defaulter:
(plural: ‘defaulters‘)
Sania Mirza, Indian tennis star, alleged defaulter (for not paying bills to the police department for providing security) — Daily Times
a person who fails to fulfill or carry out a contract, agreement or duty, especially who fails to pay a debt, fails to appear in a court of law even when the court orders him/her to appear;
a person or team who fails to take part in or finish a competition;
(in British English usage) a person, mostly a soldier, who breaks or has broken a rule or code of conduct,
H R H King Gyanendra of Nepal, alleged power bill defaulter (for not paying electricity bills to the board) — Daily Times
Mathew was arrested and put in jail and became a defaulter for the second time… the first one was for not paying his bank loan and the second one for not honouring the court summons!
Though a defaulter is bound to face criminal charges in some serious cases, especially where there is a lot of money involved, he/she has some rights, and in most cases, the court asks the lending party to grant more time for recovery so that the unfortunate defaulter may pay back.
It is surprising to note that very wealthy people and law makers are the worst defaulters in our present society.
