what is a cash credit account 
a cash credit account is a type of short term financing generally extended to businesses it involves withdrawals permitted from an existing account regardless of the account s balance limits are imposed however and interest is charged these accounts are typically provided for a set term such as 12 months the bottom linea nonperforming asset is a loan that s been extended and is now in default or arrears the borrower is late with payments or isn t making payments at all banks and lenders must adjust their balance sheets to accommodate nonperforming assets and they can cause a financial burden particularly over time banks and lenders might respond by repossessing or foreclosing on collateral or turning the loan over to a collection agency borrowers and lenders have rights however so consult with a finance professional or attorney if you find yourself on shaky financial ground and you re unable to repay or collect on debts 