default in The bank can seize the asset in the event of a default in payment. Defaulting on a loan means that you have failed to make sufficient payments for an extended period. Your credit score will go down if you default on a loan. default definition in English dictionary, default meaning, synonyms, see also 'in default of',judgment by default',defaulter',dealt'. ‘Initially, I wasn't even sent the paperwork until my loans were in default.’. 2. Enrich your vocabulary with the English Definition dictionary Payment Default means any default in the payment of principal of, premium, if any, interest on, or other amounts payable on, or in connection with Senior Debt, irrespective of whether such default in payment results from a failure to pay any amount when originally scheduled to be paid or upon acceleration or otherwise. See more. Some legislation may provide for special notice to be given as in consumer credit or in relation to mortgages. by default ⇒ in the absence of opposition or a better alternative: he became prime minister by default in default of ⇒ through or in the lack or absence of judgment by default ⇒ a judgment in the plaintiff's … Another word for default. Default is an adjective that describes a standard setting or configuration. An example of a default is when the user opens a music file and the computer automatically opens it in iTunes. Some pros are hidden among Defaults.Defaults are known for doing the same dance over and over. Secured personal loan : Defaulting on a secured personal loan could cause you to lose the collateral, such as cash in a savings account, used to secure the loan. Default Explained . Otherwise, the debt will default. When a party fails to respond to a divorce petition within the time proscribed by law, the party is "in default." Lenders will deem a loan in default when you haven't paid the minimum required payment for a certain number of months in a row, as detailed in your loan contract. Sample 1 Sample 2 Sample 3 That meaning is failing to do something one is legally obligated to do: a default or breach of a contract, for example, or a default on an legal obligation to pay a bill, and so on. The two meanings are linked by the idea of failure or lack (from French faillite/défaillir). While it is not specific to computers, it is commonly used in IT terminology. ‘the company is already in default on its loans’. Before a debt becomes in default, a notice of debt default is sent by the creditor to the borrower, stating how far behind the debtor is in his or her payments, as well as how much is needed to keep the payments updated. Used to describe an outcome that happens because nothing has been done to change or prevent it. Default judgments are most often awarded to plaintiffs when the defendant fails to respond, but a defendant may be awarded such a judgment in the event the plaintiff fails to attend a hearing or trial, or fails to meet certain deadlines for filing documents. No matter which side of a civil case you’re on, it’s important to understand what a default judgment means to your lawsuit, and what happens next. the risk of … b. el valor predeterminado (m) means that a noun is masculine. Default definition, failure to act; inaction or neglect: They lost their best client by sheer default. DEFINITIONS 2 1 if something happens by default, it happens only because someone does not do something else If nobody stands against him, he will become leader by default. by default 1. Law Failure of a party in a case to make a required court appearance. Guilty of failing to repay a loan or appear in a law court. Get the details here. If this balance doesn't get paid off, the government can then withhold tax refunds or any federal benefits that the borrower receives. The number of loan defaults was down this month. Learner's definition of DEFAULT 1 [noncount] — used to describe something that happens or is done when nothing else has been done or can be done — usually used in the phrase by default No one else wanted the job, so he became the club's president by default. Far too many people are hardcoded to no or maybe as their default setting. Find more ways to say default, along with related words, antonyms and example phrases at Thesaurus.com, the world's most trusted free thesaurus. default the failure to do that which ought to be done. The failure to make payments on a debt. While there may be very good reasons and empirical evidence for this tendency, backed by the adage the road to hell is paved with good intentions, people who default to yes generally get more out of life by being predisposed to taking risks. Defaulting means failing to live up to one's obligation. The term "default" gets thrown around a lot in divorce cases, but what does it mean? A default can occur on secured debt such as a mortgage loan secured by a house or a business loan secured by a company's assets. For example, with Microsoft Windows programs, the default location for installing programs is the \"Program Files\" folder and the default location for documents is the \"My Documents\" folder. A person in Fortnite who is complete garbage and has no skins. Learn more. Usually, the notice gives the debtor about two weeks to cover the missed payments. Illiquidity: A debtor has insufficient cash (or other "liquefiable" assets) to pay debts. The default location is where a program defaults to first when wanting to save or install a program. More example sentences. If you don't start saving money now, while you're young, you'll be … 1. Default is a very serious matter and may entitle the lender or bondholder to take possession of one's assets in order to recover the amount lost in principal and interest payments on the debt. In contract law, when one of the parties to a contract fails to fulfill his obligation in the contract, he is said to be \"in default.\"From a legal standpoint, although both negligence and being \"in default\" result from some form of failure on the side of a party to a contract and can be grounds for a breach of contract lawsuit, the two terms differ in meaning. El valor por defecto para esta computadora es con el sonido apagado. There are actually two answers, depending on the context in which the term "default" is used. For federal student loans, the first consequence of default is that "acceleration" kicks in, meaning that the entire loan balance is due immediately. Default is also a failure to pay a financial obligation. One may default on any debt, such as a mortgage or a bond. To explore this concept, consider the following default judgment definition. We use cookies to enhance your experience on our website, including to provide targeted advertising and track usage. If you default on your secured credit card payments, the card issuer will typically apply your security deposit to the amount you owe. The term "default" should be distinguished from the terms "insolvency", illiquidity and "bankruptcy": Default: A debtor has passed the payment deadline on a debt they were due to pay. There may be other choices to play music files, such as Windows Media Player, but the computer is programmed to attempt to open this type of file in iTunes first as its default … Insolvency: A legal term meaning a debtor is unable to pay their debts. Translation for 'default' in the free English-Polish dictionary and many other Polish translations. In computing, "default" may describe several things, including hardware , software , and network configurations. Failure to perform a task or fulfill an obligation, especially failure to meet a financial obligation: in default on a loan. Yes, default (action/position) is a common usage meaning "the typical course of action, unless there are other considerations or exceptional circumstances". defaulted definition: 1. past simple and past participle of default 2. to fail to do something, such as pay a debt, that…. Spanish nouns have a gender, which is either feminine (like la mujer or la luna) or masculine (like el hombre or el sol). The default for this computer is with the sound off. failure to pay money that you owe at the right time in default The company is in default on its loan agreement. As a verb, it means "to fail to pay." Default can also be referring to the dance they do that is given to them. Meaning, pronunciation, picture, example sentences, grammar, usage notes, synonyms and more. Definition of default_1 noun in Oxford Advanced Learner's Dictionary. 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