When a loan payment is delinquent, what does that mean? Why do you think loan "delinquency" is a problem?
A) Delinquency refers to an early repayment of the loan. It is not a problem as it shows the borrower's responsibility.
B) Delinquency indicates a late or overdue payment on the loan. It is a problem as it may lead to additional fees and negatively impact the borrower's credit score.
C) Delinquency is a term used for loan approval. It is not a problem but rather a standard process in the lending industry.
D) Delinquency refers to an extension of the loan repayment period. It is not a problem as it provides flexibility for the borrower.
