What is a default?
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A defaulted account, or a default notice, is an account entry on your credit report that shows you have failed to keep to your credit agreement in some way. Usually by going several months in arrears.
A defaulted account will be clearly marked as one on your credit report.
Your credit report will tell you the company, the date of the default, the default balance and the current balance. If the debt has since been paid, then it will be marked as Balance Satisfied.
The terms of your credit agreement should state the conditions in which a default will be applied.
You cannot have a default notice removed without the consent of the company who placed it.
Credit Report
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