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Free sign upThe word 'defaulting' is correct and can be used in written English.
It is usually used as a verb and means to fail to fulfill an obligation or to default on a payment. Example: The company's financial situation has worsened, leading to them defaulting on their loan payments to the bank.
Dictionary
defaulting
verb
Present participle of default
synonyms
Exact(60)
Its partnership with Safaricom is encouraging but the company has run into problems with businesses defaulting.
In the event of agreement not being reached, the economy could collapse, with Greece defaulting on its loan obligations and likely exiting the 19-member eurozone.
The fear is that without the €7.2bn of outstanding bailout money, Greece will end up defaulting on its debts and leave the eurozone.
Two-thirds of the 30 to 40 members of the House who shut down the government and gleefully pushed the country toward defaulting on our debt come from former slave states.
Eurozone officials meet for further crunch talks on Greece this week amid warnings that time is running out for the country to avoid defaulting on its debts and being jettisoned from the single-currency bloc.
The possibility of Greece defaulting on its obligations to the IMF is causing ripples in the financial markets.
But with Greece running out of money and needing to secure funds by the end of June if it to avoid defaulting on its debts, tensions are high.
The findings will also put pressure on the Bank of England to maintain low interest rates, possibly until the end of the decade, to prevent hundreds of thousands of younger workers from defaulting on their loans.
Measures which threaten to upset voters for example, those that might hurt the interests of building firms, or force banks to foreclose on defaulting companies are likely to be postponed again, even though bold action is long overdue.
Had the Argentine government resolved its row with "holdout" investors, rather than defaulting in July, it might now be able to tap international markets for hard currency.
Meanwhile, Ukraine's new pro-Western leadership named a cabinet, paving the way for talks with the IMF to stop it defaulting.
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CEO of Professional Science Editing for Scientists @ prosciediting.com