appears in news and business contexts. When writing about "missed payments", it's crucial to be clear about the consequences and to avoid confusing it with the term "late payment". By considering these nuances, you can ensure your writing is accurate and effective.

More alternative expressions

Phrases that express similar concepts, ordered by semantic similarity:

Late payment

Focuses on the lateness of the payment, instead of the act of missing it.

Overdue payment

Highlights that the payment's due date has passed.

Payment default

Emphasizes the failure to meet the payment obligation.

Delinquent payment

Implies a neglect of the payment obligation, often used in formal contexts.

Outstanding balance

Refers to the unpaid amount, rather than the act of missing the payment.

Payment arrears

Indicates that payments are behind schedule.

Non-payment

Simply states that no payment was made.

Lapsed payment

Suggests the payment deadline has passed without the payment being made.

Defaulted payment

Indicates a more serious failure to pay, potentially leading to legal consequences.

Unfulfilled payment

Emphasizes the lack of completion of the payment obligation.

FAQs

What are the repercussions of a "missed payment"?

A "missed payment" can lead to late fees, increased interest rates, a negative impact on your credit score, and potential collection actions. The specific consequences vary depending on the terms of the agreement.

What can I say instead of "missed payment"?

You can use alternatives like "late payment", "overdue payment", or "payment default" depending on the specific context.

How does a "missed payment" affect my credit score?

A "missed payment" can significantly lower your credit score, especially if it's a recurring issue. Payment history is a major factor in determining your creditworthiness.

What is the difference between a "missed payment" and a "defaulted payment"?

A "missed payment" is a single instance of failing to pay on time. A "defaulted payment" occurs after multiple missed payments and signifies a more serious breach of the agreement.