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Definitions from the Web

Defaut

Defaut is a term used in finance and banking, referring to the failure of a borrower to meet their financial obligations. It signifies a situation where a borrower is unable to repay the due amount or interest on a loan, bond, or other financial obligations. Defaulting on a loan often leads to severe consequences for the borrower, including damage to credit scores and potential legal actions taken by the lender.

Senses and Usages:

1. Noun - Default:

- The act of failing to meet financial obligations.

- Example: The borrower went into defaut on their mortgage payments, leading to the foreclosure of their house.

2. Verb - Default:

- To fail to fulfill a responsibility or financial obligation.

- Example: Despite multiple reminders, he defauted on his credit card payment.

Related products:

- Financial Planning Books

- Debt Management Guides

- Credit Score Repair Services