Q.Is there a way I can miss next month's payment on my 2009 Chevrolet Trailblazer? How would I do that and what would happen?

A. If there's a very good reason that you can't make your next car payment, such as a layoff or medical emergency, call your bank or finance company before the due date and explain the problem. (The customer service number is on the bill or coupon book.)

Your lender might allow you to skip a payment now by adding an extra payment to the end of your loan.

But the lender is under no obligation to do that. Don't be surprised if your request is turned down, especially if you've ever been late with a previous payment or you have below-average credit.

If you fail to make your next payment without your lender's permission, you'll be in default on the terms of your loan.

The bank or finance company will charge you a late fee and probably impose a penalty rate on your account, which means the interest you'll pay on your loan will be higher, making all future monthly payments more expensive. (Take a look at your loan agreement. All of the penalties for missing a payment will be spelled out in excruciating detail.)

Even worse, your lender could threaten to repossess your Chevy if you don't immediately repay the entire balance of the loan -- another typical penalty for defaulting.

We can almost guarantee that the bank or finance company will send a repo company after your Trailblazer if you miss two payments.

The missed payment will also show up on your credit reports and cause all sorts of grief with other creditors.

It will cause your credit score to drop by about 100 points -- enough to turn an average score into a subprime or very poor score -- and mark you as someone likely to default on other loans.

The banks that issue your credit cards will be among the first to act, raising the interest rates on your cards, reducing the credit limits or even closing your accounts.