Debt Delinquent

When do we consider debt to be delinquent?

3 Answers

In general, you can be considered delinquent after 30 days but it also depends on the terms and conditions of the account and the type of account. So, you will have to know the type of account you are unable to make payments on and the terms and conditions of that account.
 


Every debt has written agreement...a card holder agreement, a prom note or a signed financial obligation agreement.  If you do not follow the terms of that agreement, you are deliquent.

How to Deal with Illegal Loans..OhioGal's Primer
http://www.debtconsolidationcare.com/paydayloan/dealingwith-illegallenders.html
PDL's are ILLEGAL in the following states...
AR, AZ, CT, GA, ME, MD, MA, NJ, NY, NC, PA, VT AND DC
OH AND NH have very restrictive low cost interest rate laws.

SOL for all states
http://www.debtconsolidationcare.com/statute-of-limitation.html

I hope the following link may help you to understand clearly when we consider debt to be delinquent:
http://noteinvestors.com/what-is-delinquent-debt.htm”

 


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