What is Default?
A loan default occurs when a borrower fails to make required payments, triggering penalties and credit damage.
How Default works
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Why Default matters
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Glossary · Loans
Default
Definition
A loan default occurs when a borrower fails to make required payments, triggering penalties and credit damage.
Debt payoff calculator
34
Months to payoff
$1,750
Total interest
$6,800
Total paid