English translation: give immediate notice of default
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the making of a default [as regards the delinquent purchaser]
Explanation: I obtained this from a lawyer whose guidance I trust, who stressed the use of "making" - in other words, the creditor has the option not to formally declare the purchaser in default, with all the repercussions that would have as to his credit rating etc. He can tolerate the delay in payment for awhile if he wishes.
Donna Sandin United States Local time: 09:43 Specializes in field Native speaker of: English PRO pts in category: 260