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by Daniel201 on 12th July 2010
Hello,
The lender I applied to told me I couldnt have the amount I wanted because they did a credit check and I have a default. I dont know how this got on there, I dont really know what a default is. Can you help?
Thanks, Daniel
by Candice Gallab answered on 12th July 2010
A default notice is simply a record put on your credit file by a creditor to say that a payment has not been made, or has not been made in full. Basically, you've defaulted on something that was agreed to.
Creditors can add defaults without telling you and sometimes even if a payment has been made, so it's a good idea to keep an eye on your credit record.
Having a default may restrict the amount you're able to borrow or the interest rate you're offered, but even if you've had a default notice, we can still help you. If you haven't already told us about your default, all you need to do is Log In and go to 'My Account' and update this information. We'll start a new search and find a lender that we believe will help you.
It's good to be aware that a default notice cannot be removed from your credit file without the consent of the creditor first. There's a few tips on the internet about getting a default removed from your credit file, but it's not always successful. Here's some that might help:
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