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Does this count as a default
sortingthisout2023
Posts: 6 Forumite
Hi, I am waiting to start my DMP. Waiting for the defaults to come through. Logged on to clear score this afternoon - would this missed payment count as a default (in purple), just trying to work out what has defaulted or not. Many thanks! 0
Comments
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No it will clearly state "in default" instead of "in arrears" when it has actaally defaulted. Lenders tend to default after 3-6 missed payments, but some of them can be very difficult about defaulting accounts which can be incredibly frustrating.
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As above, your in arrears, when it defaults, it will clearly state "Default" and give the date it defaulted as well.
It will look something like this -OVERVIEW
Account type - Unsecured Loan
Status - Default
PAYMENT INFORMATION
Opening balance - £1,851
Repayment frequency - Weekly
Date of default - 27 Dec 2019
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This is what it looks like - it states "In Default"
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Ah brilliant thanks everyone for the information - appreciate the help0
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