An "Overdue Payment" occurs when a payment is not made by its due date. This can happen in various situations, such as unpaid bills, loans, or invoices. When a payment is overdue, the creditor may charge late fees or interest, and it can affect the debtor's credit score. Businesses often send reminders to customers about overdue payments. If the payment remains unpaid for an extended period, the creditor may take further action, such as involving a collections agency or pursuing legal measures. Timely payments help maintain good relationships and financial health for both parties involved.