Definition of in default in English:

in default

phrase

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

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