The default notice letter will advise what action you should take before your account has defaulted, in order to prevent any further action from being taken. The letter states that you have 14 days to repay the debt you owe before a default is added to your credit file.
It can also be called a notice of demand or a default letter. What is a default notice?Ī default notice is a formal letter sent by creditors when you have missed a number of payments to them. In this guide we’ll explore default notices what they are, the type of debts that might see you earn a default notice, and where you can get the debt advice you need to build up a positive payment history and get your finances back on track. When you continually miss payments to creditors, however, you may face a default notice, which can harm your creditor rating and even cause debt collectors to come to your door. It can be hard to keep track of all your incomings and outgoings at times, which can cause you to miss payments.
