Will Kenton is an expert on the economy and investing laws and regulations. He previously held senior editorial roles at Investopedia and Kapitall Wire and holds a MA in Economics from The New School ...

Julia Kagan is a financial/consumer journalist and former senior editor, personal finance, of Investopedia. The default rate is the percentage of outstanding loans a lender writes off as unpaid after ...

Defaulting on a loan significantly lowers your credit score and often requires full repayment. Contacting the lender can lead to adjusted repayment terms, helping avoid severe penalties. Federal ...