You might find that you have a default listed on your credit file. 
Once a default has been listed on your credit file, it won’t be removed by paying back the debt. Defaults will stay on your credit history for up to five years, whether they have been paid.
 
Once you have a default on your credit history, it can cause you a lot of issues when applying for finance. This difficulty can increase with each additional default that appears on your credit file.
 
You can only get a default removed from your file when a mistake has been made. These can be quite common, so it’s important to check your credit score to ensure no black marks have crept into your file.