Definitions for "default"
Related Terms:
Defaults, Acceleration, Default, Recourse loan, Workout , Acceleration clause, Cosigner, Mpn, Borrower, Delinquency, Promissory note, Master promissory note, Forbearance agreement, Repayment plan, Delinquent, Pre-foreclosure sale, Unsecured loan, Co-signer, Mortgage note, Co-borrower, New borrower, Non-recourse loan, Note, Deficiency judgment, Delinquent mortgage, Loan, Forbearance, Delinquent loan, Co-maker, Co-signer/co-borrower, Collection, Repayment, Repayments, Prepayment clause, Default, Pre-foreclosure, Lock-in clause, Secured loan, Repossession, Guarantor, Signature loan, Default notice, Preforeclosure sale, Unsecured loans, Installment debt, Deficiency judgement, Retire, Due diligence, Event of default, Nonrecourse loan
Failure to make required debt payments on a timely basis or to comply with other conditions of an obligation or agreement.
A failing or failure; omission of that which ought to be done; neglect to do what duty or law requires; as, this evil has happened through the governor's default.
Fault; offense; ill deed; wrong act; failure in virtue or wisdom.
A neglect of, or failure to take, some step necessary to secure the benefit of law, as a failure to appear in court at a day assigned, especially of the defendant in a suit when called to make answer; also of jurors, witnesses, etc.
To fail in duty; to offend.
To fail in fulfilling a contract, agreement, or duty.
To fail to appear in court; to let a case go by default.
To fail to perform or pay; to be guilty of neglect of; to omit; as, to default a dividend.
To call a defendant or other party whose duty it is to be present in court, and make entry of his default, if he fails to appear; to enter a default against.
Failure to pay loan payments on time or not meeting the terms of the original loan agreement.
Failure to repay a student loan according to the agreed upon terms. If you default, your school, lender or the government may take legal action to recover the money. You may also harm your future credit rating.
When one mortgage payment or a series of payments are missed, the borrower is referred to as being in default.
Failure to make timely payment of interest or principal on a debt security or to otherwise comply with the provisions of a bond indenture.
Failure of a defendant to file an answer or appeal in a court case within a certain number of days after being served with a summons or complaint.
A failure to repay a debt, or to pay interest or rent
Failure to pay principal or interest on a financial obligation. It can also refer to a breach or nonperformance of the terms of a debt instrument.
A failure to pay principal of or interest on a bond when due or a failure to comply with any other covenant, promise or duty imposed by the bond contract. The most serious event of default, sometimes referred to as a “monetary” default, occurs when the issuer fails to pay principal, interest, or both, when due. Other defaults, sometimes referred to as “technical” defaults, result when specifically defined events of default occur, such as failure to maintain covenants. Technical defaults may include failing to charge rates sufficient to meet rate covenants, failing to maintain insurance on the project or failing to fund various reserves. If the issuer defaults in the payment of principal, interest, or both, or if a technical default is not cured within a specified period of time, the bondholders or trustee may exercise legally available rights and remedies for enforcement of the bond contract. See: ACCELERATION.
Breach of a mortgage contract (not making the required payments)
MP] Failure of the borrower to honor the terms of the loan agreement.
A FAILURE TO SATISFY THE CONDITIONS OF THE MORTGAGE (E.G. MAKING MORTGAGE PAYMENTS, PAYING REALTY TAXES). DEFAULTING ON THE LOAN MAY CAUSE THE MORTGAGE LENDER TO TAKE LEGAL ACTION.
A term for breaching a contract.
Default is when the borrower does not make the agreed payments on the loan or does not meet the conditions agreed upon in the contract.
When a debtor has not made payments required by a court order or agreement, a default in payment has occurred. The debtor is said to be "in default."
Failure to make payments called for on a timely basis, or to comply with other requirements or covenants on a loan,. In the event of default, the governing instrument may give the lender the right to accelerate payments, take possession and receive rents, and startforeclosure.
The nonperformance of a duty or obligation that is part of a contract. The most common occurrence of default on the part of a buyer or lessee is nonpayment of money when due. A default is normally a breach of contract, and the non defaulting party can seek legal remedies to recover any loss. Defaults in long-term leases or contracts for deed other than nonpayment might be failure to pay real estate taxes, damage to the property and so forth.
A Student Loan is considered delinquent when your payments are behind and is considered in default when your payments behind three or more months and collection activities are required. Consolidation: Student loans are combined to make one loan. An agreement is sent indicating how much you have borrowed and the terms of repayment. If you have loans with a financial institution, these loans will not be consolidated with ones at the NSLSC.
A borrower's failure to repay according to the terms agreed upon when the promissory note was signed. Consequences of default are wide spread. Assets, including Internal Revenue Service (IRS) refunds may be seized and the borrower's credit record or history is negatively affected. Student loan borrowers cannot get out of default until they pay back their loan in full, sign new loan agreements, or reschedule their debt. If an individual is in default they are also ineligible for additional federal student aid, including grants and loans.
Failure to repay a loan according to the terms agreed to when you signed a promissory note. May result from failure to submit requests for deferment or cancellation on time. Steps will be taken to recover the money. The national credit bureaus will be notified of your default affecting your credit rating for several years, making it difficult for you to borrow money for a car or a house. Payment may be deducted from your paycheck. Your Income Tax refunds may be held and applied to the amount you owe.
Failure to fulfill contractual obligations.
Failure of a customer to perform, or be thought by the exchange unable to perform, on a contract in accordance with TradeSports' Exchange Rules, resulting in the exchange closing the defaulting customer's account.
Failure to repay a loan. International loans by governments and private agents lack mechanisms to deal with default, comparable to the legal mechanisms that exist within countries.
Generally, thirty days after the due date if payment is not received, the mortgage is in default. It is the mortgagor's responsibility to remember the due date and send the payment prior to the due date, not after. In the event of default, the mortgage may give the lender the right to accelerate payments, take possession and receive rents, and start foreclosure. Defaults may also come about by the failure to observe other conditions in the mortgage or deed of trust.
The condition in which a borrower has failed to meet the obligations of a loan or mortgage.
Failure to repay a loan in accordance with the terms of the promissory note. Default can also occur if students fail to submit requests for deferments or discharges (cancellations) in a timely manner. For Perkins Loans: Failure of a borrower to make a loan-installment payment when due or to meet other terms of a signed promissory note or written repayment agreement. For FFEL and Direct Loans: Failure to make a loan-installment payment on (a) a loan repayable in monthly installments for 180 days or (b) for FFEL, a loan payable in less frequent installments for 240 days. There can be serious legal consequences for student-loan defaulters. See COHORT DEFAULT RATE.
Failure to provide services, products or refunds.
Occurs when a defendant does not file the proper response within the time allowed or fails to appear at the trial.
Failure of a securities issuer to pay principal and interest on outstanding securities as the obligations come due.
Failure to meet obligations in a legally binding contract, such as making mortgage payments.
When the borrower consistently fails to meet the terms agreed upon in the Promissory Note. After 180 days of no payments on federal loans it is reasonable to assume that the borrower no longer plans to honor the obligation to repay.
The failure of a player or team to compete in a contest because of injury, illness and so on. It results in an automatic win for the opponent.
Failure to make student loan payments or otherwise honor its terms; reported to credit bureaus and can influence future credit.
These are registered if payments are not made in accordance with your lending agreement. Lenders have to follow Consumer Credit legislation when issuing defaults. Defaults can stay on your credit account for 6 years after the default date.
(General) Breach of a morgage contract (not making the required payments).
Failure to repay a student loan. A student is considered to be in default if they have made no payments for 270 days and is not in a grace period, deferment or forbearance. Being in default will negatively affect the student's credit rating for many years to come.
When a borrower fails to make payments on a loan in a timely manner in compliance with the conditions of a loan.
Failure to make loan payments or otherwise honor terms of a loan.
One is said to be in default when he fails to follow the credit agreement.
Failure to discharge an obligation when due. ... Add a comment
a company's failure to comply with the terms and conditions of a financing arrangement.
Omission, failure, absence of that which is required to be done.
Failure to fulfill the terms of a contract. [D04065] CSM
three missed or late payments, or delinquent support equivalent to one month's obligation.
Failure to perform an act legally required, especially failure on the part of a defendant to give notice of intention to take part in legal proceedings.
Failure to fulfill a duty or promise or to discharge an obligation, or to perform any act in an instrument in writing, that has been agreed upon.
To fail to pay money when it is due. A default on a mortgage or loan takes place when you fail to make the loan payments on time, fail to maintain adequate insurance or violate some other provision of your agreement with the mortgage / loan company.
Failure to complete payments to the lender under the original conditions of the loan.
In layman terms - not holding up your end of the deal which was made between yourself and a lender. In the event a customer defaults on the original agreement with the lender, the lender has the right to repossess the automobile.
Failure of the issuer or guarantor to pay principal or interest promptly when due
Failure to make mortgage payment or a violation of other provisions of the mortgage note.
A serious matter. Loans are in default on the first day after a missed payment, and are usually reported to consumer reporting agencies as "late" after 30 days. And delinquency is a serious matter that can have a long-term, adverse effect on a student's credit score. If a student has defaulted on an education loan, he or she should contact the servicer of the loan to establish a satisfactory repayment arrangement.
When a borrower fails to abide by the terms of a loan by not making payments for a specified period of time.
Failure to repay your loan on time, or in accordance with the terms and conditions of the Promissory Note. Most student loans go into default after six months of delinquent payments. The penalties for defaulting include loss of financial aid eligibility, reporting to credit bureaus, withholding of tax refunds, garnishing wages and the loss of monthly payment options. The entire loan balance becomes due and payable immediately.
Failure to repay or otherwise meet the terms and conditions of a loan. For most student loans, it takes nine months (270 days) of delinquent payments for a loan to go into default. The penalties for defaulting include loss of financial aid eligibility, garnishing wages, a bad credit rating, seized tax refunds, and loss of monthly payment options (the whole loan may become due and payable at once).
Failure to make mortgage payments in a timely manner or comply with the conditions of the mortgage.
A "default" in an action of law occurs when a defendant omits to plead within the time allowed or fails to appear at the trial.
Failure to perform an obligation (In the case of a note or mortgage loan, usually by nonpayment of principal and interest installments.)
Failing to make your mortgage payments at all or on time.
If a lessee does not comply with the terms of the lease, a default occurs. Generally, after a default, the lessor can exercise all of its rights under the lease to repossess the property and seek money damages.
Failure to do something (such as make a payment) on time.
Failure to repay a loan according to the terms agreed to when borrowers signed their promissory notes. Default occurs when a Direct Loan borrower becomes 270 days delinquent in making payments on their loan(s). The consequences of default can be severe.
Failure to meet financial obligation on maturity of notes or contractual agreements; failure to make loan payments at stipulated times. Defaults are recorded on the permanent credit record and can result in liability for prosecution.
A court win due to no-show. When one party fails to appear in court or send an attorney, the court only hears the claims of the other party and rules on that undisputed evidence.
The failure to fulfill a promise or pledge such as the timely (monthly) repayment of a loan.
A breach of the terms of a mortgage contract (i.e., missing, or not making monthly payments in a timely manner).
A failure to do, pay, or finish something as required by the terms of a contract.
when a team fails to comply with the rules, or decided not to complete a game for any reason, or fails to appear. The referee may declare the game a forfeit and the score will be recorded 5-0.
The failure of a borrower to make a payment of principle and/or interest when due as required by the loan agreement with the creditor.
Failure to legal obligations in a contract. In mortgage terms this generally means to fail to make the required monthly payments.
Failure of a home owner to meet mortgage loan payments for a period of two or more months. A loan default may result in a foreclosure of the property. For GNMA and FNMA securities, servicers advance principal and interest payments during the time that any underlying loans are in default. Following the foreclosure of any property, the outstanding principal balance of the loan is passed through to the GNMA and FNMA pass-through investor as a prepayment of principal. FHLMC servicers advance only the interest payments for the underlying loans that are in default in a mortgage pool and guarantee the repayment of principal within one year of the date of default.
A breach or non-performance of the terms of a note or the convenants of a mortgage.
Failure to fulfill any obligations stating in the promissory note (i.e. failure to make payments as stated in the contract).
Failure to repay a Loan when required. This can prevent a student from receiving financial aid in the future and have an adverse effect on his/her credit rating.
Failure to meet legal obligations in a contract. Common defaults in mortgages are failure to make payments, pay taxes, arrange insurance or pay out at maturity.
Inability to repay a loan
Failure to meet a contractual obligation. The provisions of virt-x and SIS x-clear determine under which circumstances a contractual obligation is deemed a default.
The failure of a borrower to make an installment payment(s) when due, or to meet other terms of the promissory note or loan repayment.
A default in an action occurs when a defendant fails to appear at the trial allowing the plaintiff to win.
Means failing to do something that a contract requires you to do. This term is used the most when someone fails to pay money on a loan or hire purchase. If you fail to pay you are in 'default'.
Failure of a party to respond to a claim (i.e., Answer) or appear at the trial.
Failure to carry out a legally binding promise.
A defendant's failure to file an answer or appear in a court case within a certain number of days after being served with a summons or complaint.
Failure to repay a loan according to promissory note terms. Defaults are recorded on your credit record and have long-term adverse consequences such as: The default may be reported to national credit bureaus and recorded on the borrower's credit record. A default can affect the borrower's credit history resulting in higher future borrowing costs, or inability to qualify for future loans. The borrower may be subject to legal action. The borrower's wages may be garnished.
An individual(s) failure to fulfill the obligations specified in an agreed upon contact between two or more parties.
The failure of a borrower to pay a debt when due. When an issuer is unable to pay the holders of its debt securities and the interest or principal is due, it is said to be in default.
The failure of a borrower to meet the financial obligations of a loan or a breach of any of the other terms or covenants of a loan.
Failure to pay loan on the maturity date.
When you fail to meet the mortgage repayment on time.
Violation of a mortgage contract.
A failure to discharge a duty. The term is most often used to describe the occurrence of an event that cuts short the rights or remedies of one of the parties to an agreement or legal dispute, for example, the failure of the mortgagor to pay a mortgage installment, or to comply with mortgage covenants.
Failure to fulfill a duty or promise. Failure to make the payments on a real estate loan.
Failure to repay a loan according to the terms you agreed upon when signing your promissory note. Action by the lending institution to collect payment may result, including notifying national credit bureaus of the default. This may affect your credit rating for a long period of time.
Mortgage that is in arrears
The failure of a borrower to make an installment payment when due, or to meet other terms of the promissory note under circumstances where the school, servicing agency, or Secretary of Education finds it reasonable to conclude that the borrower no longer intends to honor the obligation to repay.
A default occurs when one party to a contract fails to fulfill an obligation.
Failure to repay your loan. This can lead to legal action by the school, the lender, the state or the federal government to recover the money.
Any breach of the loan agreement by the borrower (usually, a failure to make payment on time).
The failure to repay an obligation as agreed.
A failure to perform an essential obligation. One of the most common defaults in a lease occurs when the lessee fails to pay rentals owed on the leased equipment.
Failure to repay a loan. By law, default occurs at day 270 of delinquency for Stafford and PLUS loans.
Failure to discharge a duty or obligation.
Failure by a defendant to appear in court when scheduled.
the condition that occurs when the duties and obligations of a contract are not performed. In Real Estate terms it usually refers to the mortgage not being paid and the owner being "in default" to the lender.
Failure to make a mortgage payment on a timely basis, or comply with other requirements of a mortgage.
Failure to comply with the terms of a loan contract. If a borrower defaults on a loan, the lender may seize the collateral, liquidate (sell) it, and apply proceeds to the loan balance.
When a debt payment has not been met by a due date.
A loan is said to be in default when the borrower fails to pay several regular installments on time (i.e. payments overdue by 180 days) or otherwise fails to meet the terms and conditions of the loan. If you default on a loan, the bank/financial institution can take legal action to recover the money.
A designation that indicates a loan borrower or credit card holder consistently fails to meet the terms agreed upon in the promissory note or credit card agreement. After 270 days of non-payment on federal student loans, it is reasonable to assume that the borrower no longer plans to honor the obligation to repay.
Failure to make your loan payments or otherwise comply with the terms of your promissory note. Defaulted student loans are reported to national credit bureaus and can influence future credit opportunities.
Failure to meet all of the commitments and obligations specified in the mortgage or deed of trust. Defaults usually give the lender the right to accelerate payments and start foreclosure.
When a federal student loan payment is 270 days delinquent or when the borrower fails to meet other terms of the promissory note.
Failure to adhere to any and all terms of a promissory note.
Default on a loan is when a borrower fails to comply with any of the terms of an agreed-upon loan, including timely repayment.
Failure of a defendant to file an answer in a court case within a certain number of days after being served with a summons and complaint results in the entry of an order by default.
Failure to repay a student loan according to the terms agreed to when you signed a promissory note. If you default on a student loan, your school, lender, state, and the Federal Government can all take action to recover the money.
A situation where the defendant has failed to appear in court at the designated time. Judgment can be entered against the defendant in situations of default, but this is up to the court's discretion.
A condition whereby the lessee does not make the payments as required by the lease contract.
Failure to meet the terms and conditions of a loan, including failure to make required payments.
Failure of the borrower and endorser, if any, to make an installment payment when due, or to meet other terms agreed to on the promissory note, provided the failure persists for 270 days.
A loan is considered to be in default only after a borrower fails to make a payment on the loan for 270 consecutive days. Schools, lenders, guaranty agencies and Federal government can all act to recover the money. Defaults on Federally backed loans are reported to national credit bureaus.
Failure to make loan payments or otherwise honor a loan's terms; reported to credit bureaus and can influence future credit and ability to receive financial aid.
When a player fails to appear on time or is removed by a tournament official for misconduct.
A failure to perform an obligation imposed by law or contract.
The loan repayment status for individuals who do not repay their loans. Severe legal and financial repercussions are involved for borrowers who go into default, such as garnishment of wages, repayment of all principal demanded within a month's time, and adverse credit ratings.
An omission of that which ought to be done. Failure to act. Also, failure of the defendant in a civil case to appear and contest the claim.
A legal notice denoting a failure to keep up repayments on a debt
The failure to complete the obligations required as described in a contract. Most commonly, to fail to meet your mortgage obligation.
When an order is entered against a party when that party fails to respond to legal papers or appear at a court or administrative hearing.
Non-payment of instalments due under the terms of a mortgage.
When a party to the lawsuit fails to attend the small claims court hearing. If the party was properly notified of the action (served), the judge may hear and decide the case without hearing the absent party's side.
Failure to fulfil an obligation.
Failure of the borrower and co-signer, if any, to make an installment payment when due or to meet other terms of the promissory note for a specified period of time.
The failure of an issuer to pay principal in a timely manner and/or interest when due.
Failure to meet the conditions set forth in a legal document (i.e., not making monthly mortgage payments).
Failure to fulfill the terms as agreed to in the mortgage of note.
Failure to meet legal financial obligations in a contract, specifically failure to make the monthly payments in a timely manner.
Failure to repay a loan according to the terms agreed to when you signed a promissary note. Default may also result from failure to submit requests for deferment or cancellation on time. The consequences of default are severe.
Failure to make mortgage payments or violations other provisions of the mortgage note.
Any failure to pay under a support order that is an amount greater than or equal to the amount of support payable under the support order for one month.
The failure of the borrower to make an installment payment when due, or failure to meet other terms of the promissory note, to the extent that a reasonable conclusion is that the borrower does not intend to pay.
Non-compliance with legal obligations of a contract, such as failure to make monthly mortgage payments.
A failure to perform in the manner as required by a contract.
The non-payment of an obligation by a company or customer for a reason other than a dispute, political risk or insolvency.
Default is a serious matter. Loans with severe delinquency in repayment are generally considered in default. Student loans reported more than 120 days past due are listed in default. If a student has defaulted on a student loan, he/she should contact the servicer of the loan to establish a satisfactory repayment arrangement.
Missed payment to an installment creditor, failure to pay the money owed on the date it is due.
Failure to fulfill a duty or promise, or to discharge an obligation; omission or failure to perform an act. In property foreclosure, usually the failure to pay loan installment payments when they become due.
Default is the nonperformance of a contractual or other kind of obligation, such as not making payments on the loan.
Failure to make mortgage payments on a timely basis or to comply with other conditions of the mortgage.
Failure to make a loan repayment by a specified date.
A default occurs when the defendant, the person being sued, does not appear at the time of the hearing and fails to answer the complaint. The judge may grant a "default judgment" which allows the judgment without the presence of the defendant.
An omission or failure to perform a legal duty.
The failure to pay an obligation or perform a duty.
Failure to fulfill the obligations of a loan, such as failing to make payments
The non-payment of a mortgage or other loan in accordance with the terms as specified in the note.
A breach or nonperformance of the terms of a note or mortgage such as failure to make timely payments.
When a borrower fails to make their mortgage payment, resulting in foreclosure on the mortgaged property.
Occurs when a debtor fails to make interest or principal payments.
Failure to repay a student loan according to the terms of the promissory note results in default. When regular monthly payments on federal student loans are overdue by 270 days or the borrower otherwise fails to meet the terms and conditions of the loan, the holder of the loan, the guarantor, and the federal government can take legal action to recover the money, including garnishing wages and withholding income tax refunds.
The failure to perform in accordance with an agreement, observe a promise, fulfill an obligation or discharge a duty.
Failure to make loan payments when they are due
The inability of a borrower to make interest or principal payments to bondholders.
Failure to make a mortgage payment within a specified period of time. For first mortgages or first trust deeds, the loan is in default if a payment has still not been made within 30 days of the due date.
When you fail to repay a loan under the terms of the loan agreement, you trigger a loan default. This allows the lender to take extra steps to recover the loan. If it is a student loan that on which you are in default, you are generally ineligible to receive federal financial aid.
Failure to comply with the terms and conditions of the promissary note.
The failure to perform an obligation as agreed in a contract.
The failure to make a scheduled payment or otherwise comply with the terms of a mortgage loan or other contract.
Failure to make required debt payments on a timely basis or to comply with the terms of an obligation.
Failure to repay your loan according to the terms agreed upon in the promissory note.
The failure to fulfill a legal obligation, such as neglecting to pay back a loan on schedule.
If an agreed payment or a series of premiums payments are missed.
The failure to repay a loan according to the terms of the promissory note. Default occurs after the loan becomes 270 days or more past due.
A "default" in an action at law occurs when a Defendant fails to appear at the trial or to plead within the time allowed. Typically, when a Defendant defaults, the court enters an order in favor of the Plaintiff.
a class of loan repayment status for individuals who do not repay their loans. Severe legal and economic repercussions are involved.
This is when you don't meet your side of the bargain - like failing to make the mortgage payments! If you default, your home could get repossessed
Omission or failure to fulfill a duty or promise, discharge an obligation, or perform an agreement such as the loan payment.
Failure to make loan payments in a timely fashion or to comply with other covenants of a loan.
A failure to perform the requirements of the franchise contract.
Once a borrower exceeds the grace period without making a payment, he or she is in violation of the contract. Typically, private lenders consider a loan in default after the second missed payment.
A failure to fulfill a contract; specifically, failure to make timely payment of interest or principal on a bond or otherwise comply with any provision of the indenture.
Non-payment of the installments due under the terms of the mortgage(s).
Failure to discharge a contractual obligation, e.g. to pay interest or principal on a debt when due.
You are officially in default when you fail to make two or more monthly mortgage payments on time. This does not automatically indicate that you will lose your home, however. Many lenders will help you work to find a solution, as foreclosure (see below) is expensive for the lender.
Failure to pay or otherwise perform obligations under a contract.
Non-payment or late payment of loan installments or failure to meet the terms and conditions of a loan. Typically, payments are considered in default after 270 days without payment. Lenders are entitled to all legal means necessary for debt recovery. This can include wage withholding (garnishing wages), withholding tax refunds, and even confiscation of collateral if any is attached to the loan. Defaulting on a government loan can eliminate future federal financial aid and will negatively affect credit rating.
Your failure to meet one or more conditions of your lease agreement. Default may result in early termination of the lease.
The failure to make monthly mortgage payments, according to the mortgage agreement.
1) In reference to the federal farm loan program, the decision on the part of a producer of commodities not to repay the government loan, but instead to surrender his crops; (2) in futures markets, the theoretical failure of a party to a futures contract to either make or take delivery of the physical commodity as required under the contract.
Failure of the defendant to appear and answer the summons and complaint.
Being delinquent in repaying a student loan more than a certain number of days or failure to comply with any of the other terms of the promissory note.
Failure to make the proper loan payments as agreed in the promissory note.
Failure to make a payment or to perform an obligation.
This has 2 meanings: 1. As a noun - This is an adverse entry on your credit (Baycorp) report, showing that you have not paid a bill or invoice when due. 2. As a verb - the action of defaulting or not making a payment when due (eg: failing to make loan payments on time)
The failure of a defendant to file an answer or appear in a civil case within the prescribed time after having been properly served with a summons and statement of claim.
A mortgage or deed of trust is said to be in default when the borrower fails to make the payments as agreed to in the original promissory note.
Failure to meet mortgage payments on a timely basis or to comply with other mortgage requirements. A mortgage is generally considered to be in default when a payment is 30 days past due.
the failure to repay a loan in accordance with the terms of the promissory note; occurs after 270 days of nonpayment on a federal loan account or 120 days of nonpayment on a private loan account
the nonperformance of a mandatory and specific legal obligation.
Failure to make mortgage payments on a timely basis or to comply with other requirements of a mortgage.
Failure to comply with a contractual obligation or another duty.
Failure to pay the principal and interest on a loan.
Failure to make interest or principal (original amount borrowed) payments on past loan when due.
Failure of the borrower to make the monthly mortgage payments, or comply with other requirements of the mortgage.
failure to pay debt service when due, or failure to comply with other covenants in the financing documents.
A term meaning the failure to appear, to defend, or to follow proper procedure in a lawsuit.
The failure to make mortgage loan payments according to the terms of the loan. Usually a loan is considered delinquent if no payment is received 30 days after the due date, and in default after 60 –to 90 days. The rights of the lender in a defaulted loan are written in the mortgage note and include the right to begin foreclosure proceedings.
Failure to make the required debt payments on time or to comply with other conditions of a loan.
Failure to perform a duty or to pay an obligation.
Failure to pay a debt or meet an obligation.
Not meeting legal obligations• Consumer Credit• Guarantees• Land - Dealings With
Failure to make mortgage payments as set forth in the mortgage or deed of trust. It is the responsibility of the buyer--the mortgager-to remember the due date and send the payment prior to the due date, not after. Generally, if the payment is not received by thirty days after the due date, the mortgage is in default. In the event of default, the mortgage may give the lender the right to accelerate payments, take possession and receive rents and start foreclosure. Defaults may also come about by failure to observe other conditions in the mortgage or deed of trust.
The failure of a borrower to comply with the terms of a note or the provisions of a mortgage.
Failure to abide by the terms of a mortgage loan agreement. A failure to make mortgage payments (defaulting on the loan) may give cause to the mortgage holder to take legal action to possess (foreclose) the mortgaged property.
Failure of a note holder to abide by the terms of the note or deed of trust.
Failure to repay a loan in compliance with the terms of the promissory note. If the records show that you are in default, you will not be able to be awarded or to receive financial aid until you resolve the default with the lender(s).
Failure to pay or perform a legal or contractual obligation.
When a customer doesn't make a required payment to a credit card account, or otherwise violates the terms of the agreement between the credit card company and the customer.
Failure to repay a student loan according to the terms of your repayment agreement.
The failure to perform the legal duty; make payment.
failure of a defendant to appear, or file an answer or r esponse in a civil case, after having been served with a summons and complaint default judgment decision made by the court when the defendant fails to respond
The failure to pay or lateness of payment of a sum due by a specific date or time. Defaults are not recorded on the public register but are registered with credit reference agencies.
Failure to repay a loan in accordance with the terms of the promissory note. This may also result from failure to submit requests for deferment or cancellation on time. If one defaults, the school, organization that holds the loan, the state, and the federal government can all take action to recover the money, including notifying national credit bureaus of your default. This may affect the student's credit rating for a long time.
Failure to repay your loan according to the terms of your promissory note. If you default, your school, the holder of your loan, and state and federal governments can all take action to recover the money. Plus, the default will be reported to national credit bureaus, which could jeopardize your ability to get credit in the future.
Failure to make support payments as agreed to in a support agreement/order.
The failure of a consumer to make payments as agreed in a loan or credit agreement.
Failure to pay a loan payment by a specific due date.
If you do not make your monthly mortgage payment, you are in default of your agreement and the lender may take action against you.
When a borrower doesnâ€(tm)t make a loan payment according to the terms defined in the loan agreement.
Failure to make payments within a specified period of time. A finding made by a lender prior to beginning foreclosure proceedings.
A status assigned to a cardholder if he or she fails to perform or conform to all the items listed in the cardholder agreement.
An account on which the payments have not been made according to the terms of the credit agreement is in default.
The act of failing to meet an agreed-upon financial obligation, such as making required payments for a loan or debt on a timely basis.
Term used to describe a company or individual's failure to honour their obligations under a contract or agreement.
Failure to repay a loan or failure to meet the terms of the loan agreement.
A breach of a contract (i.e., not making required payments on a mortgage; not following through with clauses)
A homeowner is ‘in defaultâ€(tm) when he or she breaks the terms of a mortgage agreement, usually by not making required mortgage payments or by not making payments on time.
Non-payment of your obligation as outlined in the agreement.
Failure to fulfill a duty or promise or the discharge of an obligation; omission or failure to perform any act.
Failure to meet legal obligations in a contract, specifically, failure to make the monthly payments on a mortgage.
A default means that a person has failed to do something that they should have done - such as filing appropriate court documents or appearing for court. If a default is entered the court may award any reasonable relief (enter any court orders, etc.) That the party who is not in default has requested. This could include granting a divorce or garnishing wages, even changing custody.
Failing to answer a petition or complaint for divorce. Failing to file an answer or appear in court as required can result in the court awarding everything requested by the filing spouse.
failure to pay your loan according to the terms disclosed on your promissory note. You are in default on a FFEL program loan if your payments are more than 270 days past due or if you fail to comply with other terms of the loan.
Failure or neglect to fulfill an obligation or requirement. A borrower defaults on a loan if he fails to make payment, or otherwise fails to perform according to the terms of the note.
A failure of a party to respond in a timely manner to a pleading; a failure to appear for trial.
Failure to keep up with regular or adequate repayments on a mortgage or other loan.
Failure to make payments on a debt.
Failure to perform under the terms of a contract for any reason specified in the contract.
failure to do something or do it on time.
A card issuer may consider a cardholder in default if the cardholder fails to perform all of the duties and obligations set forth in the cardholder agreement.
Failure to pay mortgage payments over a specified period of time.
Failure by a party to a contract to comply with contractual requirements.
Failure to repay a student loan according to the terms agreed to when you signed a promissory note. If you default, your school, the organization that holds your loan, the state, and the federal government can all take action to recover the money, including notifying national credit bureaus of your default. Your wages and/or tax returns may be garnished, and you will no longer be eligible to receive federal financial aid.
This is a term used when a person fails to meet their financial obligations, such as missing mortgage or loan repayments.
Failure to repay a student loan according to the terms of a promissory note signed by the student. The organization that holds the loan (the state or the federal government) can take action to recover the money, including notifying national credit bureaus of the default. Wages and/or tax returns of the defaulter may be garnished, and the borrower will no longer be eligible to receive federal financial aid until the defaulted loan is repaid or the borrower has made six consecutive monthly payments.
Failure to repay your student loan. You are considered in default if you have made no payments for 180 days and are not in your grace period, deferment or forbearance. This will negatively affect your credit rating for many years.
Failure to perform a legal obligation; a default includes failure to pay on a financial obligation, but may also be a failure to perform some action or service that is nonmonetary.
Failure to abide by the terms of the mortgage may result in legal action such as foreclosure.
Failure to carry out a duty or obligation.
When a borrower fails to make payments on a loan, or has failed to comply with other terms of the loan agreement.
Failure to make mortgage payments on time and as agreed to in the terms of the loan. Default leads to foreclosure.
Failure to make the mortgage payment within a specified period of time. For first mortgages or first trust deeds, if a payment has still not been made within 30 days of the due date, the loan is considered to be in default.
Failure of a consumer to make loan or credit repayments as agreed in a loan or credit agreement. A loan or credit default may be identified by a high MOP rating. See manner of payment.
To fail in some duty.
The omission or failure to perform or fulfill a legal duty, obligation, or promise (i.e. to pay a debt).
Submenu Failure to repay a loan according to the terms agreed to when you signed a promissory note. If you default on a loan, the University, the holder of the loan, the state, and the federal government can take legal action to recover the money, including garnishing your wages and withholding income tax refunds. Defaulting on a government loan will make you ineligible for future federal financial aid, unless a satisfactory repayment schedule is arranged, and can affect your credit rating.
Failure to make mortgage payments as agreed to in a commitment based on the terms and at the designated time set forth in the mortgage or deed of trust.In the event of default, the Mortgage may give the lender the right to accelerate payments, take possession and receive rents, and start foreclosure. Defaults may also come about by the failure to observe other conditions in the mortgage or deed of trust.
The failure to make loan payments on time, in the amount specified, or as required in the terms of the obligation or note.
To default is to fail to meet an obligation or duty. Failure to make mortgage payments is the act of defaulting on a home in which the owner has a mortgage.
The registration of a default notice on credit registers, normally by lenders, following non-payment of loan repayments.
Failure to make payments on a mortgage in accordance with the payment schedule required.
The general failure to perform a legal or contractual duty or to discharge an obligation when due. Some specific examples are: 1) Failure to make a payment of rent when due. 2) The breach or failure to perform any of the terms of a lease agreement.
Failure to meet financial obligations on loan notes or other contractual agreements; failure to make loan payments as required. Defaults may also occur when a borrower fails to submit deferment requests on time.
A loan is in default when the borrower fails to pay several regular installments on time (i.e., payments overdue by 180 days) or otherwise fails to meet the terms and conditions of the loan. If a student should default on a loan, the university, the holder of the loan, the state government and the federal government will take legal action to recover the money, including garnishing wages and withholding income tax refunds. Defaulting on a government loan will make the student ineligible for future federal financial aid, unless a satisfactory repayment schedule is arranged.
Failure to pay principal or interest promptly when due. If caused by a minor omission which is remedied quickly, it is known as a technical default.
Failure to respond in the prescribed manner within a given period of time. The Respondent in a Petition for Dissolution is said to be in default if he or she failed to respond within a set period of time, usually 30 days after the date of service.
A breach of a contract condition.
Failure to meet a margin call or to make or take delivery. The failure to perform on a futures contract as required by exchange rules.
Failure to repay a loan on a timely basis or otherwise meet the terms of a commitment or agreement.
Failure to fulfill an agreed-upon financial obligation, such as making a loan payment.
Omission or failure to fulfill a duty or promise, discharge an obligation or perform an agreement. Back to the Top
Failure to fulfill a duty or promise or failure to perform any obligation or required act. The most common occurrence of default on the part of a buyer or lessee is non-payment of money.
Youâ€(tm)re in default when you fail to meet the terms of a credit agreement.
When a borrower fails to meet his or her responsibilities in loan repayment. This will be on your credit report for up to seven years. To avoid default, you must stay in contact with your lender(s) and maintain special arrangements when regular payment cannot be made.
The failure of a party to perform a contractual requirement or obligation, including failures to meet deadlines, to perform to a specified standard, to meet a loan repayment or to meet its obligations in relation to a materialised risk
An act or omission that will result in a claim for duties, taxes, charges or liquidated damages under the FTZ Operator's Bond
Notice - A notice which is served where one party to an agreement (contract) is in alleged breach. The notice states the nature of the breach and required remedies prior to legal proceedings for breach of contract.
Failure to abide by the terms of a mortgage or loan agreement. A failure to make loan payments (defaulting on the loan) may result in the mortgage holder taking legal action to repossess the mortgaged property.
Failure to fulfill an obligation, duty or promise. The most common default is probably failure of a borrower or lessee to pay money when due.
The failure to appear (as in court) or to perform (as on a bond).
Failure to complete the acts or promises made such as default on a mortgage when the payment is not made on time.
Failure to respond to a lawsuit.
The failure to fulfill a contract or an agreement.
Failure by a debtor to meet the terms of a loan either by not paying interest due or not repaying the capital due.
Failure to abide by the terms of a mortgage loan agreement. May result in the lender taking legal action to possess or foreclose the mortgaged property.
Failure. In mortgages, the failure to make payments in full, on time or at all or to live up to any other obligations placed on the borrower by the loan agreement.
Usually occurs when a borrower is 180-270 days late in making a payment and is also reported to all credit bureaus (such a report remains on the borrower's credit report for up to seven years).
Failure to make mortgage payments regularly or to comply with other requirements of the mortgage.
This is a when someone misses some payments on a credit arrangement. The creditor will issue a default notice and that usually appears on the debtors credit file.
Failure to meet a financial obligation. Depreciation: The value an asset loses due to wear and tear or time.
Judgment- Judgment against respondent when they fail to appear or defend against a claim.
When a borrower fails to pay off a debt by the arrangements set up by the creditors.
The failure of a borrower to make regular payments when due, or to meet other terms of the promissory note.
Missing a certain number of payments on your loan, either by not making payments as scheduled, or not making arrangements to postpone the payments. When a borrower defaults, the loan costs them more in the long run and has a negative effect on their credit report.
Failure to repay a loan in compliance with the terms of the promissory note. If the records show that you are in default status, your financial aid will be held until you resolve it with the lender(s).
After a lender has exercised due diligence when trying to collect payment for a loan or credit card, the unpaid account is said to be in default.
An act or omission that constitutes the failure to meet a promise, discharge an obligation, or perform under an agreement with other parties.
A term that denotes the failure to pay the principal or interest on a financial obligation (such as a bond).
When a borrower fails to meet the repayment terms of a mortgage or other loan. In this case, a borrower receives a "notice of default" from the lender.
Failure to meet the agreed upon terms of the mortgage. This can include delinquent mortgage payments, failure to maintain insurance, failure to pay real estate taxes, poor maintenance or any other requirements listed in the mortgage document.
Failure to repay a loan according to the terms agreed to when you signed a promissory note. Default also may result from failure to submit requests for deferment or cancellation on time. If you default, your school, the lender or agency that holds your loan, the state, and the federal government may all take action to recover the money, including notifying national credit bureaus of your default. This may affect your credit rating for a long time. For example, you may find it very difficult to borrow from a bank to buy a car or a house. In addition, the lender or agency holding your loan may ask your employer to deduct payments from your paycheck. Also, you may be liable for expenses incurred in collecting the loan. If you decide to return to school, you're not entitled to receive any more federal student aid or any of the deferments listed in the Loan Deferment Summary. The U.S. Department of Education may ask the U.S. Internal Revenue Service to withhold your income tax refund, and the amount of your refund will be applied toward the amount you owe.
Failure to meet the legal obligations in a loan contract by not providing monthly mortgage payments.
Failing to make payments on your student loan.
Failure to act as one should.
Failure to make the required payments on a loan. Often results in foreclosure.
Failure to comply with the terms of any agreement. In real estate, generally used in connection with a mortgage obligation to refer to the failure to comply with the terms of the Promissory Note. Most often this default is a failure to make payments, however, there are other means by which a borrower may default, such as the failure to pay real estate taxes.
Failure to make the mortgage payment or to comply with other mortgage requirements.
Failure to meet legal obligations in a contract. A default under the terms of a note (contract) would occur as a result of non-payment.
Failure to live up the contractual obligation of a mortgage to make timely payments. Over 90 days delinquent may result in foreclosure on subject property.
Failure to make a payment, of either principal or interest, when due.
You will be placed in default status if you do not repay your student loans (i.e., skip your loan payments). There are several legal and economic ramifications of being in default.
Failure to fulfill legal obligations of a contract, including failure to make payments on a loan.
If someone defaults, they fail to do something which they had agreed to do.
when a borrower fails to repay a loan according to the terms agreed upon with the lender.
A condition whereby the lessee does not uphold the terms of the agreement. Typically it is a result of non-payment.
The failure by a borrower to meet a financial obligation.
Failure of a debtor to make timely payments of prinipal and interest as they come due or to meet other provisions of a bond indenture.
Failure to meet all of the terms of a financial obligation, for example, failing to make loan payments.
Failure to repay a student loan according to the agreed-upon terms of a promissory note. Default occurs at 180 days when the delinquency date is prior to 10/7/98, and 270 days when the delinquency date is on or after 10/7/98. The school, lender, and state and federal governments may take legal action against the borrower to recover defaulted loan funds.
The respondent fails to respond to court papers by filing an appearance. Also, the court may find a default against any party failing to attend a hearing or to obey court rules.
breach of nonperformance of the terms of a note or covenants of a mortgage, or failure to do what is required by law or a loan contract
Failure to make loan payment on time, as agreed to in the note. If a payment is 30 days late, the loan is in default, and it may give the lender the right to start foreclosure proceedings.
Failure to meet debt payment on a due date.
A failure to meet a financial obligation.
This is the failure of a borrower to meet the conditions of a mortgage agreement (usually the inability to meet the minimum loan repayments). If the borrower defaults on their loan, the lender may take possession of the property and sell it to cover the outstanding loan amount.
Failure of the borrower to make the payments due on a loan.
In insurance, the policyowner's failure to make a premium payment by a policy's final due date or by the end of its grace period.
You may be placed in default status if you fail to repay your loan. A default status affects your credit rating and your ability to obtain future loans and grants.
Failure to pay back the loan as promised. Loans are filed with guaranty agencies or the federal government for collection if past-due payments continue. The loan balance is due in full at the time of default.
A default is a missed or late payment.
Each promissory note and mortgage (or deed of trust) will contain provisions outlining the conditions under which the note is in default, at which time the lender has the right to start foreclosure. The most common of these, of course, is the failure to make payments on time. Other events of default are failure to pay property taxes, failure to keep adequate insurance in force, or allowing the property to deteriorate.
Failure to repay a loan according to the terms of the promissory note. This failure must persist for 270 days.
Failure to pay a debt as outlined in the original agreement.
Failure or omission to perform a legal duty, i.e.,non-payment of a legal obligation.
The failure of a borrower to make monthly installment payments when due for a period of 270 days. The borrower can avoid default by making special arrangements with the lender to suspend payment (see deferments and forbearances). Click here for more information on the consequences of default. Back to glossary main page
Failing to make a mortgage payment when due or not fulfilling other terms and conditions of the mortgage.
The general failure to perform a legal or contractual duty under a commercial lease, such as not paying rent when due, or the breach of other nonmonetary lease covenants. Search | Home
Failure to meet the terms and conditions of your loanâ€(tm)s promissory note. A default becomes part of your permanent credit record.
A failure to act as required by the contract that triggers the right to sue or excuses the other party's obligation to perform under the contract, such as a writer's failure to deliver manuscript on time or a client's failure to pay.
a party's failure to answer a complaint, motion, or petition.
Failure to repay a student loan according to the terms agreed upon when the promissory note is signed.
Status yielded when a borrower or renter neglects to meet his | her duties as outlined within the lease or mortgage documents. Most common contributors include: failure to make regular, consistent payments and misrepresentation of one's financial worth | background.
Failure to fulfill a legal or contractual obligation.
is the act performed by either the buyer or seller that breaches the contract of sale and permits a claim for damages.
Failure of the defendant to file an answer or appear in a civil case within the allowed period of time. The plaintiff may then ask for a judgment against the defendant granting everything requested in the complaint.
Failure by a member to make payments on time as agreed to in the terms of the loan. Default on a mortgage or home equity could lead to foreclosure.
Failure to make monthly mortgage payments as agreed, or to meet certain other terms of a mortgage agreement.
Failure to pay interest or principal on a debt or other obligation when due, or the violation of a covenant made in connection with the incurrence of debt as well as any other act or omission specified as a default.
The failure to make on-time payments in the amount specified in the terms of the obligation or note. Once a borrower is behind on their payments for a certain amount of time, they are then considered in default.
failure to make mortgage payments when mortgage payments are due.
The failure of a debtor to comply with a provision of a bond indenture or loan agreement (commonly known as a technical default) or to make timely payment of interest or principal when due.
The omission or failure to perform or fulfill a le... more
failure of a debtor to make timely payments of interest and principal as they come due or to meet some other provision of a bond indenture.
Failure of either party to file required documents or appear in a civil case within a certain period of time.
The inability to pay monthly mortgage payments or to otherwise meet the mortgage terms. If the default is not corrected the lender will foreclose on the mortgage loan.
A failure to perform on one or more of the terms of a note or of the covenants of a mortgage, deed of trust or real estate contract.
Failure to make a loan payment on time. This can lead to a lender foreclosing on, and taking possession of, a property.
The failure to meet the conditions of repayment of a student loan. Students may be ineligible to receive federal financial aid when in default.
Failure to meet the terms of your credit agreement by not repaying your loan.
Failure to fulfill a duty or promise as specified in the Promissory Note and/or Deed of Trust.
When you fail to pay the loan according to the promissary note.
Failure to make your monthly payments.
Failure to perform a duty or meet a contractual obligation.
Borrowers who do not make monthly payments as scheduled, and who do not make special arrangements with the lender to suspend payment (see deferments and forbearances), will default after 270 days of delinquency.
A failure to complete a required act, usually the failure to make payment(s) called for by a note or mortgage.
Failure to honor an agreement.
Failure to repay an outstanding debt as agreed.
Failure of a debtor to make loan repayments as agreed to in a loan contract.
Failure to pay back money. If a person does not make agreed-upon payments, that person defaults on the loan.
Failure to repay a loan in accordance with the terms of the promissory note. Default occurs in federal student loans after 270 days of non-payment.
A breach of a mortgage contract (such as not making monthly payments).
a status caused by the failure to make loan monthly payments on time. Default occurs after missing 2 or more payments and may lead to foreclosure.
Failure to repay a student loan according to the agreed-upon terms of a promissory note. Default occurs at 270 days if the delinquency date is on or after Oct. 7, 1998 or at 180 days if the delinquency date is before Oct. 7, 1998. The school, lender, and state and federal governments may take legal action against the borrower to recover defaulted loan funds.
Failure to meet an obligation when due or to perform any provision of a lease, mortgage or other agreement.
This is when a person who has an existing motorcycle loan, cannot make the monthly repayments or fails to comply with terms of the loan.
Failure of a debtor to make principal and/or interest payments. See: Bankruptcy.
The inability to meet obligations under an investment agreement.
Failure to meet certain contractual obligations, such as mortgage payments. Default can lead to foreclosure.
A failure to pay the installments due under the terms of the mortgage or other loans..
Failure to make mortgage payments as agreed to in the terms as set forth in the mortgage or deed of trust. Generally, thirty days after the due date if payment is not received, the mortgage is in default. In the event of default, the mortgage contract may give the lender the right to accelerate payments, take possession, and start foreclosure. Failure to observe other conditions in the mortgage or deed of trust may also result in default.
Failure to repay a loan or otherwise meet the terms of your credit agreement.
failure to meet a lease obligation.
the omission or failure to perform a legal or contractual duty; especially, the failure to pay a debt when due.
When a party fails to answer or appear in the proscribed time period.
non-payment of an account according to the terms of the cardholder agreement. If you are declared in default, your account may be subject to higher interest rate charges.
Failure to make payments within a specified period of time governed by the original contract.
Failure to meet any obligation or term of a credit agreement, grant, or contract. Often used to refer accounts more than 90 days delinquent.
The failure of a borrower either to make installment payments when due or to comply with other terms of the promissory note.
A customer who is in violation of the hire terms of their agreement, including but not limited to arrears.
The failure to fulfill a duty or promise or discharge an obligation, such as making monthly mortgage payments.
Default occurs on non-performance of obligations for example, non-payment of monies on due dates which are part of investment agreement. It is also called breach of contract.
Failure to meet the loan repayments by the due date
When an obligated party cannot or will not pay their debts.
Failure of a consumer to make loan or credit repayments as agreed in a loan or credit agreement. Defaults are a serious negative item on a credit report.
A loan for which the borrower failed to make an installment payment when due and such failure persisted (not cured either by payment or other appropriate arrangements). The Department of Education considers a loan discharged in bankruptcy not to be in default.
Condition of a child support account in which the obligor has failed to make full monthly payments in a timely fashion.
The failure to fulfill a duty, observe a promise, discharge an obligation, or perform an agreement.
Non-payment by the borrower of installments due under the loan agreement as they become due, or failure to fulfill any other term or condition of the agreement.
The failure to perform on a futures contract as required by exchange rules, such as failure to meet a margin call or to make or take delivery.
failure to make several regular loan payments on time, or failure to meet the terms and conditions of the loan.
The failure to meet an obligation, including lease clauses (i.e. timely rent payment, tenant use of premises, etc) and mortgages (i.e. timely mortgage payments, timely payoff upon due date).
failure to do what was legally or morally required, often referring to the failure to pay a debt that has fallen due. Since anything is better for a lender than not being paid at all, banks, which have advanced loans to organisations, or even countries, facing liquidity difficulties may avert default by reorganising the loans over a longer term.
Failure to meet a debt payment or other requirement of a contract by a due date.
the borrower is not paying the monthly mortgage installments or not meeting other requirements of the loan
Failure to make payments on a timely basis or to comply with other conditions of a loan. Back to the top
The failure of the borrower to make an installment payment when due, or to meet other terms of the Credit Agreement, to such an extent that it is reasonable to conclude that the borrower does not intend to pay.
Failing to make loan payments when they are due as stated in the promissory note. A loan is in default after 270 days of non-payment.
The failure to make payments on a loan.
The failure of a cardholder to perform all of the duties and obligations set forth in the cardholder agreement. Some card issuers may consider you in default -- enabling them to penalize you via a higher interest rate -- if you miss a payment with any creditor.
If payments on a credit agreement are missed, a Default Notice is issued. This gives an opportunity to contact the Lender to offer an explanation and remedy the situation. Failure to do so could result in a Count Court Summons and Judgement (see above). A Default severely affects credit history.
when a company or individual is unable to meet debt payments.
Default is defined as the failure of a borrower to make a loan payment when due or to comply with other terms of the promissory note or written repayment agreement. Default may also result from failure to submit deferment and/or cancellation requests on time.
The failure to make mortgage payments on a timely basis or to fulfill other mortgage requirements.
A loan is in default when the borrower fails to pay a regular installment on time or otherwise fails to meet the terms and conditions of the loan. If you default on a loan, the university, the holder of the loan, and the government can take legal action to recover the money, including garnishing your wages. Defaulting on a government loan will make you ineligible for future federal financial aid. This ineligibility for financial aid remains in effect until such time as the defaulted loan is paid in full or until you have made at least 6 consecutive on-time reasonable monthly payments as determined by the holder of the loan.
A failure of a party to respond to a pleading of another party. This failure to respond my allow the Court to decide the case without input from the party who did not appear or respond.
An issuer’s failure to pay accreted interest when a zero coupon issue matures. Treasury securities are considered default-free.
Failure to repay a student loan according to the terms agreed to when you signed a promissory note. Default may affect your future credit rating, and you may not be able to receive additional Federal aid if you decide to return to school.
Failure to pay interest or principal of a promissory note at the due date
The failure to repay a loan in accordance with the terms of the promissory note. Default occurs after 270 days of non payment on an account.
A breach of a mortgage contract (i.e., not making the required payment).
Default occurs when you fail to meet the terms of your credit agreement.
Failure to make mortgage payments in a timely manner or to comply with other requirements outlined in the note.
If a borrower goes into payment arrears, they have defaulted on their credit or loan agreement. It is known as an account in 'default' if the lender has issued a 'notice of default' to the borrower. This is usually the stage before a county court judgement is applied for, and often seen as a 'final demand' for payment.
A failure to pay money due.
Breach of a conract. Failure to do or not to do something that you have agreed either to do or not to do.
Failure to meet financial obligations at the maturity of contractual agreements or failure to make loan payments at stipulated times. Defaults are recorded on the borrower's permanent credit record and can result in litigation.
Failure to pay an outstanding debt.
To fail to comply with an order of the court eg fine, good behaviour bond.
If you default on a loan or other financial agreement, you've missed a payment.
Default occurs when mortgage payments aren't made on a timely basis, or other conditions in the mortgage aren't met.
failure to make mortgage payments on a timely basis or to comply with other escrow account after the offer is accepted).
The issuer's failure to pay principal or interest when due. Default may occur as a result of bankruptcy or failure to meet non-payment obligations, such as reporting requirements.
In civil cases, the failure of the defendant to file an answer or appear within a certain amount of time. This will usually result in a default judgment against the defendant.
A status your loan enters when you fail to make your payments according to the terms of your promissory note.
Failure to make payments on a loan with a specified period of time.
Failure to perform a specific, required legal duty.
A judgment ending the case in favor of either side, based on that side's failure to respond on time or to show up at the trial, or based on misbehavior during the lawsuit. See Fed. R. Civ. P. 55 and 37(b)(2)(C).
Failure by a party to fulfil its obligations on a future or options contract when they fall due, e.g. failure to meet a margin call, or to make or take delivery.
(1). A breach of a contract that justifies an exercise of the remedies provided in the contract. (2). (Leasing based) The situation arising when a lessee does not comply with the terms of the lease. Typically, upon default, a lessor can exercise all of its rights under the lease to repossess the leased property or other form of security, and seek monetary damages.
Status that is most often caused by failure to make monthly mortgage payments on time. You are officially in default when you have missed two or more monthly payments. Default also refers to other violations of mortgage terms such as trying to pass your loan on to another buyer when the property is sold, which triggers the loan's due-on-sale clause. Default can lead to foreclosure on your house.
Failure to meet legal obligations in a contract - such as the failure to make the monthly mortgage payment.
Failure to file papers with the court (or some other act) which permits the other party to win without a trial.
Occurs when a borrower fails to repay a debt obligation in accordance with its terms.
Regular arrears in the payment of monthly instalments or trading liabilities by a debtor.
Defaulting on a loan is when the borrower fails to make an installment payment or meet the terms and conditions of the loan, provided the failure persists for 180 days.
Failure to carry out the terms of a contract.
A failure to make a loan or debt payment when due. Usually an account is considered to be "in default" after being delinquent for several consecutive 30-day billing cycles.
When one or more mortgage payments go unmade.
inability to meet debt payments
Failure to make timely payment of interest or principal on a loan, or to otherwise comply with the terms of a loan.
The failure of the Lessee to pay payments (or other sums due) or meet obligations when due under the lease or failure to observe a representation or warranty in the lease or violation of a covenant in the lease, and the expiration of applicable periods to cure the default. An event of non-appropriation or abatement is not normally considered an event of default, even when the remedies are substantially similar for each event.
Failure to meet legal obligations in a contract, including failure to make payments on a loan.
A borrower's failure to make timely payments of interest and principal when due or to meet other requirements related to the bonds, such as maintenance of collateral or financial covenants.
Failure to repay a loan according to the terms of the promissory note. A loan is in default when the borrower fails to pay several regular installments on time (i.e., payments overdue by 270 days) or otherwise fails to meet the terms and conditions of the loan. Note: if you are in default, you may want to check out the Department of Education's Default web page.
A breach or non-performance of the terms of a note or the covenants under a mortgage.
Failure to repay or otherwise meet the terms and conditions of a loan. Default typically occurs after six months of delinquent payments. Penalties include a bad credit rating, loss of future financial aid eligibility, withholding of tax refunds, garnishing wages and loss of monthly payment options.
Defaults are the arrears in payment of debts. These too can result into bad credit history.
This is the term used for violation of the security investment.
In the event the Buyer fails to pay the entire purchase price within the time set forth by GL and/or fails to comply with any of the Terms and Conditions of the sale, GL will retain the deposit (25%) as liquidated damages.
The failure of a corporation to pay principal and/or interest on outstanding bonds. See also: Credit Risk.
Failure to repay a loan according to conditions agreed on at the time of application. Default may also result when a borrower fails to submit a request for deferment on time. Default status goes into your permanent credit record. Students are not eligible for financial aid while in default.
failure to complete a funds or securities transfer according to its terms for reasons that are not technical or temporary, usually as a result of bankruptcy. Default is usually distinguished from a “failed transaction” .
To fail to make mortgage payments on a timely basis or to comply with other mortgage conditions.
This is when you do not make your mortgage payments. If you default on your mortgage, ultimately your home will get repossessed by your lender and sold.
Failure to repay a loan according to the terms of the signed promissory note for the loan.
Failure to meet a financial obligation, such as a loan.
An order or judgment granted by a court without hearing the other side because that side failed to submit papers within the time allowed or failed to appear at a hearing.
to lose by omission to perform a legal obligation
Breach or non-performance of a clause in a note or mortgage which, if not cured, could lead to foreclosure.
A failure to something which is required by law.
when you can not pay off a loan you have taken out or fail to make sufficient payments so that the loan goes into default.
Failure to pay a debt when due, or otherwise failing to comply with an essential term of a loan payment.
occurs when a defendant fails to appear or plead within the time allowed after a petition has been filed in a civil case
The failure of a debtor to make timely payments of principal and/or interest. If the debtor defaults, the bondholders may make claims against the issuer's assets to get back their principal.
Failure to repay a loan according to the terms agreed to at the time of application. Default may also result from failure to submit requests for deferment on time. Default status is recorded on your permanent credit record. Students in default are not eligible for financial aid.
Failure of a purchaser to pay for electricity purchased in cleared funds by 16:00 hours on the 20th day of the calendar month following the billing period. In the event of a default the money that is unpaid is pro-rated among generators.
Failure to repay a loan according to the agreed terms, for six months. If you default on a loan, the federal government can take action to obtain the funds by garnishing your wages, litigation, credit bureau notification and withholding of income tax refunds. In addition, defaulting on a loan will affect your ability to receive Title IV student aid in the future.
Failure to make payments on a timely basis or to comply with other conditions of a loan. Defaults are reported to national reporting agencies, which may affect future creditworthiness.
Failure to make scheduled payments on federal student loans. It is better to work with lenders to develop a feasible repayment schedule or an authorized suspension of payments than to default on these loans.
Failure of an individual or company to make payments on a mortgage on the due dates, or to meet other terms of the mortgage contract.
Failure to meet any financial obligation. Default triggers a CREDITOR'S rights and remedies identified in the agreement and under the law.
Failure of an individual to make payments on a mortgage at the correct time or to not comply with the mortgage companies requirements.
failure to make the regularly-scheduled payments on a mortgage which can lead to a foreclosure; also, a failure to meet the legal obligations of a contract; see also delinquency.
When a borrower fails to fulfill the obligations of a loan or lease.
Failure to meet the repayment or other terms of your loan.
Failure to meet the legal obligations of a contract. In the case of home buying, failure to make the monthly payments on a mortgage.
breach of or failure to meet obligations in a mortgage contract, usually failure to make repayment as agreed in the contract (page 107).
A customer who is in violation of any term or condition of the Agreement, including, but not limited to, arrears.
Failure to follow the terms of a loan agreement, usually by not making payments on time.
Failure of the Defendant/Respondent to file an answer, appear, or response after having been served with a Summons and Complaint or Order to Show Cause.
The failure of a corporation to pay principal and/or interest on outstanding bonds or dividends on its preferred stock.
Each note will contain provisions outlining the conditions under which the note is in default, at which time the lender has the right to start foreclosure. The most common of these, of course, is the failure to make payments on time. Generally, thirty days after the due date if payment is not received, the mortgage is in default. Other events of defaults are the failure to pay property taxes, failure to keep adequate insurance in force, or to allow the property to deteriorate, like knocking the house down before building a new, larger, structure.
The failure or refusal of a player to take part in or complete a match, resulting in a victory for the opponent. Also used as a verb, as in "Smith was forced to default because of a knee injury."
Failure to fulfill a promise, discharge an obligation, or perform certain acts.
Failure to do what is required by law or by the terms of a contract.
The failure to repay a loan on schedule or to make timely payment of interest. If the borrower defaults, his bank will initiate certain legal actions to recover its money or seize the security pledged as collateral for the loan. Français: Défaut Español: Incumplimiento
A student loan is considered in default when the borrower has failed to make payments within a time frame prescribed in law or regulation or when the borrower has failed to comply with other terms of the promissory note or written payment agreement. Close
A borrower's failure to repay according to the terms agreed upon when the promissory note was signed. Default can also occur when a borrower fails to submit requests for deferment or cancellation, and is generally referred to as a "technical default". When a borrower defaults on a federal student loan, the school, the organization holding the loans, the guarantee agency, and the federal government can all take action to recover the funds. A borrower is considered to be in default when payments are 180 or more days overdue and no satisfactory arrangements for deferment or forbearance have been made. Assets, including Internal Revenue Service (IRS) refunds may be seized, and the borrower's credit record or history is negatively affected. Student loan borrowers cannot get out of default until they pay back their loan in full, sign new loan agreements, or reschedule their debt. They are also ineligible for additional federal student aid, including grants and loans.
For Perkins Loan: Failure of a borrower to make a loan-installment payment when due or to meet other terms of the signed promissory note or written repayment agreement. For FFEL and Direct Loans: Failure to make a loan-installment payment for 270 days on a loan repayable in monthly installments or 330 days on a loan repayable in less frequent installments. There can be serious legal consequences for student-loan defaulters. For more information, see Loan Default.
Where a defendant fails to appear and answer the summons and complaint.
a party's failure to timely answer and/or appear. In Housing Court a default against a tenant can result in eviction.
The failure of a buyer to pay the monthly mortgage payment which includes the loan principal, interest, and possibly additional charges for taxes and insurance.
Failure by a party to contract or comply with contractual requirements; vendor failure.
Failure to make payments on a timely basis or to comply with the terms disclosed on the promissory note. The borrower will be in default on a FFELP Loan if their payments are more than 270 days past due or if they fail to comply with other terms of the loan. Legal action may be taken to collect on a defaulted loan.
a "default" occurs when a party fails to plead or otherwise defend within the time allowed, or fails to appear at a court appearance
Failure of the borrower to repay a student loan according to the conditions and terms of the loan. Penalties for a defaulted student loan include: - loss of future eligibility for federal/state student assistance. - negative comments to national credit bureaus. - liability for prosecution or initiation of court action. - assignment to collection agencies. - withholding of state/federal tax refunds. - loss of deferment and monthly payment options (the full amount could immediately be due and payable).
Failure to perform on a futures or short options contract as required by exchange rules.
the failure by an entity to abide by the covenants in a debt obligation or other agreement to which it is a party. The most common default is non-payment of interest or principal.
is the term used when one side of an agreement hasn't kept to their part of the bargain – usually this means you haven't made a payment on the right day
When a payment or a series of payments are missed.
A term used when someone fails to meet the re-payment terms of an agreement.
to fail to repay a loan at the scheduled time, or to fail to respect a contract.
The state assigned to an account holder who has failed to meet obligations or conditions of that account. · See Also · Bankruptcy
Generally speaking a breach of contract.
A breech of the agreement with a lender such as the failure to make loan payments in a timely manner.
Generally a breach of contract. Failure to make timely payment of principal or interest.
Failure to perform on a contract as required by exchange rules, such as the failure to meet settlement variation, a performance bond call, or to make or take delivery.
Term used to indicate a failure in meeting contract obligations. Most commonly used to describe a situation where a borrower was/is thirty days late on a mortgage payment.
A corporation or government is in default if it fails to meet the interest payments on debt securities it has issued or does not repay the principal at maturity. When the issuer defaults, the bondholders may try to recover what they're owed by making claims against the issuer's assets. There's an elaborate hierarchy for determining the order in which the claimants are paid. Similarly, if you fail to pay principal and interest that you owe on a loan, you are in default. The lender may attempt to recover the loss by claiming any property of yours that was offered as collateral, or security for the loan, or by taking other legal measures.
Failure to make timely payment of interest or principal on a debt security or to otherwise comply with provisions of the loan or debt agreement.
When you fail to meet the terms or requirements of a signed contract there is a default. For example, not making your scheduled repayments on a loan or not making them on time.
The failure to complete a funds or securities transfer according to the terms of the agreement for non-technical or temporary reasons (as would be the case for a failed transaction), usually as a result of bankruptcy. Inability to honour the payment of interest and/or repayment of principal of a loan or a security when it becomes due. Inability to honour contractual obligations, especially obligations under financial transactions.
Failure to make scheduled monthly payments according to the agreed-upon terms.
the inability to pay monthly mortgage payments in a timely manner or to otherwise meet the mortgage terms.
The non-performance of a stated obligation.
When mortgage payment is not made, usually after 30 days post due date.
A material failure to perform the requirements of a contract.
Failure by a debtor to meet a payment requested from a creditor. Payments towards credit that are missed three or more times can be registered on a persons credit history as a default.
A breach or nonperformance of the terms of a note or the covenants of a mortgage.
The failure to repay a loan according to the terms of the promissory note. Defaulting on a student loan makes you ineligible to receive financial aid in future until the default has been cleared.
The nonperformance of a duty, whether arising under a contract or otherwise; failure to meet an obligation when due.
The failure of a contractual obligation to be carried out.
Failure to meet a debt or repayment of a debt on a due date.
A default is where for some reason the monthly payment from a client's bank account. A Bank can refuse a payment for any of these 'default' reasons: Refer to Payer Account Closed Mandate Cancelled No Account No Mandate Account Transferred Instruction Cancelled Payer Deceased
1. The failure to pay interest or principal promptly when due. 2. The failure to perform on a futures contract as required by an exchange.
Non-performance of a duty arising under a contract or otherwise
Failure to make timely payment of interest or principal on a debt security or to adhere to other provisions of a bond indenture.
To default is to fail to repay the principal or make timely payments on a bond or other debt investment security issued. Also, a default is a breach of or failure to fulfill the terms of a note or contract.
Failure to make payments as specified in the terms of a loan contract or failure to comply with other requirements of a mortgage.
Failure of a person, usually the defendant to file an answer, response, or appeal in a civil case within a certain number of days after having been served with a summons and petition.
Failure of a debtor to pay principal/interest on a due date or failure to fulfill a duty or discharge an obligation, such as mortgage payments.
Failure to perform a task, fulfill a contract, agreement, or duty. Fail to perform or pay.
Failure to meet the terms of a credit agreement.
failing to make loan repayments or carry out a contract
bond is in default when the borrower has failed to live up to the obligations under the terms of the agreement. Examples of this are declining to pay interest or sinking fund payments or failure to redeem the bonds at maturity.
Failure of the grantee to produce as promised ; failure to meet the terms of an agreement.
Failure to comply with the terms of an agreement or to meet an obligation when due.
The failure to meet the legal obligations in a contract; in real estate, failure to pay mortgage payments as scheduled or to comply with other stipulations of the mortgage
The condition that occurs when a consumer fails to fulfill the obligations set out in a loan or lease
Failure to pay in a timely manner principal and/or interest when due, or a Technical Default, the occurrence of an event as stipulated in the Indenture of Trust resulting in an abrogation of that agreement. A Technical Default can be a warning sign that a default on debt service is coming, but in reality actual debt service interruption does not always occur if the problems are resolved in time. A Technical Default will almost always drive down the price of a bond in secondary market trading.
The failure of a party to make payment of interest or principal on a debt security when due. Delivery Versus Payment (DVP) Simultaneous, certain, final, and irrevocable exchange of securities and funds. A securities settlement system that provides a mechanism that ensures that delivery occurs only if payment occurs.
The failure to fulfill a duty or promise; discharge an obligation; or omission or failure to perform any act.
Failure to make mortgage payments on time or to meet other terms of a loan. Default can lead to foreclosure.
Default occurs when you fail to pay your loan according to the terms on your promissory note.
is the failure to do something required of you under contract – an obligation. Ordinarily the obligation is to pay money, which is you do not pay, would mean you are in default of the contract
A failure by a borrower to repay any amount due under a loan in full and on time.
In law, a default is the failure to do something required by law or to appear at a required time in legal proceedings.
In finance, default occurs when a debtor has not met its legal obligations according to the debt contract, e.g. it has not made a scheduled payment, or violated a covenant (condition) of the debt contract. Default may occur if the debtor is either unwilling or unable to pay their debt. This can occur with all debt obligations including bonds, mortgages, loans, and promissory notes.
Related Terms:
Defaults, Default settings, Default, Program, Configuration, Preset, Default setting, Configure , Environment, Computer program, Macro, Toolbox , Application program, Default value, Subsystem, Computer software, Default, Application programming interface, Software suite, Toolchain, Application, Command, Utility, Subroutine, Application system, Application software, Software, Setup program, Simulator, Software application, Application program interface, Debugger, Function, Software product, Package, Control panel, Executable program, Module, Breakpoint, Api, System software, Software package, Emulator, Integrated package, Programmer, Bundled software, Programming, Applications software, Run , Applications
Process by which EIS automatically assigns a value to a field; the value remains in effect unless overridden.
This is the factory setting or configuration of software or hardware.
the original settings; what will happen if you don't change anything
If you do not select or change the setting then the default will be used. For example, if the default is the red color. And you draw a rectangle, then the rectangle will be red in color.
A value that is automatically assigned by the application when the user or programmer does not specify a value.
The setting or value that is selected if you do not choose one. For example, most programs come with settings set automatically. If you do not change these settings, then the program will use these default values.
The values built into a software program until manually changed by the user, usually via a settings or configuration page. Each of our scripts come with creafully thought-out defaults so that when you configure them, most values do not need to be changed.
A preset option on the computer that can be changed and customized to your specifications.
What happens unless you have changed the setting or make a specific choice.
A computer software setting or preference that states what will automatically happen in the event that the user has not stated another preference. For example, your computer may have a default setting to launch or start Netscape whenever a GIF is opened; if you prefer to use Photoshop whenever you need to view a GIF, you can change the default setting.
Any pre-set value which will be used by a programme if you dont choose another option in its place. Windows default colours are blue and grey but you can adapt these to suit your whim. A Word-processor will always assume you intend to print on upright (portrait) A4 paper with standard margins around your text - these are default values.
The standard setting that most computer hardware and software is set to for a variety of functions.
In an electronic environment default function settings return specifications to a relative "home-base" in the absence of instruction from the operator. Depending on the software, new default settings can be made for one or more functions.
the preset value from the factory or the software writer that the program or equipment comes with. In the absence of any other command from the user, it will work with default values.
The standard or automatic setting of a feature in a hardware or software.
Settings that are automatically assigned by a program or system until the user specifically changes them.
The settings or configuration of a program before the user changes any options.
A predefined setting for variables such as slide margins, fonts and their sizes and styles within a placeholder, etc.
Any time a decision is automatically made for you by the computer or software program.
The option that is presumed to be selected if a user makes no choice. In most programs, the defaults can be changed to reflect personal preferences.
the predetermined settings that the computer/program/printer uses. These settings may be changed by the user.
Describes the status of a given file number that will be automatically assigned to new transactions for that client.
Default is something that happens automatically. It is usually what happens when something that could have other alternatives happen, but the other alternatives are not taken or called for so instead the default happens . . . automatically, in the absense of other instructions.
A pre-set value used by a computer until it is specifically changed by a user.
The settings that are automatically selected by the system when initially setting up an account, or sending a message.
Page -The default page setting should be set to whatever the default (or index) page is in your site's directories. Usually, this will be 'index.html', but on Windows IIS servers, it is often 'Default.htm' or 'index.htm'. This information allows Google Analytics to reconcile log entries such as 'http://www.example.com/' and 'http://www.example.com/index.html', which are in fact the same page. Without the Default Page information entered correctly, these would be reported as two distinct pages. Only a single default page should be specified.
a default is a classical inference rule plus a set of consistency conditions, which allows you to model rules that are "normally" true, that is, as long as the consistency condidtions are not violated. A Default consists of three parts, the prerequisite, a set of justifications (consistency condiditons) and the consequent (conclusion). Formal definition: Let A(X), B1(X), B2(X), ..., Bn(X), C(X) be first order formulas, with X = (x1, x2, ..., xn) being the set of free variables occuring in these formulas. Then a Default is an expression of the form: A(X) ... prerequisite { B1(X), B2(X), ..., Bn(X)} ... consistency conditions ( = justifications) C(X) ... consequent, conclusion The Default for example can be read as follows: "If A is valid and there are no objections to B1, B2, ..., Bn , then C.
Anytime an automatic decision is made for you by the computer or software program.
Default is a term used to describe a setting that is automatically set in a program or on your computer. It is usually set to make using the computer easier.
A value or setting that takes effect when the equipment is turned on, reset, or initialized.
System or user defined setting or value that automatically applies to a field if users do not supply a different setting or value when submitting a new action request.
A pre-set choice or option. The way something will automaticlly work unless set differently.
Pre-set choices that will apply unless you override them.
Sometimes known as the "factory" setting; the value of a parameter that is set when an instrument is initialized or first powered on. (See "Initialization")
a value to which some variable is automatically set, unless an alternative value is provided by the user.
This term is used to describe a preset value for some option in a computer ...
An automatic decision that is made by computer software and hardware programs. The decision will automatically be carried out unless the user changes the default settings.
A default setting is a preset, or "out of the box" setting, as opposed to a setting which has been customized by the user.
Is the original or recommended setting that the computer can reset itself to.
Refers to settings used by BBS or communications software. Many times the preset configuration works fine, especially for new users.
the choice selected by the computer when the user has made no choice, usually the first screen that comes up in an operation.
A choice automatically made by a computer program.
computer or software settings as set in the factory or by the software creator.
A standard setting in a database or computer program, to which the program always returns after performing an operation.
Computer settings and programs usually offer default settings that a user can modify to suit their needs. Many programs will offer a default setting button that will return the configuration back to the default state.
A software function or operation which occurs automatically unless the user specifies something else.
A setting that any computer system (including browsers and software) uses automatically. The term implies that these can be changed according to usersâ€(tm) preferences.
A computer software setting or preference a user has the option to set. This setting states what the user wants to have automatically happen in the event that another preference is NOT stated or asked for.
Command which is automatically executed if none is specifically indicated.
A value, attribute, or option that is automatically supplied or assumed by the system or program when no value is specified by the user.
A value or setting that a device or program automatically selects if you do not specify a substitute. For example, word processors have default margins and default page lengths that you can override or reset. You can select the default action by pressing Return or Enter. The default action in a Mac OS 9 dialog is usually represented by the button with a double outline. The default action in Mac OS X is represented by the button that is pulsing.
The standard setting for computer hardware and software. Unless other settings are specified by the user, the computer assumes the default settings to be correct and preferred.
The option that the software or system chooses when you don't indicate a choice yourself. For example, Windows uses a default set of colors unless you choose other colors in the Desktop control panel.
A setting that the computer system uses automatically, unless it is changed by the user.
The setting that will occur if no further information is furnished.
The original settings of a program or some other configurable system. Same as 'factory settings'.
Used to return a product to manufacturer standard settings where these have been changed by the user.
When a value, parameter, attribute, or option is assigned by a communications program, modem, or online system unless something else is specified, it is called the default. For example, communication programs often have prespecified values for baud rate, bit size and parity that are used unless alternative values are given. These prespecified values are called the defaults. Some services give users a choice between two or more options. If a selection is not made by the user, then a selection is automatically assigned, by default.
A choice made by a program when you do not specify an alternative.
The values or options selected by the processor or an application program when the user does not specify a setting. For example, the Setup programs for LXE devices and applications have default settings (set by LXE) that allow the product to work the first time you start it.
The settings your computer automatically uses, unless it receives other instructions.
A value for certain adjustable functions of a computer system that is preset by the maker.
A standard setting or entry that is added automatically.
An operation or value that the system or application provides, unless a user makes an explicit choice.
A setting automatically assumed by computer hardware or a software application with regard to various operating functions. For example, when starting, a word processing program defaults to certain margins, spacing, and fonts set by the program's developer. Many default settings in both hardware and software can be changed to suit the user's specifications.
In a program that gives you more than one choice, the default choice is the one you get by not choosing. The default is usually the most common choice. As an example, the default file for many UNIX programs is the standard input. If you don't give a filename on the command line, a program will read its standard input.
The settings of software as the user first sees it before making any changes.
In some dialog boxes or application it will ask if you want the default settings. These are the settings recommended by the program for general use.
a pre-set value which the computer uses unless you tell it to use something different. You can have a default setting for your margins in a word processor, which is like having your margins set to a certain width on a typewriter -they stay that way until you deliberately change them.
A value set automatically by an application.
To return the system to its basic initial program. Many times this is referred to as "factory" settings.
Any setting that is automatically assumed by the system.
Any setting assumed at start-up or rest by the computer= s software and attached devices and operational until changed by the user. An assumption the computer makes when no other parameters are specified.
The 'default' option chosen by the computer or application automatically unless it is overridden by a user.
A preset value for a code in the database that will be used if no value is entered for the code.
a present value of setting automatically selected by a program or device if a subsitute is not selected.
Settings or options the computer automatically adopts if the user does not specify any.
The settings that are applied automatically by the system or application unless you change them.
The default option is the one the software automatically selects if you do not alter it.
Sets the PPP connection as the default route.
an automatic setting, mode, or action. Usually, there are alternative ways to perform any action in a computer program, but the default action is what will occur automatically if no other alternative is selected.
The standard for any setting.
The options that are used if no others are specified. For example, if you run a word processor and start typing a letter, it will use the default typeface and the default paper size and margins. You can always change these settings later
The standard value or setting that a program uses if the user does not specify a value.
A computer software setting that states what will automatically happen in the event that the user does not state a preference.
The standard, or fall-back, settings for a piece of software or hardware.
The settings before they are changed
setting A preset parameter in computer programs which will be used unless changed by the operator.
This term is used to describe settings or functions which computer hardware or software will automatically use when started.
The functional setting values returned following a factory reset of the printer.
A selection automatically used by a computer program in the absence of a choice made by a user
An original, factory setting. For example, the taskbar in Windows95 is located at the bottom of the screen by default, but you can move it to any side of the screen by dragging it with the mouse.
Any setting assumed, at startup or reset, by the computer's software and attached devices. The computer or software will use these settings until changed by the user or other software.
The standard choice, option or selection automatically used by a computer program unless changed by the user.
Value settings that take effect when a device (such as a printer) is turned on, reset, or initialized.
a setting automatically chosen by a software program or machine that remains until the user specifies another setting.
setting: setting that is selected automatically unless an alternative is specified
A default setting is one you haven't changed - what a program will do (or use) if you don't tell it any different. "Accept the defaults" means leave any settings as they are.
A set of values used when no other selections have been made. These are sometimes called factory defaults if the original values have not been changed since the scanner left the factory.
A mode, or group of modes, that a point-and-shoot always returns to after settings are changed for a particular shot or roll.
The settings you get if you don’t specify something different. Includes things like the font used in a new Word document.
This is what you get (by default) if you don't make some other choice first or if no other condition applies first. The default position for the accent on Inezeño words is the second syllable from the end, as in lukúmel " to go straight."
An automatically designated value, setting, or an action automatically taken, unless otherwise specified. Values or parameter settings defined by the software vendor or the system user that are applied automatically during data entry, editing, and/or analysis operations unless changed by the user. For example, a default snap radius is set at 5 model units unless the current polygon processing transaction requires a different one to be applied. For data models there can be default symbol libraries, file and attribute naming conventions, DBMS configurations, interface links, and spatial database formatting schemes.
A predefined setting built into a program, used when an alternative setting is not specified.
A default setting or value is the setting or value an object will have if it is not explicitly set or “ customized” by the user at some point. For example, the default setting for “ suppressing field object is “off”. This will only change if the user sets a different value for this property, in this example by checking the suppress box or creating a condition formula for suppression.
A standard selection for those who do not exercise choice in their Member Investment Choice or Insurance Option. Members of AustralianSuper are free to change from either of these default options at any time.
Automatic setting by the computer if no selection has been made.
The factory-set value for any programmable option in the alarm system. To “default the system” is to perform either a hardware or software operation that returns all options in the system to values they had when the system left the factory
Related Terms:
Default value, Default values, Parameter, Default, Function, Argument, Watchpoint, Volatile, Parameters, Bind variable, Intrinsic function, Option value, Return value, Option, Base value, Parameters, User-defined function, Missing value, Parameter list, Procedure, Appraise, Constant, Theoretical value, Default argument, Value, Procedure, Lov, Value, Cost approach to value, Default settings, Property, Current value, Use value, Extrinsic value, Profile, Var, Initialize, Valuation, Appraised value, Market approach to value, Actual parameter, Defaults, Parameters, Global variable, Generator , Var, Set, Default, Value
An alternative value, attribute, or option that is assumed when none has been specified.
The value of an argument, field, or part of a command line assumed by a program if a specific value is not supplied by the user.
Value used when you do not explicitly specify a value
a value or state assumed to be true by the computer unless contrary instructions are given.
The property of a value, attribute, or option that is assumed when no alternative is specified.
(ANSI) Pertaining to an attribute, value, or option that is assumed when none is explicitly specified.
A default is the value that is used for a certain purpose if and when you do not specify a value to use.
Defines value that will be recorded if not specifies by the user.
information the operating system assumes as input if the information is not explicitly provided
In software, the "out of the box" value of a configuration option. The software will use this value unless the user explicitly indicates a different one in a setup program, property sheet, or .INI file.
A value, attribute, or option that is assumed when no alternative is specified by the programmer.
A value used when none other is specified.
The option chosen by the system when no other option is specified.
A setting or value that is assumed unless specified otherwise.
Database object that enables the database to insert a value into a column if the user does not explicitly enter one. Compare with global default.
A clause or option value that SQL*Plus uses if you do not specify an alternative.
Statement used as part of a switch statement to indicate the fallback execution path if none of the cases within the switch apply.
The value that the system will assign to an element if no other value is entered.
A value a program selects when no other is specified.
A default is the value given to an argument if none is specified by the user.
A Java keyword optionally used after all case conditions in a switch statement. If all case conditions are not matched by the value of the switch variable, the default keyword will be executed.
The latest day or time by which the buyer of an option must indicate to the seller his intention to the option.
The action that will be taken by a computer program when the user does not specify a variable parameter.
The parameter value accepted by the program if the user doesn't specify a value. To use the default for a positional parameter, the user types the letter X in the command line.
this is the fallback value. If nothing else is specified the default value will be used. If you install a program, it generally installs with the default settings, and you can customize it afterwards with your preferences.
A value or option that system uses if you do not specify anything.
In software, the "out of the box" value of a configuration option. The software uses this value unless you define a different value. For example, when you are building your Web site with Tapestry the default file name is index.html for a Web page.
The value or option that will prevail if not positively changed.
An action or value that the computer automatically assumes, unless a different instruction or value is given.
The value(s) or option(s) that are assumed during operation when not specified.
The value of a parameter used by a program in the absence of a user-supplied value.
A value, action, or setting the computer assumes unless you specify otherwise.
A value, attribute, or option that is assumed when none is explicitly specified.
The values or options that are assumed when not specified.
(1) A value supplied by the system when a user does not specify a required command parameter or qualifier. (2) In SQL*Forms, a value that a form places in a field of a created record, which the user may then change. (3) A predefined value that SQL*ReportWriter uses for a given setting if you do not specify a value. (4) A SQL*ReportWriter object (such as a group, field, frame, etc.) that SQL*ReportWriter creates so that you do not need to create it yourself. (5) A value that Oracle Graphics assigns to an attribute if you do not specify one.
Value supplied by the system when you do not specify a required command parameter or qualifier.
A value or parameter which is assumed, unless the user supplies an alternative. Many software programs supply default values and options
the value assumed by a variable or parameter when none has been supplied by the user (of a program)
A value or condition that is assumed by the operating system or compiler if no other value or condition is specified.
used in computing to refer to a preselected option adopted by the computer when no alternative is specified by the user.
A start-up value for parameter, ie the value given before any programme specifications have been made.
An option that is used automatically unless an alternative is specified. For example a default font of Times New Roman 12 is very common.
To leave out of account; to omit.
the value supplied by the system when the user omits it from a parameter list on a command or control statement. WWWebfx Home Page
From Extensible Markup Language (XML) 1.1 ( 2004-02-04) If the declaration is neither #REQUIRED nor #IMPLIED, then the AttValue value contains the declared default value; the #FIXED keyword states that the attribute MUST always have the default value. When an XML processor encounters an element without a specification for an attribute for which it has read a default value declaration, it MUST report the attribute with the declared default value to the application.
From Extensible Markup Language (XML) 1.0 ( 2000-10-06) If the declaration is neither #REQUIRED nor #IMPLIED, then the AttValue value contains the declared default value; the #FIXED keyword states that the attribute must always have the default value. If a default value is declared, when an XML processor encounters an omitted attribute, it is to behave as though the attribute were present with the declared default value.
A win declared because of the opponent's disqualification or injury.
A win declared when the opponent is disqualified or injured too badly to wrestle, and does not appear when his name is called for the bout.
Being disqualified from a match for any reason.
Related Terms:
Program, Computer program, Default, Programming, Computer software, Software, Application program, Simulator, Emulator, Executable program, Application, Run , Computer program, Instruction, Programmer, Application software, Debugger, Function, Utility, Emulator, Macro processor, Software suite, Command, Macro, Subroutine, Bundled software, Software application, Applications software, Program, Software interrupt, Applications, Toolchain, Source code, Software product, Instruction set, Breakpoint, Execute, Source program, Quine, Main program, Compiler, Programmable, Integrated package, Toolbox , Emulation, Debug, Branch, Utility program, Word processing software
A value or option selected by the computer in the absence of specific instructions by the user.
The way a computer performs a task in the absence of other instructions.
The selection made by the computer in the absence of specific instructions by the user.
An instruction that a computer assumes, unless the user gives it other instructions.For example, if the default typeface on a word processing program is Times Roman, the user may instruct the machine to use a different default typeface; once the program is opened, a variety of types may be used, regardless of the default setting.
interface: The parameters your program uses in the absence of instructions to do otherwise. For example, when you open a new document in your word processor, the typeface is usually Geneva 12 and the tab stops are whatever the program's designers decided. You may reset some or all of the defaults in good applications by choosing "Preferences" from one of the menus.
Related Terms:
Defaults, Unsecured loan, Delinquent, Default, Cosigner, Default, Recourse loan, Unsecured loans, Unsecured credit, Repayment plan, Delinquency, Pre-foreclosure sale, Non-recourse, Workout , Loan, Debt consolidation loan, Secured loan, Default, Borrower, New borrower, Repayment, Secured credit, Signature loan, Unsecured debt, Co-signer, Co-signer/co-borrower, Creditworthiness, Subordinated loan, Non-recourse loan, Repayments, Installment debt, Acceleration, Co-borrower, Mpn, Preforeclosure sale, Unsecured, Credit, Student loan, Debt consolidation, Secured, Unsecured personal loan, Co-maker, Acceleration clause, Pre-foreclosure, Collateral, Credit history, Nonrecourse loan, Collateral mortgage, Delinquent loan, Master promissory note
A designation on a credit report that indicates a person has not paid a debt. Accounts usually are listed as being in default after several reports of delinquency. Defaults are very serious and are considered as negatives on a credit report.
The status of debt with delinquent or nonpayments.
A designation on a credit report that indicates a person has not paid a debt that was owed. Accounts usually are listed as being in default after several reports of delinquency. Defaults are a serious negative item on a credit report.
The status of a debt account that has not been paid. Accounts are usually listed as being in default after they have been reported late (delinquent) several times. Defaults are a serious negative item on a credit report.
A mortgage loan in default is one that no longer pays principal and interest, and then remains delinquent until liquidated.
A buyer is considered to be in a state of individual default, as understood in the credit-insurance contract, if the said buyer's debt has not been paid on the initially contracted or extended due date.
Default is a post-grunge band from Vancouver, the same city where Nickelback's career started in 1995. They are famous for supplying songs for the popular computer/console games by EA Sports, and are known for their sizable US rock and mainstream radio hit "Wasting My Time". Their first album "The Fallout" was produced with the help of Chad Kroeger, the vocalist in Nickelback.
valor padrão
Related Terms:
Debt, Unsecured, Secured, Collateral, Unsecured debt, Secured debt, Deficiency judgement, Repossession, Security, Debt restructuring, Senior debt, Subordinated debt, Unsecured loan, Secured loan, Debt relief, Deficiency judgment, Subordinated loan, Workout , Negative pledge, Non-recourse, Deficiency, Recourse, Nondischargeable debt, Recourse loan, Note payable, Junior debt, Unsecured creditor, Debt refinancing, Outstanding debt, Debt management plan, Debt management, Secured loans, Debt financing, Collateral mortgage, Hypothecation, Unsecured loans, Bad debts, Note, Non-recourse loan, Loan, Debt settlement, Redeem, Borrower, Bad debt, Pre-foreclosure sale, Debt consolidation loan, Release of liability, Default, Charge, Debt collection agency
This is when you are unwilling or unable to pay your debts.
Inability to pay out debts or fulfill liabilities. Any debt means trust, and inability to pay debts is a violation of the liability undertaken.
The unsuccessful fulfillment of one's debt or promises.
If any customer does not pay, and if the client is unable to increase the reserve back to the original reserve percentage, then the client can factor more "substituted" invoices to rectify rectify customer default.
When borrower is not able to pay the auto finance in full, then he is said to have defaulted.
the issued of a debenture is unable to pay the interest and/or principal to the debt holders.
Default occurs when the borrower is not able to pay the auto finance in full.
Related Terms:
Judgments, Collection, Default, County court judgment, Default notice, Due diligence, County court judgement, Ccj, Defaults, Judicial foreclosure, Default argument, Notice of motion, Default judgement, Defaulter, Exception, Notice of default, Deficiency judgment, Interrogatories, Interrogatory, Default, Motion , Default, Reschedule, Adversarial system, Issue, Trial de novo, Nod, Motion to reconsider, Moot, Motions, Deficiency judgement, Default value, Pre-foreclosure, Default values, Pending, Workout , Discovery, Factum, Default, Deposition, Notice of appeal, Default directory, Jury instructions, New borrower, Delinquent loan, Request for admission, Cosigner, Objection, Strict foreclosure
The standard configuration or values for a screen, program, or field. For example, the default Desktop is displayed the very first time you start the Desktop, before you have made any changes.
What the system will do for you if you don't specify anything. Never the same thing twice.
is what you get until and unless you assert that you want something else. This meaning is used widely in computer applications.
A computer-provided response to a question or prompt. The default might be a value pre-existing in a file. Often, you can change a default.
means that the court gave the moving party what he asked for because the other party did not oppose the motion with a written response. The usual deadline for filing the response is 21 days after the motion is served. If you were served with a motion and you don't want to be defaulted, file your “Opposition to Motion” with the clerk within 21 days. On a Motion to Modify child support, the deadline for filing your objection and hearing request is 30 days. (Click here to see more.) Also, either party can be defaulted for not following the rules or not showing up for court dates.
this statement allows you to change the initial texture on an object. You can declare a default pigment (normally black), a default finish (normally unpolished), and a default normal (normally flat). ( Language Reference)
When you first turn on the computer, each memory location will contain a value. These initial values are called defaults, meaning that this is what these locations will equal if you don't change them.
Related Terms:
Promissory notes, Redeem, Debt instrument, Note, Debt security, Bond, Redemption, Secured bond, Notes, Debt securities, Debenture, Defeasance, Clo, Default risk, Promissory note, Debt financing, Debenture bond, Credit risk, Cdo, Default, Debentures, Redeem, Default, Full faith and credit, Note payable, Unsecured note, Bonds, Subordinated debenture, Pre-foreclosure sale, Security, Maturity, U.s. treasury securities, Recourse loan, Redemption date, Commercial paper, Mpn, Tranche, Funded debt, Forbearance agreement, Mortgage note, Senior debt, Income bond, Escrowed to maturity, Workout , Refunding, Maturity date, Government obligations, Prepayment clause, Master promissory note, Defaults
Any default under the terms of the Agreement, this Correspondent Sellers Guide or the Master Servicer Guide, as applicable.
A bond that ceases to pay interest (because the issuer has financial problems) is in default of the terms of the bond agreement, and is said to be in default. Clearly, purchasing a bond in default is an extremely risky investment.
When the issuer of a bond does not maintain interest payments or repay the face value of the bond at maturity.
A default takes place when the debtor is not able to repay debts according to the specified agreement.
A term used when a person or company breaks the terms of an agreement.
The basic set-up of a system, which is used unless the user specifies otherwise. For example, the default printer is the printer to which a document is sent for printing, unless the user specifies it should go elsewhere.
What a program does unless you tell it otherwise. The "default" page is the first page your Web browser displays when you start it.
Standard assumptions a computer system uses unless otherwise instructed.
Default refers to a setting that suits most printing applications and so will be used by the printer/software unless told otherwise.
Choosing the default option enables you to avoid making a decision. If you not sure what to choose, select default.
Some add content forms may have options already selected for you
A response or option assumed to be the most appropriate by the computer. In microBRIAN, defaults are given in '[ ]' at the end of a prompt and may be selected by typing '/' and hitting the return key.
Related Terms:
Forbearance agreement, Non-performing loan, Promissory note, Default, Restructure, Lock-in clause, Workout , Mpn, Default, Master promissory note, Defaults, Note, Mortgage note, Acceleration, Repayment plan, Loan agreement, Pre-foreclosure sale, Acceleration clause, Promissory notes, Recourse loan, Default, Collection, Delinquent mortgage, Borrower, Cosigner, Loan, New borrower, Prepayment clause, Repayment, Co-signer, Co-borrower, Modification agreement, Signature loan, Unsecured loan, Delinquent loan, Co-maker, Loan taking a loan, Pre-foreclosure, Due diligence, Event of default, Retire, Guarantor, Unsecured personal loan, Forbearance, Delinquency, Penalty clause, Demand clause, Repayments, Non-recourse loan, Delinquent
To "not perform" in an agreed to manner.
Not making a mortgage payment, or not performing as agreed upon by the terms of a promissory note.
To agree to perform in a said manner and then not perform.
The act of not performing as promised.
To discount the manner in which you agreed "to perform."
One of the four access modifiers in Java. If an element or method is denoted as default (or has no access modifier, hence it is given the modifier of defualt), it is only accessible from within the class where it is defined and the package that class is defined in.
When a defendant doesn't file an answer in time or go to court when s/he is supposed to. If the defendant was properly notified, the judge can decide the case without him or her.
Related Terms:
Recourse loan, Pre-foreclosure sale, New borrower, Mpn, Defaults, Co-borrower, Default, Repayment, Borrower, Workout , Cosigner, Unsecured loan, Non-recourse loan, Co-maker, Master promissory note, Repayment plan, Pre-foreclosure, Delinquent loan, Signature loan, Co-signer, Delinquent mortgage, Acceleration, Preforeclosure sale, Co-signer/co-borrower, Secured loan, Unsecured loans, Foreclosure loan, Nonrecourse loan, Default, Collateral mortgage, Debt consolidation loan, Mortgage note, Loan, Acceleration clause, Subordinated loan, Repayment term, Unsecured personal loan, Non-recourse, Holder, Collection, Delinquent, Lock-in clause, Secured loans, Promissory note, Non-performing loan, Installment debt, Co-mortgagor, Prepayment clause, Delinquency
A person is said to have defaulted when he does not pay the whole of the car loan or any other loan in full.
Not honoring a legal commitment is known as a default. One common type of default is not paying back a loan.
Margin VA Loan
What takes place when you don't pay a loan or lease debt in a timely fashion.
Where the normal repayment has not been made on the specified date.
Purposely miss one or more loan repayments.
default risk demand loan
Currently selected disk drive and user number. Any command that does not specify a disk drive or a user number references the default disk drive and user number. When CP/M is first invoked, the default disk drive is drive A, and the default user number is 0.
The condition that is standard if no specific preferences have been determined by the user.
That which is chosen by the Operating System or program if the user doesn't specify something different. E.g. default drive, default printer, default directory, etc..
the "normal" or "startup" state of a hardware device or software application.
A default is awarded when one of the competitor's is unable to continue for any reason.
money placed in trust by the purchaser when an Offer to purchase is made. The sum is held by the real estate representative or a lawyer until the sale is closed, and then paid to the vendor.
A default action in a state is the reduction to be taken if there is no possible transition for a particular input symbol. Most states have only one reduction, the default reduction. Those states that have multiple reductions, also have a default reduction. Those states that don't have a default reduction are error states.
Patient stopping treatment before completion.
The pre-defined configuration of a system or an application. In most programs, the defaults can be changed to reflect personal preferences.
Can refer to the currently open tree (tree name and shot) or to the currently defined node default within that tree.
A system-provided role.
as in the C switch construct.
Includes each of the events of default listed in Section 7(1).