Default On (Verb)
Meaning
Fail to pay up.
Classification
Verbs of buying, selling, owning.
Examples
- The company will default on its loan if it fails to make the next payment.
- Borrowers with poor credit history are more likely to default on their mortgages.
- She had to declare bankruptcy after she defaulted on her credit card loans.
- The firm's inability to secure new investors may cause it to default on its outstanding debt.
- He risks defaulting on his student loan if he doesn't find a well-paying job soon.