Failure to make a payment when it is due. The condition of a loan when a scheduled payment has not been received by the due date but generally used to refer to a loan for which payment is 30 or more days past due.
Failure to make a payment when it is due. The condition of a loan when a scheduled payment has not been received by the due date but generally used to refer to a loan for which payment is 30 or more days past due.