nonpayments
Failing to pay
Nonpayments are instances of failing to pay money that is owed.
The term appears in financial and legal contexts where debts go unsettled: The bank reported a rise in nonpayments on auto loans.
Repeated nonpayments typically trigger penalties, collection efforts, or legal action.
Criminal or neglectful behavior
- arrearsOverdue financial obligations
- overduePast expected arrival
- defaultPreset standard option
- outstandingExceptionally good or unpaid
delinquent · in arrears · behind · late · owing · unsettled · outstanding balance · shortfall
Lender seizes mortgaged property
- repossessionCreditor seizing collateral
- evictionForced departure from rental
- bankruptcyLegal status when insolvent
- collectionsGathered groups of items
garnishment · seizure · forfeiture · lawsuit · litigation · judgment · lien · auction
Inability to pay debts
- hardshipSuffering from difficult circumstances
- unemploymentBeing without paid work
- cash flowMoney entering and exiting
- insufficient fundsLacking required money
financial distress · inability · economic hardship · job loss · medical emergency · overextension · budget shortfall
Numerical measure of borrower reliability
- credit reportRecord of borrowing behavior
- FICOCreditworthiness rating system
- credit historyRecord of past borrowing
- creditworthinessAbility to repay debts
credit damage · credit bureau · Experian · TransUnion · Equifax · credit monitoring · subprime
Penalty for overdue payment
- interestAttention, stake, or fee
- surchargeExtra fee added
- penalty feeCharge for violations
- fineAcceptable in quality
collection fee · legal costs · court costs · accrued interest · administrative fee · service charge
delinquency
Criminal or neglectful behavior
outstanding · delinquent · in arrears · behind · late · owing · unsettled · outstanding balance · shortfall
foreclosure
Lender seizes mortgaged property
- repossessionCreditor seizing collateral
- evictionForced departure from rental
- bankruptcyLegal status when insolvent
collections · garnishment · seizure · forfeiture · lawsuit · litigation · judgment · lien · auction · write-off
insolvency
Inability to pay debts
- hardshipSuffering from difficult circumstances
- unemploymentBeing without paid work
- cash flowMoney entering and exiting
insufficient funds · financial distress · inability · economic hardship · job loss · medical emergency · overextension · budget shortfall
credit score
Numerical measure of borrower reliability
- credit reportRecord of borrowing behavior
- FICOCreditworthiness rating system
- credit historyRecord of past borrowing
creditworthiness · credit damage · credit bureau · Experian · TransUnion · Equifax · credit monitoring · subprime
late fee
Penalty for overdue payment
- interestAttention, stake, or fee
- surchargeExtra fee added
- penalty feeCharge for violations
fine · collection fee · legal costs · court costs · accrued interest · administrative fee · service charge
nonpaymentspayments
Money given for obligations
settlements · remittances · disbursements · repayments · payoffs