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Default occurs when a borrower fails to make a scheduled payment of either principal or interest. a borrower seeks court protection from its creditors following
Default occurs when a borrower fails to make a scheduled payment of either principal or interest. a borrower seeks court protection from its creditors following a missed payment. a borrower is having difficulty generating enough cash to make the scheduled payments of principal and interest the value of a firm's assets is less than the present value of the payments that it owes to its creditors
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