Default Notice - Min period before DN can be registered?

[kconroy]

Hi,

 

Does anyone know how long after a creditor send a Default Notice do they have to wait before they can register the Default with the CRA's?

 

Thanks.

[renegadeimp]

Guidance says within 6 months of the cause of default. Although it's just guidance and creditors do put it on a debtors file months after they should. If they do this, then the debtor must challenge it as unfair.

[kconroy]

Thanks for the fast reply renegadeimp.

 

I received a Default Notice on 11th October 2011. A default was registered 22 days later on 2nd November 2011.

 

The default relates to non-payments, the first of which being for May 2011. Does that mean that the default should have been registered before or during October, and can they register a default just 22 days after sending the notice?

[renegadeimp]

The default notice usually sets out a timeframe in which you must recitfy the debt or at least pay the arrears. This is usually 24-48 days, after which they reserve the right to put the default on your file. From your info, it sounds like they have followed procedure, so trying to remove the default will be very hard. However, if you have the funds to make a F&F settlement, you can make it a condition of the offer that ALL negative date, or the entry itself is removed from the file. Chances are they will say no, but it's worth a shot.

[dx100uk]

dn is 14 WORKING days to rectify the outstanding balance..

 

if a creditor puts 'markers on your CRa file

there is no requirement for any DN to mark your file

 

there is also no rules that dictate they MUST send you a DN either as such.

 

dx