Default interest

Default interest

A higher interest rate payable after default.

Default Interest

The higher interest that a borrower must pay after default. If a borrower defaults on a loan, he/she must pay default interest in order to compensate a lender for the added risk of extending credit to him/her.
References in periodicals archive ?
We also obtained a waiver for all default interest and late fees and were able to reduce the modification fee by 50%.
The Committee of Ministers of the Council of Europe has asked Turkey to pay compensation awarded by the European Court of Human Rights to applicants from Cyprus "without further delay" and with "the default interest due".
In April 2016, through the strongest support ever to be given to VMRO-DPMNE, the people will show to those indolent manipulators that they no longer fall for the intrigues and manipulations largely masterminded by the actors of the transition of the 1990s, by failed and corrupt former ministers and directors, and will punish instead these attempts, also charging, to put it in economic terms, a default interest for all the anxiety and damage that these people have inflicted to the whole country pursuing their own interests and careers.
It is in this context that they also see the rally of VMRO-DPMNE in Bitola on Saturday, at which leader Nikola Gruevski said that all those involved in the endeavor to destabilize Macedonia will pay a price with a default interest rate.
03 M in payments under deferred payment schemes and penalties and payments related to lawsuits and enforcement proceedings for penalties and default interest.
Implement swift reminders and charge default interest when possible
Fehr of Fehr Law Office PLLC in Chelan, is seeking to 0e paid, either By Burnett or Crose and is asking for the full amount, plus 15-percent default interest after Jan.
THE professional rugby regions would incur default interest charges if they fail to repay new loans from the Welsh Rugby Union - after the board of European Rugby Cup Ltd unanimously voted to withhold European tournament payments last month.
The bank initiated enforcement proceedings, using clauses giving it the possibility to recover the full debt and annual default interest of 18.
4m mortgage loan secured by the property and the accrued contractual and default interest on the mortgage loan.
30, default interest continues to accrue at a rate of $392.
Investor purchase a senior debt with a face value of $5 million and accrued default interest of $1 million, for a purchase price of $4 million.