Default (finance)
FAILURE TO MEET THE LEGAL OBLIGATIONS OF A LOAN (E.G. BY SUSPENDING PAYMENTS)
Default notice; Default Notice UK; Loan default; Loan payment failures; Default Notice; Debt default; Financial default; Technical default; Payment default
In finance, default is failure to meet the legal obligations (or conditions) of a loan, for example when a home buyer fails to make a mortgage payment, or when a corporation or government fails to pay a bond which has reached maturity. A national or sovereign default is the failure or refusal of a government to repay its national debt.