What is a payment default?
A payment default is a black mark on a credit report that indicates a business does not pay their bills. It can stay on a credit report for up to five years, affecting the business's credit score and also generates an alert to other businesses of their failure to repay a debt.
What will it do?
Registering a default on our bad debt register is a great way to prompt a slow or non-paying customer to pay their outstanding debts out of fear of ruining their credit file and deterring other suppliers