Default (Verb)
Meaning
Fail to pay up.
Classification
Verbs of buying, selling, owning.
Examples
- The company will default on its loan if it doesn't receive immediate financial assistance.
- Despite their best efforts, many homeowners ended up defaulting on their mortgages during the economic downturn.
- The family risked defaulting on their car loan due to the rising interest rates.
- After losing her job, Sarah defaulted on her credit card payments and had her account suspended.
- The small business was on the verge of defaulting on its rent after months of struggling to stay afloat.