What is a Defaults?
A default is an overdue ‘black mark’ that is recorded on our credit reports when we become seriously overdue with a debt to a credit provider.
As long as a credit provider has followed the legislation correctly, they can list a default on our credit report, which stays on our reports for 5 years.
If you pay a debt after a credit provider has listed a default, they do not have to remove it because it is now paid.
They will simply ‘update’ the default as ‘paid’ on the credit report but the listing will still remain for the 5 year period.
That’s 5 years from the date it was listed on your report, not the date that you paid it after the default was listed.
Default Removal Services
We can remove unfair default listings from your credit report.
The timeframe to negotiate default removals is around 4 to 8 weeks, depending on the credit provider who has listed the default. Ask about our ‘Fast-Track’ option, which may be available depending on the type of default. Some complex cases can take up to 12 weeks, but these are a small number of cases.
We do not charge any fees unless we successfully remove the default. Part of the payment is due when a credit provider agrees to remove the default and requests its deletion from the credit reporting files (typically around week 1 to week 6 of our work). The remainder of our fee is due when we provide you with the updated credit report showing that the default has been deleted, approximately 2 weeks later.
Default removal fees start at $1650. Payment plans are not available.
Our team of experts has completed thousands of successful removals.
All legal advice is provided by our partner law firm, Credit Fix Lawyers.