default/ dɪˈfɔlt /
noun
failure to act; inaction or neglect:
They lost their best client by sheer default.
failure to meet financial obligations.
verb (used without object)
to fail in fulfilling or satisfying an engagement, claim, or obligation.
to fail to meet financial obligations or to account properly for money in one’s care:
When he defaulted in his payments, the bank foreclosed on the car.
verb (used with object)
to fail to perform or pay:
to default a debt.
to declare to be in default, especially legally:
The judge defaulted the defendant.