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"default on debt" is a correct and usable phrase in written English.
You can use it to refer to the failure to make payments on time and in full according to a loan agreement. For example, "The company defaulted on its debt and went bankrupt shortly after."
Exact(44)
Loews Cineplex said on Aug. 25 that it might default on debt payments.
On taking office in 2003, he showed political courage in sticking to responsible economic policies, ignoring calls from his left-wing Workers Partyy to default on debt.
The gains were fueled by an easing of concern over a big property company, Sino Land, whose shares fell 45percentt on Thursday amid speculation -- denied by executives -- that the company might default on debt.
Nicola Sturgeon told Andrew Neil that she wanted Scotland "to pay its fair share of debt", but added that it could not default on debt "that is not legally Scotland's".
The swaps provide a measure of the cost of insuring against a default on debt.
Senior government officials have recently had to repeat assurances that Greece is not about to to default on debt repayments.
Similar(16)
What if Trump tries to "make a deal" with America's creditors, effectively defaulting on debt?
"U.S. government can't afford to default on debts... creditors would lose faith... catastrophic".
Expect further defaults on debt.
Countries like Mexico, Argentina, Brazil and Nigeria defaulted on debt in the 1980s.
* * * The number of people defaulting on debt will rise by 17 per cent by 2020, says Arrow Global.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com