Glossary

Welcome to our glossary section.

If you're looking for the definition of a particular finance term or phrase, you can look it up here in our loans glossary. If the term or phrase you're looking for isn't listed, please let us know and we'll make sure it gets included.

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Default

A default is a term used to describe a situation where the consumer has missed a repayment on a loan or any other type of credit commitment.

Loan Shopping advice and information:

Loan Shopping Guide Managing your Loan Personal Loan Alternatives - Credit Cards Useful Contacts

Loan Insurance, Penalties and Charges:

Redemption Penalties Credit Repair Guide Payment Protection Insurance (PPI) Arrears, Defaults and County Court Judgements (CCJ's)