Tower Loan bill payment basics
Tower Loan is a chain of installment lenders with locations across the United States. When you borrow from Tower Loan, you receive a loan agreement that specifies your payment amount, due date, and the total cost of the loan including interest. You can pay your bill through their website, by phone, by mail, or in person at a branch.
The payment method you choose affects when your payment posts to your account and whether you pay a fee. Online and phone payments typically post within one business day. Mail payments take longer — usually five to seven business days from when Tower Loan receives the envelope — so sending a check early matters if your due date is near.
Tower Loan charges late fees if your payment arrives after the due date shown on your statement. The amount varies by state and by your loan agreement. Missing a payment also affects your credit report and may trigger collection calls.
Key Takeaways
- Tower Loan payments can be made online through their website, by phone, by mail, or at a physical branch location.
- Online and phone payments post within one business day, while mailed checks take five to seven business days to reach the lender.
- Late fees apply if your payment arrives after the due date listed on your statement, and the amount depends on your state and loan terms.
- If you miss a payment, Tower Loan will report it to credit bureaus and may contact you by phone or mail to collect the debt.
Paying online through Tower Loan's website
To pay online, visit Tower Loan's website and look for the "Pay My Loan" or "Make a Payment" section. You will need your loan number and PIN or password to log in. If you do not have an online account, you can create one using your loan number and personal information.
Once logged in, you can choose to pay the full amount due, make a partial payment, or set up a one-time payment. Tower Loan does not charge a fee for online payments made through their website. The payment posts to your account the next business day, so paying online is faster than mailing a check.
If you forget your password, Tower Loan's website has a password reset option. If you cannot access your account or have questions about your loan balance, you can call their customer service line during business hours.
Paying by phone or automatic bank draft
You can pay Tower Loan by phone by calling their customer service number, which appears on your statement. A representative will take your payment information and process the payment over the phone. Phone payments also post within one business day and do not carry a fee.
Automatic bank draft (also called automatic payment or autopay) pulls money directly from your checking or savings account on your due date each month. To set this up, you provide Tower Loan with your bank account number and routing number. Autopay removes the risk of forgetting a payment and is the fastest way to ensure your payment posts on time.
You can cancel autopay at any time by contacting Tower Loan, though you should do so at least a few days before your next scheduled payment to avoid a charge you did not intend.
Paying by mail or in person
To pay by mail, write a check or money order for the amount due and send it to the address shown on your statement. Include your loan number on the check so Tower Loan can match the payment to your account. Mail payments take five to seven business days to arrive, so send your payment at least a week before your due date to avoid a late fee.
If you have a Tower Loan branch near you, you can walk in and pay in person with cash, check, or debit card. In-person payments post the same day or the next business day. Some branches charge a small fee for in-person cash payments, so ask before you pay.
Keep a record of your payment — a cancelled check, a receipt from the branch, or a screenshot of your online confirmation. If a payment goes missing in the mail, you will need proof that you sent it.
What happens if you miss a payment
If your payment does not arrive by the due date, Tower Loan will charge a late fee. The amount depends on your state and your loan agreement, but late fees typically range from $10 to $50 or more. A single late payment also appears on your credit report and can lower your credit score.
After you miss a payment, Tower Loan will contact you by phone or mail asking you to pay. If you do not respond or pay within a certain number of days — usually 15 to 30 — the lender may report the account as delinquent to credit bureaus. A delinquent account can stay on your credit report for seven years.
If you know you cannot make a payment on time, contact Tower Loan before the due date. Some lenders will work with you on a new payment date or a payment plan, though this is not may provide. Waiting until after you miss a payment makes it harder to negotiate.
Understanding your loan statement and payment breakdown
Your Tower Loan statement shows the amount due, the due date, your current balance, and how much of your payment goes toward interest versus principal. Early in the loan, most of your payment covers interest. As you pay down the balance, more of each payment goes toward principal.
The statement also shows your loan number, the original loan amount, the interest rate, and the total number of payments remaining. If you pay extra toward principal, you can shorten the life of the loan and pay less interest overall. Some Tower Loan agreements allow extra payments without penalty, but check your terms first.
If you do not understand a charge on your statement or believe there is an error, contact Tower Loan's customer service. Keep copies of your statements and payment records so you can dispute any discrepancies.
Comparing payment methods and timing
| Payment Method | When It Posts | Fee | Best For |
|---|---|---|---|
| Online (website) | Next business day | None | Fast, no-fee payments you want to make on your schedule |
| Phone | Next business day | None | Payments when you need help or have questions |
| Automatic bank draft | Due date (same day) | None | Never missing a payment; set it and forget it |
| Mail (check or money order) | 5–7 business days | None | Payments if you do not have online or phone access |
| In person (branch) | Same day or next business day | Possible small fee for cash | Immediate confirmation and receipt |
Frequently Asked Questions
Can I pay my Tower Loan bill early without a penalty?
Most Tower Loan agreements allow early payments without penalty, but check your loan documents or call customer service to confirm. Paying early reduces the total interest you pay over the life of the loan because less of your balance accrues interest.
What should I do if my payment was lost in the mail?
Contact Tower Loan immediately and explain that you mailed a check. Provide the date you sent it, the check number, and the amount. Tower Loan can search their records for the payment. If it is not found, you may need to make another payment to avoid a late fee, though the lender may reverse the fee once the original check is located.
Does Tower Loan charge a fee for online payments?
Tower Loan does not charge a fee for payments made through their website or by phone. In-person cash payments at a branch may carry a small fee depending on the location, so ask before you pay.
What happens if I pay late?
A late payment triggers a late fee (amount varies by state and loan terms) and is reported to credit bureaus, which lowers your credit score. If you continue to miss payments, the account may be reported as delinquent and sent to a collection agency.
Can I set up automatic payments if I do not have a bank account?
Automatic bank draft requires a checking or savings account. If you do not have one, you can pay online, by phone, by mail, or in person at a branch instead.