Definition of in default in English:

in default


  • Guilty of failing to repay a loan or appear in a law court.

    ‘the company is already in default on its loans’
    • ‘Nationwide, only 6.9 percent of loans were in default in 1998, down from 8.8 percent in 1997.’
    • ‘The company needs its debtors to sign a waiver agreement that will allow it to start talks without being in default on its loans.’
    • ‘To qualify, individuals would have to work full time at a tribal college and not be in default on existing educational loans.’
    • ‘The move came after bankers said the company, which has its main operations in South Africa, was in default on its credit facility.’
    • ‘We recognise an asset as non-performing if it is in default for 180 days while the world norm is 90 days.’
    • ‘This in turn puts strains on the banking system on account of increases in the percentage of loans that are delinquent or in default.’
    • ‘The measure of nonperforming debt includes loans that are restructured or in default for three months or more from banks and credit cooperatives.’
    • ‘The firm, which is also in default on a $1bn loan, has warned that operations at some of its oilfields may grind to a halt this week.’
    • ‘Initially, I wasn't even sent the paperwork until my loans were in default.’
    • ‘When he arrives, the loan is in default and Shylock is demanding his pound of flesh.’
    behind, behindhand, late, overdue, in the red, in default, in debt
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