Delinquent Loans: What They Are, How They Differ From Default
Fundera
MARCH 3, 2019
Delinquent Loan Definition. If you miss several payments or can’t make payments for an extended time (usually 90 to 120 days), the lender will place the loan in default and can start collection proceedings against you. Both delinquencies and defaults damage your credit. Defaulted loans have worse, longer-lasting consequences.
Let's personalize your content