default on (something) To fail to repay a loan on something (which often results in the loss of that thing). If you default on your car loan, your car might get repossessed. Don't agree to a monthly payment you can't afford. The last thing you want to do is default on your mortg...
Loan Rehabilitation:Loan rehabilitation is a process that enables you to remove the default status from your student loans by making a series of on-time payments. This option requires you to work with your loan servicer to establish an affordable payment plan based on your income. Successful com...
in their opinion, the Fed’s stress test that measures counterparty risk on a bank by bank basis was ill-conceived. The problem, according to the researchers, is not what would happen if the largest counterparty to a specific bank failed but what would happe...