Default status
Debt, arrears & collectionsAn account status showing a lender has formally defaulted the account.
Overview
Default status is a serious negative marker on your report.
It usually follows sustained missed payments.
Why it matters
- It affects credit score and eligibility.
- It can remain for years.
- It signals high risk to lenders.
FAQs
Can a default status be removed?
Only if it is incorrect or set aside.
Does paying remove default status?
No, but it changes the status to settled or satisfied.
Related terms
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