Covid 19 Status

In line with HM Government requirements to fight the spread of Covid-19 we have measures in place to ensure that we protect our staff, their families and the wider community, but also to ensure that there is minimal disruption to our customers.

Your access to online Multi Agency Credit Reports, Expert Help and Account Management remains unaffected. We take great pride in the support that we provide to our customers and throughout this period will do all we can to minimise the impact on our services. While the country remains in lockdown we will continue to support your queries via a dedicated and experienced team that will be securely working from home, and supported by a Management Team that will continue to be based at our head office and who will be able to provide customer support as required.

The security measures that we have in place to protect your Personal Data, in line with our Privacy Policy, will mean that some elements of our personalised support are affected during this period as our support team will be working with anonymised data when working remotely. Freephone access to our Credit Analysts has been removed during this period while we focus our efforts on continuing to reply to all of your emails and secure messages within one working day.

Thanks for your understanding, and we hope to have full customer support available as soon as possible and wish you well during these challenging times.

CREDIT REPORT SERVICES AND ONLINE EXPERT HELP ARE FULLY OPERATIONAL - PHONE LINES ARE CLOSEDCOVID-19 STATUS

ONLINE SERVICES FULLY OPERATIONAL
PHONE LINES ARE CLOSEDCOVID-19 STATUS

Notice Of Default

What is a Notice of Default?

A Notice of Default is a formal letter from a lender sent when you fall into arrears. The notice sets out the arrears and what you have to do to put things right within 14 days of receipt of the letter.

Failure to respond to a Notice of Default results in an automatic default, which appears on your credit file for six years, irrespective of whether you subsequently pay the account in part or in full.

The notice is required before creditor (lender) can take any of the following five actions:

  • Terminate the agreement
  • Repossess goods or land
  • Demand earlier payment of sums due under the agreement
  • Treat as restricted
  • Terminate or defer any of the debtor’s rights under the agreement and enforce a security

It applies to all types of breach of a regulated agreement, not just default in payment and is only applicable where the creditor intends to take one of the five types of action. A simple reminder not threatening one of these actions is not a Default Notice and not governed by Consumer Credit Act 1974.


Q: How does it affect my credit rating?

A: A notice of default will not appear on your credit report, but the default itself will if you do not pay off the outstanding amount within the 14 day period. Defaults can be damaging to your credit rating and seriously affect your ability to get credit.

Q: What happens after receiving a Notice of Default?

A: If the amount is not settled within the specified time, you will be issued a default.

Jargon Buster

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