Receiving a default credit notice or default listing, and accessing a credit report and credit scores 

A default credit notice is a formal warning issued by a creditor after multiple missed payments. It means that you must repay the outstanding amount by the due date, or risk having a default listing added to your credit file. This default listing can seriously affect your business’s financial reputation. However, you can take proactive steps to avoid this outcome – such as negotiating a payment plan with your creditor.

A default listing can significantly lower your credit score, making it more difficult to qualify for loans, credit cards, or other financial products. Once the default listing has been made, only incorrect details can be corrected – accurate information cannot be changed or removed.

Credit scores and credit reports are administered by credit reporting bodies. They collect and maintain credit related information, which is then used to make the credit report and scores.

Moneysmart.gov.au is a helpful website that offers tips, tools and guidance for all Australians. Their website has information about:

Further support

You are not on your own. If you are experiencing difficulty, you can access the following resources:

We may also be able to help you – or point you to someone who can help. Contact us by calling our information line on 1300 650 460 or by completing an online form.