Arrears notice
Your creditor will send you an arrears notice when you don’t pay the amount that you originally agreed to. It normally says that you’ve missed your payment and ask you to pay the arrears immediately.
Arrears notices are normally automated letters sent out by the creditor's computer system.
You may get several arrears notices from the creditor until they decide to send you a default notice.
Default notice
When you’re not making your contractual payments, and you haven’t paid the arrears, you’ll normally receive a default notice. This is a legal document that creditors have to send to you if they want to take further action. It will tell you how much you need to pay to stop the credit agreement ending.
If you don’t make the payment they’ve asked for the creditor will cancel your credit agreement. At this point, you’re in default and the creditor can register this on your credit file.
If you receive a default notice, you should explain to the creditor that you’re unable to pay the amount requested and you will continue to pay them through your DMP.
Once your credit agreement has ended your creditor can legally pass or sell your debt onto a collection agency.