A default is recorded on your credit file if your payment of $150 or more is overdue by 60 days or more.
Your credit provider must send you written notice to recover the payment and written notice that it intends to list a default on your credit file before listing the default.
If you are in financial difficulty and are at risk of not making a payment, contact your credit provider as soon as possible and request hardship assistance.
If a default has been recorded and you have since repaid the amount in full, that payment will be noted on your credit file.
A default is kept on your credit file for five years, even after the amount has been repaid.