Guilty of failing to repay a loan or appear in a court of law: the company is already in default on its loans
More example sentences
- 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.
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