answersLogoWhite

0


Best Answer

Delinquency refers to a situation where a borrower fails to make a scheduled payment on time, while default occurs when a borrower fails to repay a loan according to the terms agreed upon in the loan agreement. Delinquency can lead to default if the missed payments continue, though not all delinquencies result in default. Default is a more severe consequence that can have serious financial repercussions for the borrower, such as damage to their credit score and potential legal action by the lender.

User Avatar

AnswerBot

2w ago
This answer is:
User Avatar

Add your answer:

Earn +20 pts
Q: What is the difference between delinquency and default?
Write your answer...
Submit
Still have questions?
magnify glass
imp
Continue Learning about Criminology

Difference between delinquency prevention and delinquency control?

Delinquency prevention focuses on implementing programs and initiatives to prevent youth from engaging in criminal or antisocial behaviors in the first place. Delinquency control involves interventions and strategies to address and manage delinquent behaviors once they have occurred, such as through law enforcement actions or judicial processes. Preventing delinquency is about stopping it before it starts, while controlling delinquency is about responding to it after it has occurred.


Difference between juvenile delinquency prevention and juvenile delinquency control?

Juvenile delinquency prevention focuses on addressing risk factors and providing interventions to prevent youths from engaging in delinquent behaviors. Juvenile delinquency control, on the other hand, involves enforcing consequences and interventions after the delinquent behavior has occurred to manage and reduce future delinquent acts. Prevention aims to stop delinquency before it starts, while control addresses delinquency that has already taken place.


What is the difference between crime and delinquency?

Crime refers to actions that violate criminal laws and are punishable by the legal system. Delinquency, on the other hand, specifically refers to illegal or antisocial behavior committed by minors who are considered under-aged as per the legal system. In other words, delinquency is a type of crime committed by juveniles.


What is the extent of juvenile delinquency in the Philippines?

Juvenile delinquency is a concern in the Philippines, with cases ranging from petty crimes to more serious offenses. Factors like poverty, lack of education, and family issues can contribute to this issue. Efforts are being made to address this through programs that focus on rehabilitation and prevention.


How does delinquency relate to a status of offenses?

Delinquency refers to behavior that is considered criminal or antisocial, typically committed by minors. Status offenses are behaviors that are only considered offenses because of the offender's age, such as truancy or curfew violations. Delinquency can involve status offenses but can also extend to more serious criminal behavior.

Related questions

What is the difference between sub net masking and default masking?

It is Almost same


What is the difference between all user profile and default user profile?

registry


What is the difference between a browser and a default browser?

The default browser is the web browser that will be used when a link (from some other program) is clicked.


When the contractor is delinquent on contract performance the two types of delinquency notices sent by the Contracting Officer are?

cure and default


Difference between delinquency prevention and delinquency control?

Delinquency prevention focuses on implementing programs and initiatives to prevent youth from engaging in criminal or antisocial behaviors in the first place. Delinquency control involves interventions and strategies to address and manage delinquent behaviors once they have occurred, such as through law enforcement actions or judicial processes. Preventing delinquency is about stopping it before it starts, while controlling delinquency is about responding to it after it has occurred.


What are the historical default rates classified by FICO score?

... ICO says consumers in my score range of 750-799 have a delinquency rate of 2 percent. But FICO scores below 500 have an 83 percent default rate, 500-529 shows a 72 percent delinquency rate, in the 550-599 range there is a 52 percent probability of delinquency, 600-649 scores show a 31 percent delinquency rate, and 650-699 have a 15 percent delinquency rate. Over 700 the delinquency rate drops to 5 percent up to 749. If your FICO score is 800 or over, you have a 1 percent delinquency likelihood ... from http://vfconsulting.blogspot.com/2005/07/abcs-of-credit-reports.html


What has the author Michelle A Danis written?

Michelle A. Danis has written: 'The delinquency of subprime mortgages' -- subject(s): Default (Finance), Foreclosure


What is the difference between a null hypothesis and a research hypothesis?

The null hypothesis is the default hypothesis. It is the hypothesis that there is no difference between the control group and the treatment group. The research hypothesis proposes that there is a significant difference between the control group and the treatment group.


Difference between juvenile delinquency prevention and juvenile delinquency control?

Juvenile delinquency prevention focuses on addressing risk factors and providing interventions to prevent youths from engaging in delinquent behaviors. Juvenile delinquency control, on the other hand, involves enforcing consequences and interventions after the delinquent behavior has occurred to manage and reduce future delinquent acts. Prevention aims to stop delinquency before it starts, while control addresses delinquency that has already taken place.


What is a Difference between default paging and custom paging?

Default paging is what it already comes with. It is a pre-made template, while custom paging would be ones on ideas and creativity.


What is the difference between crime and delinquency?

Crime refers to actions that violate criminal laws and are punishable by the legal system. Delinquency, on the other hand, specifically refers to illegal or antisocial behavior committed by minors who are considered under-aged as per the legal system. In other words, delinquency is a type of crime committed by juveniles.


What is the difference between a summary judgment and a default judgment?

Basically, a default judgment is something you did NOT argue about in court by filing answers to the Summons and Complaint, and the Summary Judgment is something you did argue about IN COURT.