What is a default?
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 time-frame 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 this is a small amount of cases.
We do not charge any fees unless we can get the default removed, part of the payment is payable when a credit provider writes back to us further to our written negotiations regarding the validity of the default stating that they agree to remove the default and have requested it to be deleted from the credit reporting files (in around week 1 to week 6 of our work) and then the remainder of our fee is due when we show you the updated credit report showing that the default is deleted around 2 weeks after.
Our fees start at $1500 per default removal, and we also have payment plans available from 6 months up to 24 months, making credit repair stress-free for you and your family.
Our team of experts have completed 1000’s of successful removals.
All legal advice is given by our partner law firm, Credit Fix Lawyers.