 TITLE: What Happens If I Default on a Loan? CONTENT: What Is the Difference Between Default and Delinquency?\n-------------------------------------------------------\nIf you're behind on your payments, loan delinquency and default are two consequences you'll face.\nDelinquency begins the moment you've missed a payment. You'll typically be charged a late fee, and your lender will begin to make collection attempts. You may be considered delinquent for anywhere between 30 and 90 days—and sometimes longer—before the lender considers you to be in default.\nWhen the lender determines you are in default, typically collection attempts begin in earnest, either through the lender's own collection department or a third-party agency. END