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alexs299
alexs299 Posts: 8 Forumite
in Credit cards
Hi, although i have been trying to look i couldnt find a proper explanation on what happens & what is affected when a default occurs on your account. all i know is that it stays on your credit file for six years, but wt else is there???

Thank you

Comments

  • cifpower
    cifpower Posts: 6,502 Forumite
    It seriously damages your credit rating and makes lenders very wary of extending credit facilities to you
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