Key highlights
- A paid default shows the matter was resolved
- Many lenders treat a paid listing more favourably than an unpaid one
- Lenders may ask the reason and how you've traded since
- Appetite for paid defaults differs across 80+ lenders
- Request an obligation-free, indicative quote for your file
If you have cleared a past default, you are in a stronger position than many applicants assume. A paid listing signals that a matter has been resolved, and several lenders factor that in. Overdrive helps ABN businesses find financiers who look beyond a single event.
Do paid defaults look better than unpaid?
A default marked as paid stays on your file for a set period, but it demonstrates that the debt was settled. Many lenders treat a paid default more favourably than one left outstanding, though outcomes remain subject to lender criteria.
What context do lenders consider?
Lenders may still ask about the reason for the default, how long ago it was listed and how your business has traded since. A vehicle that supports your income and a steady recent history can strengthen an application considerably.
Which lenders accept paid defaults?
With more than 80 lenders on panel, appetite for paid defaults differs widely. Simon Kendrick identifies which financiers are comfortable with your profile, so your application goes to the right desk the first time.
How do you get an indicative view?
Every file is different. Request an obligation-free, indicative quote and Overdrive will assess how your paid default sits with lenders and what options may be available to you.
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