Serious Delinquency Definition

A "serious" delinquency is an account that is some number of days past due and that either is facing or is involved in collection activities. For most mortgages, a serious delinquency is considered 90 days (3 months) or more past due and will automatically result in foreclosure proceedings.

For most credit cards, a serious delinquency is considered 150 to 180 days or more past due and will automatically result in collection activities. Borrowers who are unable to make payments should immediately contact creditors to work out some repayment strategy-waiting until an account is seriously delinquent is a losing gambit.