defaulted
The company defaulted on its loan payments for three consecutive months.
The company failed to make required loan payments for three months in a row.
To fail to meet a financial obligation, especially a loan payment.
After losing his job, he defaulted on his mortgage.
He stopped paying his home loan after becoming unemployed.
The startup defaulted on its convertible notes, leaving investors with worthless shares.
The startup failed to repay its convertible debt, making investor shares valueless.
Often used in contexts involving loans, bonds, mortgages, or other debt instruments.
To fail to appear in court or comply with a legal obligation.
The defendant defaulted by not showing up for the trial.
The defendant failed to appear in court, leading to a default judgment.
In legal contexts, 'default' can refer to a failure to respond or appear, leading to automatic penalties.
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Pro Tip
Common Mistake: Confusing 'default' with 'defect'
Avoid using 'defaulted' to mean 'defective' or 'faulty.' These words are unrelated. 'Defaulted' strictly refers to failing to meet an obligation, not to products or systems being flawed.
Gold Rule
Financial Context Rule
Use 'defaulted' only when referring to unmet financial obligations (loans, bonds, mortgages). For non-financial failures, use 'failed,' 'did not meet,' or 'reneged.'
Word Origin
From Old French *defaut* (failure, lack), derived from Latin *defallere* (to fail, deceive), combining *de-* (down, away) and *fallere* (to deceive). The financial sense emerged in the 17th century, while the legal sense followed in the 18th century.
Usage Notes
Common in financial and legal contexts. Avoid using in casual conversation unless referring to financial or legal situations. The past tense 'defaulted' is more commonly used than the present tense 'defaults' in most contexts.