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English definition of “delinquency”

delinquency

noun [C or U]     /dɪˈlɪŋkwənsi/
US FINANCE, TAX a situation in which tax or borrowed money is not paid or paid back when it should be: The consumer loan delinquency rate has increased 33%. mortgage/tax delinquency
(Definition of delinquency noun from the Cambridge Business English Dictionary © Cambridge University Press)
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