Definition of delinquent accounts - The Bills.com Blog

Bills.com Blog > Other Questions > Delinquent Accounts

Definition of delinquent accounts

Question: I had a delinquent account with my bank; I went on a overbalance payment plan and paid it off over the course of five months. I now have a "delinquent account" note in my credit history and it has affected my rating.... the question is what is my credit percentage or how can it now be described my the financial nomenclature: i.e. am I with"fair" credit?

Answer: How much this one account will affect your credit score depends on many other factors, such as the number of positive accounts you have on your credit report to balance out the negative influence of this account. Since I do not know the full details of your credit history, I cannot say how much this one delinquent account will damage your overall credit score.

Also, since you have not told

me your current credit score, I also cannot tell you how potential lenders will view your credit rating in terms of your credit risk. However, if you visit the Credit Scoring Site (http://www.creditscoring.com/pages/bar.htm) you can read more about how different credit score ranges are viewed by different creditors. While there is no official scale for judging

a credit score, a ?fair? credit score is generally considered to be in the mid 600s.

Bills.com offers a wealth of information about credit, credit reports, and credit scoring, available at http://www.bills.com/credit/. I hope that the information I have provided helps you Find. Learn. Save.

Best,
Bill
www.bills.com

Also, make sure to get a free financial health check-up with Bills IQ!

Submit questions/comments about this post:

Bill has answered all sorts of questions and has been able to provide those in need of financial guidance with helpful and valuable advice and information on their specific financial area of interest. If you need specific guidance on any of the above mentioned financial areas, feel free to Ask Bill your financial questions and get better informed. Also, make sure to get a free financial health check-up with Bills IQ!

Name (required)
Email (required never displayed)
Comments
	Please enter the characters you see in the image above.