Within what time frame is one required to settle a tax debt with the ATO?
March 19, 2025What Does a Credit Default Actually Mean?
March 20, 2025If you receive a default notice, don’t panic! Here are some steps to take:
A creditor default notice may or may not have listed a credit default on your credit file. However, check carefully.
- Read the notice carefully – Check all details including the amount and creditor
- Contact the creditor – Try to negotiate payment arrangements
- Seek financial advice – A financial counsellor can help with options
- Consider a payment plan – Work out what you can afford to pay
- Keep records – Document all communications with the creditor
Getting help early can prevent the default from being listed on your credit report.