The company faced default on its loans.

A failure to fulfill a financial obligation or repay a debt.
Investors worried about the risk of default.
The bank reported a rise in default rates.
He was concerned about the possibility of default.
loan default
default risk
default notice
failure
nonpayment
breach
If you don't choose a plan, you will go with the default.

A situation that occurs when no action is taken or no choice is made.
If you don't make a decision, you'll end up with the default option.
Choosing nothing means you accept the default setting.
Without a selection, the system will revert to the default.
default setting
default option
default choice
standard
norm
fallback