default

/dɪfˈɒlt/

/dɪˈfɔɫt/

Default

loss due to not showing up

a predefined option based on which a computer or other device performs a particular task unless it is changed

loss resulting from failure of a debt to be paid

synonyms : nonpayment

antonyms : payment

a failure to fulfill official demands and obligations especially ones concerning financial matters

synonyms : nonpayment

to default

MAIN VERB

to fail at accomplishing an obligation, particularly a financial one

synonyms : default on

antonyms : pay up

(of a computer program) to always do the same thing unless instructed differently

Examples

1. Rising interest rates were the final nail in the coffin for many overextended homeowners, pushing them into default and foreclosure.

2. Some borrowers defaulted.

3. default an option for the state of Michigan?

4. States defaulted on their loans.