What is a default listing?
Default listing is the term used to describe the action where a creditor lists you as a default payer if you continuously defy your repayment terms to the creditor and this is registered on the database of the Credit Bureau.
This listing made by the creditor will reflect and remain on your credit report of that year and possibly the next, until the account is up to date outstanding debt settled.
Types of default listings:
- Enforcement default listing: This default listing refers to action being taken by the creditor which will include implementation of a certain process or procedure to get the desired outcome that will suit them. This can include writing off bad debt by the creditor or handing the case over which will lead to a judgement against your name or court summons.
- Subjective default listing: This default listing refers to the creditor that give the Bureau a summary of collective information on you as the debtor which includes actions that you did such as late payments, missed payments, and the creditor not being able to get in contact with you.
What impact does a default listing have on my credit report?
As discussed above, the default listing will remain on your credit report until the account is settled and, in that period, where the listing remains on your report you will not be able to take out any further credit and your credit score will be extremely low. This can cause distress.
How can I remove a default listing from my name?
To answer the questions stated above, yes, you can get a default listing removed. Our expert team at NDCSA can assist you with this default listing removal process.
We provide you with information on your current credit report that we extract, and our specialists will discuss all the default listings with you which currently reflects on your credit report.
We will assist you with advice on getting these accounts up to date and we will negotiate with the creditor to get the default listing remove from the database at the Credit Bureau.
Contact us at NDCSA for assistance and more information regarding default listings on your name and we will provide you with our excellent services to ensure you get your credit record up to date and to assist you with living your life without the stress of these default listings against your name.