"delinquent debt" is a correct and usable phrase in written English.
It is typically used to refer to debt that is past due or overdue. Here is an example sentence: "The company struggled to stay afloat due to a significant amount of delinquent debt on their books."
He worked out a plan to pay off $9,000 in delinquent debt, mostly the mortgage.
"The supply of delinquent debt is growing exponentially," said Mr. Siegel of Franklin Credit Solutions.
A new report says that delinquent debt is on the rise for very small and large businesses.
"Broadly speaking, a precedent of deleting adverse information once a delinquent debt is paid would seriously impinge on the quality of data," a spokesman said.
About $100 billion in credit card debt is sold annually in the United States, and debt buyers will typically purchase a portfolio of delinquent debt from creditors for between 3.5 and 7.5 cents on the dollar.
Often, huge portfolios of delinquent debt are sold to a debt buyer for pennies on the dollar; the debt buyer, in turn, may hire a collection agency, or a law firm specializing in debt collection.
The better option would be for the department to take the $1.4 billion it paid collection agencies and other groups last year and use it to establish a division that deals with delinquent debts and loan disputes.
They should also be told that delinquent debts can cause their interest rates to soar not just on their credit cards, but on car loans and mortgages as well.
The students need to know, for example, that the penalties associated with delinquent debts will accrue to them — and not to their parents, as many students seem to think.
Businesses hire debt collection firms like Hanna & Associates to recover delinquent debts from consumers.
Navient owns Pioneer Credit Recovery, which collects delinquent debts on behalf of the Education Department and hundreds of local governments across the country.
