"Default rates" refer to the percentage of borrowers who fail to repay their loans according to the agreed terms. It shows the number of people who default or do not fulfill their financial obligations. Full definition
This massive increase in default rate of loans affected all the parties involved. (gokinfo.com)
Another reason why payday loan companies charge hefty fees is the comparatively high default rate for payday loans. (investing-tools.com)
That is cause for some concern given the high default rates on loans issued those years that are still working their way through the system. (nreionline.com)