Debt Default Posted on 7th November 201523rd July 2021 by ThePD (The Project Definition) Debt Default is failure to meet a debt obligation payment, either principal or interest at the time it is due. Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)Click to share on LinkedIn (Opens in new window) Related Posted in Business and tagged commercial. ThePD (The Project Definition) ThePD has been developing the Preferred Project Definitions based on the actual project execution and operation experiences and knowledge with the Project Language, and sharing with you daily basis.