The most common term for failing to pay a debt according to the agreed-upon terms is default.
Arrears. Arrears is a debt or payment that is not paid by the due date. It is another term for missed payments.
insolvency. Generally speaking, insolvency refers to situations where a debtor cannot pay the debts they owe. For instance, a troubled company may become insolvent when it is unable to repay its creditors money owed on time, often leading to a bankruptcy filing.
arrears balance due indebtedness liability obligation outstanding debt unpaid bill.
Default is failure to repay a loan according to the terms agreed to in the promissory note. For most federal student loans, you will default if you have not made a payment in more than 270 days. You may experience serious legal consequences if you default.
belated delinquent outstanding tardy unpaid. WEAK. behind time behindhand due held up hung up jammed long-delayed mature not punctual owing payable unpunctual unsettled.
Deadbeats don't pay their bills. This is an insult that is very specific: deadbeats don't pay what they owe. If someone went to a restaurant and didn't pay, the manager might say "You deadbeat!" If you don't pay a cable or phone bill, you're a deadbeat. A roommate who doesn't pay their share of the rent is a deadbeat.
Bankrupt is used for a person who is unable to repay his/her debts. We observe that the meaning of bankrupt matches the description in the given sentence.
Also called economic burden, economic hardship, financial distress, financial hardship, financial stress, and financial toxicity.
Alternatively, you could say "I am not in a good position financially" or "I am not very comfortable financially".
hard try; fight to win. attempt battle clash combat conflict contest effort encounter endeavor skirmish strife trial work. STRONG.
Synonyms
arrears balance due indebtedness liability obligation outstanding debt unpaid debt. NOUN. arrears.
Definitions of indebtedness. noun. an obligation to pay money to another party. synonyms: financial obligation, liability.
lack of success. bankruptcy breakdown collapse decline defeat deficiency deterioration failing loss misstep.
synonyms: compensate, make up, pay. settle. dispose of; make a financial settlement. verb.
superior, excellent. distinguished dominant eminent excellent exceptional famous great important impressive magnificent phenomenal preeminent special stellar superior superlative well-known.
Insolvency. In accounting, insolvency is the state of being unable to pay the debts, by a person or company (debtor), at maturity; those in a state of insolvency are said to be insolvent.