What does DELACCT stand for?

This is part of the usual process and a delinquent account can be actively moving through more than one collection agency over a period of only a couple months.

Studies have shown that the possibility of collecting an unpaid bill drops dramatically within a few months, so it is important to act on those delinquent account sooner than later.

If you have a lot of delinquent accounts that you are not paying on you can help your credit from being damaged any further by consolidating those debts, which will show them as paid on your credit report.

However, the balances on those delinquent accounts rose dramatically, up 108 basis points to 6.

Factors such as the length of your credit history, your payment history, collection and delinquent accounts will be looked at carefully.

An audit by the Treasury Inspector General for Tax Administration said interest on penalties is not being assessed throughout the year on most delinquent accounts.

The current credit crunch has made companies even more cognizant of the critical role of the credit and collections functions in managing credit risk and collecting from delinquent accounts," RHI said in a recent release.

The mayoral order instructs that delinquent accounts be referred to outside collection agencies or the collection unit in the city finance office after 45 days; review and implement measures to apply penalties and interest to unpaid accounts; submit quarterly reports on accounts receivable; and submit reports on uncollectible accounts for write-off to the Board of Review.