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Legal process to correctly register default with CRA's


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Hi,

 

Can anybody tell me what process a creditor has to follow in order to place a default with the CRA's?

 

A little bit of background about why I want to know.

 

I have a couple of payday loans that I have know have arrangements in place to repay. One of the the is threatening to place a default on my credit file if not paid by a certain date. So I increased my offer to make sure balance is cleared before that date. I suspect this is just an empty threat. But don't want to risk a default.

 

It's my understanding that they have to write to me and give me 14 days to pay what is owed before they place a default on my files with CRA's, can somebody confirm this for me?

 

Thanks in advance

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