It depends on the context that the term delinquency is being used. Many use the terms delinquency and derogatory interchangebaly.
You can be delinquent of an OC account without it being reported as a derogatory on your CR. Legally, you are delinquent one day after the bill due date, which can affect terms of your CC agreement, but the OC cant report this to the CRA as a derog on your CR until the delinquency exceeds 30-days after the bill due date.
Once an OC charges off their account and places it into collection, additinal monthly delinquencies cease to pile up, and fiurther derogatory reporting to your CR is either by way of the OC posting a CO, or the OC referring or selling the account to a collection agency.
A CA does not report monthly delinquencies, such as a 120-day late. You dont have an account wth the CA. CA reporting is between the CA and athe CRA. A CA reports the date their collection activity begins, the amount of the debt under collection, and its current status as unpaid, paid in part, paid in full, or terminated. They can update this simple status montlhly, but does not report 30/60/90/120+ lates.
What you are probably seeing with the 120-day late is the prior reporting of account delinquencies by the OC, not the date of delinquency under the CA account.
