delinquency
Definition
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.
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delinquency is in the Accounting & Auditing, Banking, Commerce & Finance and Corporate, Commercial, & General Law subjects.
delinquency appears in the definitions of the following terms: credit policy and churning
delinquency appears in these other term: delinquency ratio
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