He is also being sued by Duke's credit union for $6,400 in defaulted loans.

He saw an ad in the newspaper about buying defaulted loans from the federal government.

In addition, the company owns $1 billion of commercial real estate that it acquired from defaulted loans.

The Federal agency sold the defaulted loan in 1993 at a loss to taxpayers of $23.3 million.

It goes to cover the cost of defaulted loans.

Compromise The settlement of a claim resulting from a defaulted loan for less than the full amount due.

The student loan program we have today costs you $3 billion in defaulted loans.

Nearly half that, $1.6 billion, will go to cover defaulted loans, Federal officials estimate.

There are other negative consequences resulting from a defaulted loan.

Deals can also include agreements to advance principal and interest or to buy back any defaulted loans.