What does default mean?

Updated 1 month ago

Defaults are applied to accounts after a certain number of payments have been missed, or if you become insolvent. Credit card accounts are defaulted after 6 missed payments, loan accounts after 4 and for car finance accounts, it’s 3.

Default results in your contract being terminated, as the terms were not being met, and your full balance becoming due for repayment. If it looks like you might be heading for default, we’ll send you a notification 30 days before.

It’s important to note that defaults are visible on your credit file for six years and can make it harder to obtain credit in future. If you think you might default, it’s best to get in contact with us as soon as possible so we can work with you to find a solution.

Free impartial financial advice is on hand

There are not-for-profit organisations you can contact for financial advice. The two below are impartial, confidential and free.


0800 280 2816

Monday to Friday 8am-8pm or Saturday 9am-3pm.


0800 138 1111

Monday to Friday 8am-8pm or Saturday 8am-4pm.

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