IVA Articles
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IVA : What Is A Default Notice?
A default notice is a formal letter issued on be half of a creditor to a borrower. A default notice declares that predetermined payments have not been paid and are now in arrears.
A default notice sets out the amount in arrears and gives a deadline to continue repayments. A default notice is usually issued when repayments are in arrears by 3 to 6 months. A default notice will stay on a credit record for 6 years from the date of issue.
If you are struggling with serious debt problems and would like to speak to on of our specialist advisers call 0800 088 7503 or visit myIVA-Adviser.com and download one of our free guides designed to help you get out of debt.
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