Home > Research Legal Advice > Debt Collection > Isn't a default basically a long delinquency? And isn't a long delinquen...
Asked over 1 year ago - San Francisco, CA
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I have a lender willing to remove a default for me yet won't remove prior delinquencies (this I am not understanding). If the account was defaulted doesn't that mean it is just one big long delinquency? If they are willing to remove the default, does the account still show 180 day(s) delinquent? If so, what is the point of removing the "default" if the that remains on?
I imagine they mean delinquencies not related to the default or not contributory to it?
A default also means that the creditor has formally declared that a contract has been irreperably broken & the deal is cancelled. In a court settling, a default also means the time to respond has expired & the opportunity to present a defense has expired.
I appreciate that this sounds like much the same thing, but in law, little distinctions have rather large consequences. Hope this perspective helps!
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