How long does a default stay on my credit report?

A default will stay on your credit report for six years, from the date of default,- even if you pay off the debt. However, it is still important to make an arrangement to clear a default as soon as you can, to prevent further collections activity or stop further action being taken against you to recover the debt. Paying off a default quickly may also be taken into consideration by creditors when applying for credit in the future.