Sample 1 Sample 2 Sample 3 Definition of default_1 noun in Oxford Advanced Learner's Dictionary. 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. 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. In computing, "default" may describe several things, including hardware , software , and network configurations. If you don't start saving money now, while you're young, you'll be … One may default on any debt, such as a mortgage or a bond. Guilty of failing to repay a loan or appear in a law court. Your credit score will go down if you default on a loan. Default can also be referring to the dance they do that is given to them. 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. 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. For federal student loans, the first consequence of default is that "acceleration" kicks in, meaning that the entire loan balance is due immediately. 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. default the failure to do that which ought to be done. Law Failure of a party in a case to make a required court appearance. ‘the company is already in default on its loans’. Default Explained . Meaning, pronunciation, picture, example sentences, grammar, usage notes, synonyms and more. 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. If you default on your secured credit card payments, the card issuer will typically apply your security deposit to the amount you owe. There are actually two answers, depending on the context in which the term "default" is used. defaulted definition: 1. past simple and past participle of default 2. to fail to do something, such as pay a debt, that…. Far too many people are hardcoded to no or maybe as their default setting. the risk of … Enrich your vocabulary with the English Definition dictionary The term "default" gets thrown around a lot in divorce cases, but what does it mean? 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. Some legislation may provide for special notice to be given as in consumer credit or in relation to mortgages. Used to describe an outcome that happens because nothing has been done to change or prevent it. 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. 2. While it is not specific to computers, it is commonly used in IT terminology. 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. 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. When a party fails to respond to a divorce petition within the time proscribed by law, the party is "in default." Defaulting on a loan means that you have failed to make sufficient payments for an extended period. Failure to perform a task or fulfill an obligation, especially failure to meet a financial obligation: in default on a loan. Get the details here. Another word for default. Otherwise, the debt will default. A default judgment could spell the end of a lawsuit, or the defendant could have time to ask that the judgment be "set aside" so the case can proceed. Default definition, failure to act; inaction or neglect: They lost their best client by sheer 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. Some pros are hidden among Defaults.Defaults are known for doing the same dance over and over. To explore this concept, consider the following default judgment definition. 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. 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. Spanish nouns have a gender, which is either feminine (like la mujer or la luna) or masculine (like el hombre or el sol). default definition in English dictionary, default meaning, synonyms, see also 'in default of',judgment by default',defaulter',dealt'. As a verb, it means "to fail to pay." 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. Usually, the notice gives the debtor about two weeks to cover the missed payments. An example of a default is when the user opens a music file and the computer automatically opens it in iTunes. The default location is where a program defaults to first when wanting to save or install a program. by default 1. We use cookies to enhance your experience on our website, including to provide targeted advertising and track usage. 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 … 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. 1. 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. Defaulting means failing to live up to one's obligation. 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. Default is also a failure to pay a financial obligation. Find more ways to say default, along with related words, antonyms and example phrases at Thesaurus.com, the world's most trusted free thesaurus. The default for this computer is with the sound off. ‘Initially, I wasn't even sent the paperwork until my loans were in default.’. Learn more. El valor por defecto para esta computadora es con el sonido apagado. A person in Fortnite who is complete garbage and has no skins. The failure to make payments on a debt. The two meanings are linked by the idea of failure or lack (from French faillite/défaillir). failure to pay money that you owe at the right time in default The company is in default on its loan agreement. b. el valor predeterminado (m) means that a noun is masculine. Illiquidity: A debtor has insufficient cash (or other "liquefiable" assets) to pay debts. More example sentences. See more. Yes, default (action/position) is a common usage meaning "the typical course of action, unless there are other considerations or exceptional circumstances". Thus, failure to make payment under a contract is a default; more specifically, failure to repay or otherwise comply with the terms of a loan agreement are acts of default. default in The bank can seize the asset in the event of a default in payment. Default is an adjective that describes a standard setting or configuration. 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 … Computadora es con el sonido apagado es con el sonido apagado means that a noun masculine! A mortgage or a bond sound off software, and network configurations a financial obligation as their default setting prevent. 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