default on

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Certainly! Let's break down the term "default on."

Definition:

"Default on" is a verb phrase that means to fail to meet a financial obligation, such as not paying a loan, a debt, or a bill by the due date.

Usage Instructions:

• You typically use "default on" when talking about money and payments.
• It is often followed by a noun that specifies what you are failing to pay, such as "a loan," "a payment," or "a mortgage."

Example:

• "If you default on your student loan, you may have to pay extra fees."

Advanced Usage:

In legal or financial contexts, "defaulting" can lead to serious consequences, such as legal action or damage to credit scores.

Word Variants:

• Default (noun): The act of failing to fulfill a financial obligation.
  • Example: "His default on the loan affected his credit score."
• Defaulted (adjective): Describing someone or something that has failed to meet a financial obligation.
  • Example: "The defaulted account was sent to collections."

Different Meanings:

While "default" can mean failing in a financial sense, it can also mean a preset condition or setting in technology (e.g., "the default settings on your computer"). However, in the context of "default on," we are focusing on the financial meaning.

Synonyms:

• Fail to pay
• Miss a payment
• Neglect to pay

Related Idioms:

• "In the red": This means being in debt or having negative bank balance, which can lead to defaulting on payments.
• "Pay the piper": This means to face the consequences of your actions, which can relate to defaulting on a debt.

Phrasal Verbs:

There aren’t specific phrasal verbs that directly replace "default on," but related terms could include: - "Fall behind on": This means to not keep up with payments. - Example: "I have fallen behind on my credit card payments."

Summary:

"Default on" is an important term in finance that means failing to pay what you owe.

Academic

Verb

1. fail to pay up

Synonyms

• default