Delinquent

Delinquent
The term 'delinquent' refers to a financial obligation that is payable but overdue and yet unpaid. It can apply to various forms of payments, such as credit card bills, mortgage payments, and taxes. Delinquent accounts can lead to penalties and interest charges and might affect the credit score of the individual or entity responsible for the payment.

Accounting Terms Lexicon

Discover comprehensive accounting definitions and practical insights. Empowering students and professionals with clear and concise explanations for a better understanding of financial terms.