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Does a default affect my Personal Credit file?


  • If the borrower is a limited company, the default will not affect your Personal Credit file. The default will only be registered on the credit file of the business in accordance with FCA guidelines
  • However, your Personal Credit file will be affected if the defaulted loan is not repaid according to the guarantee terms - leaving us with no choice but to obtain a court judgment or bankruptcy order.
  • If the borrower is not a limited company, the default will be reported to Credit Reference Agencies and this will have an effect on your Personal Credit file.
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