payment delinquency

USAGE SUMMARY

"payment delinquency" is correct and usable in written English. You can use it when referring to a situation where a payment has not been made by the due date. Example: "The company reported an increase in payment delinquency among its clients." Alternative expressions include "payment default" and "late payment."

✓ Grammatically correct

News & Media

Academia

Formal & Business

Human-verified examples from authoritative sources

Exact Expressions

1 human-written examples

If we didn't "resolve" our payment delinquency, it politely warned, "you will lose your home".

The New York Times - Magazine

Human-verified similar examples from authoritative sources

Similar Expressions

59 human-written examples

Mortgage lenders will find a way to survive in a cooling real estate market and despite rising homeowner payment delinquencies.

Forbes

Your personal circumstances and history -- stability, absence of derogatory credit information, such as payment delinquencies, lawsuits and tax liens, and so forth -- are the influencing factors.

HuffPost

"We think late payments, delinquencies will continue.

The New York Times

Foreclosures and loan-payment delinquencies have wreaked havoc with lenders and investors holding mortgage-backed securities, causing financial catastrophes at financial institutions like Citigroup, American International Group, Wachovia and many others.

Forbes

The debt will be added to your debt ratio - and so will the late payments, delinquencies or other problems attached.

Huffington Post

Last year it had $310 million in pretax profits, from about $800 million in total revenue, three-quarters of which came from fees, including onerous late-payment and delinquency fees, in addition to the initial charges.

Forbes

Most companies report late payments or delinquency to agencies--but they often have a grace period.

Huffington Post

In this capacity, Prosper collects repayments of loans and interest, contacts delinquent borrowers for repayment, and reports loan payments and delinquencies to credit reporting agencies.

TechCrunch

Despite that fact that the servicers collect payments, monitor delinquencies and manage billions in cash flow, they have virtually no regulatory oversight.

Forbes

The site defines excellent as essentially meaning no missed payments, no delinquencies on your credit report, spiffy clean.

Los Angeles Times

Expert writing Tips

Best practice

When discussing financial matters, use "payment delinquency" to specifically denote the state of being behind on payments, as it carries a more formal and precise connotation than simply saying "late payment".

Common error

Avoid using "default" interchangeably with "payment delinquency". Delinquency refers to a temporary state of being behind on payments, while default implies a more permanent inability or unwillingness to pay, often leading to legal action.

Linguistic Context

The phrase "payment delinquency" functions as a noun phrase, typically used as a subject or object in a sentence. Ludwig AI indicates that the phrase is correct and usable in written English, serving to describe a situation where payments are not made on time. It accurately and specifically indicates a financial obligation that is overdue.

Expression frequency: Very common

Frequent in

News & Media

34%

Academia

28%

Formal & Business

15%

Less common in

Science

14%

Reference

5%

Encyclopedias

4%

Ludwig's WRAP-UP

In summary, "payment delinquency" is a noun phrase that describes the state of being behind on scheduled payments. Ludwig AI confirms its correctness and usability in English, especially within financial and legal contexts. The phrase appears very commonly in news, academic, and business contexts, highlighting its importance in formal communication. Related terms include "late payment", "overdue payment", and "payment default", each carrying slightly different connotations regarding the severity and permanence of the payment issue. When using this phrase, remember it differs from "payment default" by describing a temporary condition, not necessarily a complete inability to pay.

More alternative expressions

Phrases that express similar concepts, ordered by semantic similarity:

late payment

This alternative is more general and directly refers to the act of paying after the due date.

overdue payment

This alternative emphasizes that the payment's due date has passed.

missed payment

This alternative focuses on the failure to make a payment.

default on payment

This alternative indicates a more serious situation, suggesting a potential inability to pay.

payment arrears

This alternative refers to the accumulated amount of past-due payments.

payment default

Implies a failure to meet the payment obligations, potentially leading to legal consequences.

outstanding balance

This alternative refers to the unpaid amount that is still owed.

delinquent account

Focuses on the account status rather than the payment itself.

non-payment

Directly states the absence of payment.

failure to pay

This alternative describes the act of not fulfilling the payment obligation.

FAQs

What is the difference between "payment delinquency" and "payment default"?

"Payment delinquency" refers to a temporary state of being behind on payments. "Payment default" indicates a more severe situation where the borrower is unable to fulfill the payment obligations, potentially leading to legal consequences.

What are common causes of "payment delinquency"?

Common causes include job loss, unexpected expenses, over-extension of credit, and poor financial planning. Addressing these issues can help prevent "late payments" and maintain a healthy credit history.

How does "payment delinquency" affect my credit score?

"Payment delinquency" negatively impacts your credit score. Lenders view late payments as a sign of increased risk, leading to lower credit scores and potentially higher interest rates on future loans.

What can I do to avoid "payment delinquency"?

Create a budget, set up automatic payments, and prioritize essential bills. If you are struggling to make payments, contact your creditors to explore options such as "payment plans" or hardship programs.