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"defaulted on" is a correct and usable term in written English
You can use "defaulted on" to refer to the act of failing to fulfill an obligation, such as failing to make a payment or fulfill a contract. For example, "The company defaulted on their loan payment and now face serious consequences."
Exact(59)
Instagram users will see the "Hide Offensive Comments" setting defaulted on in their settings.
One in six have defaulted on fines.
He defaulted on that mortgage in January.
Or it can be defaulted on.
Mexico defaulted on its debt in 1914.
Mortgages were defaulted on across the nation.
The businessman defaulted on all the loans.
They defaulted on the mortgage last fall.
The Soviet Union defaulted on them.
Greece finally defaulted on its debt.
The party defaulted on the debt.
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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