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Corporate payment default

Your company will get a payment default entry if it fails to pay its invoices despite receiving payment reminders and demands for payment. A payment default entry will damage your company's reputation and make its operations more difficult. The payment default entry is usually kept in the credit information register for between three and four years, while a bankruptcy entry will be kept there for five years. For corporate reorganisations and business prohibitions, the length of time depends on the case.

Text edited by: editorial team
Updated: 3/5/2020