How Can You Check Your Credit Report for Defaults?
March 20, 2025How Long Do Defaults Stay on Your Australian Credit Report?
March 20, 2025A default can have several consequences:
| Impact | What It Means For You |
|---|---|
| Lower credit score | Makes borrowing more difficult |
| Higher interest rates | More expensive loans if approved |
| Loan rejections | Banks may decline your applications |
| Utility connection issues | May need to pay deposits for services |
| Rental application problems | Landlords may reject your application |
These effects can last for years, so addressing defaults promptly is important.