delinquency

Popular Terms
Failure to repay an obligation when due or as agreed. In consumer installment loans, missing two successive payments will normally make the account delinquent. In credit card payments, a delay of 15 to 30 days is generally allowed before declaring delinquency.

Use 'delinquency' in a Sentence

If you don't come up with the cash for a loan on time and get charged with delinquency it will have adverse affects on your credit score.
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It didn't matter how many times the credit union called him, Max seemed wholly unconcerned about the continued delinquency of his car payment.
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If you find yourself with to much delinquency you may get a bad credit rating impacting your chance of getting future loans.
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