Default Notices

[learning]

Does a default notice affect your credit rating?

[Gok Wan]

Of course it does - and not in a good way either.

[Madison68]

Definitely!

[Lorzy Lor]

Sub prime lenders ignore them.

Defaults are easy to get rid of, if you have settled the debt that the default relates to without any kind of recovery action taken against you. Simply write to the lender concerned, explain how it is holding you back and ask them if they will consent to its removal.

They usually say yes and you send copies of their letter to Equifax and Experian, who will then remove it from your file.

If all else fails, they stay on your file for 6 years.

Good luck

[Oneeyedvic]

Actually it very much depends on who the company is and whether or not they subscribe to a credit reference agency.

As an example, if you didn't pay your council tax, you would be issued with a default notice but this would not be recorded on your credit file.

Best thing to do is get a copy of your credit files from each of the three companies:
www.experian.co.uk www.equifax.co.uk and www.callcredit.co.uk

[minuteman]

Yes, in many cases it is seen as being worse than a CCJ, which could simply arise over a legal dispute. A Default notice tells a potential lender that you have reneged on a previous financial agreement.