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payment default vs default payment

Both "payment default" and "default payment" are correct phrases, but they are used in different contexts. "Payment default" is commonly used in finance to refer to a failure to make a payment on time, while "default payment" is less common and may refer to the standard payment arrangement in a particular situation.

Last updated: April 13, 2024 • 150 views

This phrase is correct and commonly used in finance to refer to a failure to make a payment on time.

"payment default"

This phrase is used in the context of finance to describe a situation where a borrower fails to make a payment on time, leading to a default.

Examples:

  • The company faced a payment default due to cash flow issues.
  • The bank warned of potential payment defaults on loans if the economy worsens.
  • A payment default on your record tells potential lenders that you cannot be trusted to repay a loan. This can mean you will struggle to obtain new funds for ...
  • Oct 28, 2013 ... Early Payment Default (EPD) occurs when a mortgage ... For borrowers at risk of early payment default or re-default, servicers must:.
  • The earliest uncured payment default is the date of the earliest failure by a Borrower to pay a regular installment of principal and/or interest when due.
  • Precise introduced threeyear capped tracker-rate loans last week for borrowers with one payment default in the past three years. Times, Sunday Times. The credit ...
  • Aug 29, 2017 ... Fannie Mae may conduct several different types of reviews, including post-purchase reviews, early payment default reviews, servicing reviews ...
  • Aug 10, 2021 ... This consultation, which has been prepared jointly with BEIS, focuses on supplier payment default under the RO.
  • Feb 15, 2023 ... The nonpartisan Congressional Budget Office warned that the federal government would be at risk of a payment default as soon as July if ...
  • You will not get a payment default entry simply because you are late with a payment. Contact the creditor or debt collection agency well in advance and try to ...

Alternatives:

  • default on a payment
  • missed payment
  • late payment

This phrase is correct but less commonly used. It may refer to the standard payment arrangement in a particular situation.

"default payment"

This phrase can be used to describe the standard payment that is automatically applied in a specific situation, such as the default payment method on an online platform.

Examples:

  • The default payment for this service is credit card.
  • You can change the default payment method in your account settings.
  • Find your default payment method. Open the Google Wallet app . At the top, on your payment methods, swipe from the right edge of the screen to left ...
  • Dec 14, 2021 ... When can I set Payoneer Prepaid Card or Payoneer Local Bank Transfer as my default payment method? Payoneer will confirm directly to you via ...
  • Mar 13, 2023 ... In the Azure portal, you can change your default payment method to a new credit card and update your credit card details.
  • A default payment remains on your credit file for six years starting from the date of default. Unfortunately the default stays on your record for this time ...
  • ID of a payment method that's attached to the customer, to be used as the customer's default payment method for subscriptions and invoices.
  • If you configured a default payment method on either the Customer or the Subscription, be sure to include it in the list of payment_method_types .
  • May 10, 2021 ... Assessed interim default payment for LocaLoop, Inc.; requests for selective default and waiver of final payment deadline for Auction 105 ...

Alternatives:

  • standard payment
  • automatic payment
  • preset payment

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