Definition of past due loan

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TeachMeFinance.com - explain past due loan



past due loan -- a loan on which payment in full is 30 to 60 days past due, but partial payments are being made. See delinquent loan and nonaccruing loan.

delinquent loan -- a loan that is 30 to 60 days past due with no payments being made. See past due loans and nonaccruing loans.

nonaccruing loan -- a loan that is more than 60 days past due with no payments being made, and that has stopped accruing interest. See delinquent loan and past due loan.



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Mark McCracken

Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English".


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