Hi Matt,

Firstly I recommend if you have not already, go to Veda Advantage http://www.mycreditfile.com.au/ and order a copy of your credit file.
You can get a free copy, but you can't do that online. If you have trouble downloading the application form, send me a message and I will locate it for you.

Once you have that you can either apply to the company that defaulted you to remove the default. Or if it is a minor thing with a Telco you may still be able to obtain finance by revealing it up front. (That is assuming it has been paid)

Finally, I suggest that you contact a mortgage broker, He or She will be able to assess the default at a personal level and advise the appropriate course of action.

Cheers
Steve