What's the difference between arrear and default?

Arrear


Definition:

  • (adv.) To or in the rear; behind; backwards.
  • (n.) That which is behind in payment, or which remains unpaid, though due; esp. a remainder, or balance which remains due when some part has been paid; arrearage; -- commonly used in the plural, as, arrears of rent, wages, or taxes.

Example Sentences:

  • (1) Smith manages to get a suspended possession order, postponing eviction, provided Evans (who has a new job) pays her rent on time and pays back her arrears at a rate of £5 a week.
  • (2) In Colchester, David Sherwood of Fenn Wright reported: "High tenant demand but increasingly tenants in rent arrears as the recession bites."
  • (3) Instead, 28% have simply fallen into arrears for the first time.
  • (4) The two payments meant arrears were paid off more quickly than planned, but the FCA said households may have ended up unable to repay more expensive debts as a result of the mistake.
  • (5) Because of a shortage of smaller properties, many families have found it impossible to downsize and have been forced to make up the difference in rent, pushing many into arrears and debt.
  • (6) Rental arrears are up among social tenants as a result of the bedroom tax and other benefit cuts, with 28% of them going into the red for the first time .
  • (7) Any property market crash would also have an impact on the company's arrears position.
  • (8) Those who should never have been given loans and have fallen more than 30 days behind with repayments will have their debts wiped entirely, while a further 45,000 who are up to 30 days in arrears will have their interest and charges waived.
  • (9) Eviction orders issued by a local authority generally involve individuals who are several thousands of pounds in arrears, or people who have consistently flouted reasonable repayment orders or avoided communication with the council.
  • (10) "I'm supposed to be paying £11.41 a week for this one bedroom, and they've put it up to £15.01 a week so that I can clear my arrears.
  • (11) We know they’ve cut stipends to foreign fighters and many foreign fighters are in arrears on pay.” Hammond also delivered his strongest critique yet of Russia’s air campaign in Syria , accusing Moscow of deliberately carrying out strikes on schools and hospitals.
  • (12) The total number of mortgages in arrears stood at 395,000 by the end of September, a fall of 7,000 (1.8%) on the second quarter – the first time the number has dropped in more than two years.
  • (13) Payet further reduced the arrears after collecting a back pass by Moussa Sissoko one minute into stoppage time.
  • (14) Some 72 of its tenants who owe rent had never been in arrears before.
  • (15) Staff will be paid their arrears of wages and salaries, and will continue to be paid for their work during the administration.” The administration only involves Brantano (UK) Limited, the UK arm of the brand.
  • (16) In its latest analysis of the Irish property market at the start of 2014, the ratings agency Fitch said one in five houses where mortgages had been in arrears for three months or more was likely to be repossessed.
  • (17) Staff here dread the welfare reform bill, waiting for debts, arrears, evictions and pitiful hardship to wash up on their doorstep.
  • (18) There is a shortage of one bedroom flats in many parts of the region, with sharp competition between individuals trying to move on from supported housing, and those faced with having to downsize to avoid the bedroom tax or risk falling into arrears.
  • (19) Now back at work, the resident’s arrears have been reduced by almost £900.
  • (20) Step four: Deal with your landlord If you have fallen behind with your rent, speak to your landlord about paying off the arrears.

Default


Definition:

  • (n.) A failing or failure; omission of that which ought to be done; neglect to do what duty or law requires; as, this evil has happened through the governor's default.
  • (n.) Fault; offense; ill deed; wrong act; failure in virtue or wisdom.
  • (n.) A neglect of, or failure to take, some step necessary to secure the benefit of law, as a failure to appear in court at a day assigned, especially of the defendant in a suit when called to make answer; also of jurors, witnesses, etc.
  • (v. i.) To fail in duty; to offend.
  • (v. i.) To fail in fulfilling a contract, agreement, or duty.
  • (v. i.) To fail to appear in court; to let a case go by default.
  • (v. t.) To fail to perform or pay; to be guilty of neglect of; to omit; as, to default a dividend.
  • (v. t.) To call a defendant or other party whose duty it is to be present in court, and make entry of his default, if he fails to appear; to enter a default against.
  • (v. t.) To leave out of account; to omit.

Example Sentences:

  • (1) And, according to a letter leaked to the BBC last week , he reckons he has found one: default-on.
  • (2) It’s unclear too whether Google will continue to pay Mozilla to be the default browser in countries outside the US, Russia and China when the current deal ends in December.
  • (3) Difficulties in their management are attributable to late presentation, high patient default rate, complete lack of radiotherapy, and shortage of chemotherapeutic agents.
  • (4) Francis dismissed the suggestion that changing the fine defaulting policy would significantly reduce the prisoner population, saying defaulters made up less than 0.4% of the total prison population, both male and female.
  • (5) "The default switch should be set to release information unless there is an extremely good reason for withholding it.".
  • (6) Couldn't the rest of the eurozone just let Greece default on its debts?
  • (7) One way they are doing this is to replace cookies, which worked fairly well for a long time when people accepted their browsers' default configuration, which until fairly recently has been to allow most cookies.
  • (8) Two patients defaulted (1 on each treatment) and 7 patients died during the study from non-drug-related causes.
  • (9) It’s a damp squib, a bit of a nothing result,” a leading energy analyst said of a report that is widely expected to endorse provisional findings released in March , and recommend price controls on prepayment meters and setting up a customer database to help rival suppliers target customers stuck on expensive default tariffs.
  • (10) The bulk flow model of intracellular trafficking predicts that forward transport from the ER through the Golgi to the plasma membrane proceeds by default without a special signal being required (Wieland, F.T., Gleason, M. L., Serafini, T. A., and Rothman, J. E. (1987) Cell 50, 289-300).
  • (11) Brazil GDP growth There is no immediate risk of a default.
  • (12) According to their study, the market consistently expects default to occur if a country's debt reaches twice its GDP.
  • (13) Things only got worse in 1998 when Russia defaulted on its loans: the people of this area once again lost what little they had saved, and the oligarchs just got richer, in yet more deals that Russians perceived, with some justification, to have been brokered by the west.
  • (14) As City analysts warned that a "Grexit" was growing more likely by the day, the cost of insuring Spanish debt against default rose.
  • (15) It results in porn becoming, by default, sex education.” The site originally debunked porn myths but she later launched a streaming service, where couples could upload their sex tapes.
  • (16) That was what triggered the bank closures and capital controls, which have taken Greece’s crisis to a new level this week as it became the first developed country to default on an IMF loan.
  • (17) Slowing growth, financial fragility, governments teetering on the brink of insolvency and default, and clear signs of a public backlash against the excesses of the rich and powerful: all have created a sombre backdrop to the invitation-only affair.
  • (18) "If ratings agencies see a rollover [of Greek debt] as a partial default, contagion to other peripheral eurozone countries will occur."
  • (19) Or will it slip inexorably into the unchartered waters of default and economic catastrophe?
  • (20) The program runs in accelerated time, and accepts defaults to continue without changes as long as desired.

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