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Default: meaning, example and synonyms

Defaultn. Failure to meet an obligation, especially failure to repay a loan when it is due.

Flashcard for Default (noun): failure to meet an obligation, especially failure to repay a loan when it is due. Example: When the regional bank's largest borrowers fell into default, regulators feared its losses might spread to the lenders that had financed it. Synonyms: nonpayment, delinquency, failure. Antonyms: repayment, payment, solvency. Memory tip: Default ~ fault: you're at fault when you fail to pay what you owe. Illustration: a worried couple in sweaters sitting at a kitchen table with a tall stack of unopened envelopes, a padlocked farm gate visible through the window.

Example

When the regional bank's largest borrowers fell into default, regulators feared its losses might spread to the lenders that had financed it.

Part of speech
noun
Synonyms
nonpayment, delinquency, failure
Antonyms
repayment, payment, solvency
Memory tip
Default ~ fault: you're at fault when you fail to pay what you owe.

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Check yourself: Default in context

Pick the word that best completes each text.

Question 1

After three consecutive missed payments, the farm was declared in ______, and the lender began proceedings to take possession of the land.

Question 2

Investors demanded higher interest rates on the province's bonds, reasoning that its mounting debts and shrinking tax revenue made eventual ______ increasingly likely.

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