default on (something)(redirected from defaulted on)
default on (something)
To fail to repay a loan on something (which often results in the loss of that thing). If you default on your car loan, your car might get repossessed.
Farlex Dictionary of Idioms. © 2015 Farlex, Inc, all rights reserved.
default on something
to fail to act in some way regarding something, such as failing to make a payment, thereby losing one's right to the thing in question. You are not going to default on your loan, are you? She defaulted on her mortgage payments and lost the house.
McGraw-Hill Dictionary of American Idioms and Phrasal Verbs. © 2002 by The McGraw-Hill Companies, Inc.