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Does a default affect my Personal Credit File?

  • Updated

When the borrower is a limited company, it's reassuring to know that any loan default won't have any bearing on your Personal Credit file. However, it's prudent to be aware that involving legal measures such as obtaining a court judgement or bankruptcy order might impact your Personal Credit file.

Conversely, when the borrower isn't a limited company, it's noteworthy that any loan default will be communicated to Credit Reference Agencies. This could potentially influence your Personal Credit file. We recognize the significance of upholding a robust credit score and underscore the importance of reaching out to us without delay if you encounter challenges in meeting your loan commitments.

Rest assured, we're here to extend a helping hand and collaborate on devising a resolution that ensures you remain in control of your financial responsibilities. Your financial well-being remains at the forefront of our priorities, and we're dedicated to guiding you toward a solution that aligns with your goals. Feel free to engage with us at your earliest convenience – we're fully committed to your financial success and peace of mind.

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