language






 

Question by  schwibb (35)

What is a legal term for a missed payment?

 
+7

Answer by  ehmarasigan (20)

When people have problems or experienced difficulty paying off their debts, loans or credit. It cause a huge problem with their loan or card issuer. A "Missed Payment" is most commonly known as "Delinquent Payment" or "Default Payment" for many financial institutions like banks, mortgage companies, lending companies, and credit card companies etc..

 
+6

Answer by  patti (29325)

A missed payment is essentially a "default," in that it violates the terms of the agreement. Multiple missed payments result in a loan being "in default" or "defaulted. " One missed payment is usually not reason to consider the loan defaulted since one payment usually can be made up.

 
+2

Answer by  Bob98 (100)

The proper term for a missed payment is a "legal opinion". Some court would need to have a set of fact and be able to make a decision from those facts. Both parties would need to provide the separate facts in order for a court make a ruling on the matter.

 
You have 50 words left!