loan default

[/loʊn dɪˈfɔːlt/]
nounpl: loan defaults
inadimplência de empréstimo
1. The failure or neglect of a borrower to fulfill the terms of a loan agreement, particularly the failure to make required payments on time
The bank reported a significant increase in loan defaults during the economic recession.
O banco reportou um aumento significativo de inadimplência de empréstimos durante a recessão econômica.
2. A legal event that occurs when a borrower fails to meet obligations specified in the loan contract
If you miss three consecutive payments, your loan may go into default.
Se você perder três pagamentos consecutivos, seu empréstimo pode entrar em inadimplência.
Loan default is a serious financial and legal matter in both the USA and Brazil. In Brazil, the term 'calote' is widely understood colloquially across all socioeconomic classes. Brazil's banking system has strict regulations regarding loan defaults, and the Central Bank maintains a public database (Cadastro de Pessoas Físicas) of individuals with outstanding debts. In the USA, loan defaults significantly impact credit scores and can lead to legal action and asset seizure.
NYC Slang
getting burned / stiffed / going belly-up on a loan
Synonyms / Sinônimos
non-paymentdelinquencyfailure to paybreach of contract
Antonyms / Antônimos
timely paymentloan fulfillmentpayment compliance

Regional Variations

General Brazilian
inadimplência de empréstimo
Most common and formal term used in financial contexts
General Brazilian
calote
Informal, colloquial term for loan default or not paying a debt
Portugal
incumprimento de empréstimo
Portuguese standard term, emphasizing breach of contract

Related Words

delinquencycredit riskforeclosurecredit scorerepossessiondebt collection

Related Idioms & Phrases

to go into default
to default on a loan
default risk
loan workout
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