What does it mean for someone to default?

What does it mean for someone to default?

Default is the failure to repay a debt, including interest or principal, on a loan or security. A default can occur when a borrower is unable to make timely payments, misses payments, or avoids or stops making payments. Default risks are often calculated well in advance by creditors.

How do you use the word default?

Default in a Sentence ?

  1. The bank will repossess your car if you default on your loan payments.
  2. According to my religious grandmother, you default on your commitment to God when you file for divorce.
  3. John is going to intentionally default on his student loan repayments in order to buy a motorcycle.

What’s another word for by default?

“This evil has happened through the governor’s default.”…What is another word for default?

negligence neglect
oversight dereliction
failure delinquency
misprision nonfeasance
disregard lapse

What are two synonyms for default?

synonyms for default

  • delinquency.
  • nonpayment.
  • dearth.
  • defect.
  • deficiency.
  • lack.
  • omission.
  • privation.

What does a default position mean?

If a person, company, or country defaults on something that they have legally agreed to do, such as paying some money or doing a piece of work before a particular time, they fail to do it.

What does it mean open by default?

When you tap an action in Android, a specific application always opens; that application is called the default. This can come into play when you have more than one application installed that serves the same purpose. When you tap on a link, whichever browser is set as your default will be one to open the link.

What’s meant by default setting?

Computers A particular setting or value for a variable that is assigned automatically by an operating system and remains in effect unless canceled or overridden by the operator: changed the default for the page margins. b. A situation or condition that is the case in the absence of active intervention.