noun
- instances of failing to pay money that is owed
Usage: plural form of nonpayment
Examples
- The bank reported several nonpayments on mortgage loans this quarter.
- Nonpayments of rent have increased during the economic downturn.
- The company’s credit rating dropped due to multiple nonpayments to suppliers.
- Insurance policies may be canceled for nonpayments of premiums.
- The landlord filed eviction notices for tenants with repeated nonpayments.
- Credit card companies charge fees for nonpayments of minimum amounts.