In plain English

Default

When you stop paying a loan you owe. The bank can take you to court, and your credit score drops a lot.

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Read this term in context

Posts on this blog that mention “Default”:

How to Improve Your Credit Score

⏱ 31 min read

How to talk about money with the people you love

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How to get out of credit card debt when you feel trapped

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How to Start Saving Money When You Feel Broke

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