Commercial defaults and judgements can also affect your ability to obtain finance.
If you have signed personal guarantees or are a director of a company or a commercial entity, you may also be subject to negative credit listings on your personal or company credit report. This can affect your ability to obtain finance both personally and via your commercial entity.
Commercial defaults are more difficult and complex to remove and hence, require expert knowledge and negotiations. Commercial defaults can only be removed if there was a genuine dispute in relation to the account at the time of the default listing.
Unfortunately, when it comes to commercial defaults, creditors do not have the same stringent legislative requirements to fulfill before listing an infringement against you or your commercial entity.
This is a complex area of law and requires the attention of qualified lawyers to achieve success
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