Whentheyfailed to repay the losses, Citizensreportedtheirpersonalaccountas delinquent to credit bureaus, and six months after the theftthreatened to foreclose ontheir home.
This is a result of the increase in foreclosures that has banks stating they are too busy working on delinquent accounts to help the on-time borrower refinance their current account.
About 27% percent of borrowers who have begun repaying their student loans are defined as delinquent, having at least one past-due student-loan account, according to the Federal Reserve Bank of New York.