<p>Might be careful with the auto payment option. As noted by others there has been a tendency for payments to not be credited on time. But once your routing number and acct are within their system it is essentially also available to the collections department. And certain of these loan companies do have a implied and applied policy of attempting to drive these loans into collections as it is much more profitable. It’s common practice for their agents (when dealing with slightly late payments be it eft or paper) to ask for account and routing numbers. Something which they do not have the legal right to do. Although it is common for them the imply they are governmentally sanctioned, which is a shifty intimidation tactic.
And if paper payments which have been sent on time are not being credited in a proper manner is a substantial ethics issue. And if a paper payment is sent on time it should not be a matter of hoping for chances. At the mere fact we tend to even consider the that idea as normal is indicative that this industry has gone too far.</p>