Delinquent Credit

Delinquent credit refers to the failure to make payments on any financial obligation when due. Delinquency is usually stated in terms of being past due thirty, sixty, or ninety days and the number of times for each occurrence. Delinquent credit will show poorly on a borrower's credit report and ultimately negatively affect credit score. The more recent a delinquency is and the more frequently a borrower is past due with payment the less likely a lender will grant future credit requests. Lenders are always willing to work with a borrower in times of financial hardship as long as the borrower is communicating with the lender and working towards making an effort to repay a financial obligation.