Meaning:
“老” literally means “old,” and “赖” is short for “赖账,” which means to “repudiate a debt.” This term, used as a noun, refers to those who refuse to pay their long overdue debts, especially when they can afford to pay back. Legally and in formal situations they are called discredited debtors.
Example:
A: 老李不是常常说他要出门旅行，怎么从来没见他行动啊？
Lǎolǐ bùshì chángcháng shuō tā yào chūmén lǚxíng, zěnme cónglái dōu méi jiàn tā xíngdòng a?
Lao Li is always talking about his plans to go traveling. Why is he never actually doing it?
B: 因为他是老赖，上了黑名单，被限制买机票和高铁票。
Yīnwèi tā shì lǎolài, shàng le hēimíngdān, bèi xiànzhì mǎi jīpiào hé gāotiě piào。
Because he is one of the discredited debtors whose names and IDs are published. They are restricted from buying air tickets and high-speed train tickets.
(First editor: Debra Li)