Delinquent

A borrower who fails to make a loan payment on time is considered to be delinquent. Lenders are required to follow due diligence procedures when payments are late. Any loan that is 59 days or less delinquent is reported to the credit bureaus as current. Any loan that is more than 59 days delinquent is reported as delinquent. Loans that are 270 days (or more) delinquent are considered to be in default (note: private loans may have different delinquent and default dates).