Notice of Default - Creditor Default Notices

  • A Notice of Default is also known as a Default Notice.

It is issued by a creditor that usually is demanding late payment on an account and this default notice forms part of the creditors legal collection procedure.

A creditor is required to send a default notice to the debtor by law, prior to commencement of legal proceedings to secure the remaining balance outstanding.

Why would I have received a Default Notice or Notice of Default?

  • Missed or late payments on credit accounts
  • Failure to adhere to an agreed repayment plan
  • Ignoring a lender chasing an outstanding debt

If a lender issues a Notice of Default against you, they should also by law update your credit file which is available for other lenders to see when you make applications for further credit.

Once a default is registered on your credit file it would usually remain there for a period of 6 years.

If you need further information regarding debt consolidation help or advice about how to clear personal debts, call our debt helpline today in total confidence using 0800 018 6868.

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