How to fix my Credit Rating / Fix my Credit File

Bad Credit Repair Australia

Credit repair can be done by your self or with the assistance of a professional.

Naturally someone who effectively does this for a living is going to be better than the average individual. Note how we mention “effectively” as there are some who only claim the ability to carry out credit repair.

If your credit file is important to you and you want the best possible chance at obtaining a clear credit file, here are some of the things that an established credit repairer will know and have, that you will have to find if you want to try your self.

A clear and current understanding of all relevant legislation and industry guidelines. You must be up to date on what can and can’t be done in the industry by creditors, credit repairers, credit reporting agencies and third parties.

An objective approach where no “personal” attitudes or opinions are expressed is essential. Once personal becomes involved the quality of any work deteriorates dramatically. Professionals have the edge on the individual in this respect because they are not emotionally tied.

A proper understanding of the law when it comes to removing court actions or writs from a credit file. Every state court system has its own systems, forms, procedures and guidelines. If done incorrectly you can be waiting months for the errors to be corrected and resubmitted.

Practical experience when dealing with creditors can never be substituted by research alone. Many of the common large creditors such as Telcos, banks and utilities companies have procedures to deal with fixing a credit file, however they will not voluntarily provide you with advice and assistance on how to go about it all. Remember that you are only creating non profitable work for them so why would they assist you ?

So at the end of the day you can attempt credit repair your self and it is your right to try, but your chances may be somewhat reduced when compared to a credit repair professional with valuable knowledge, contacts and experience.

See what costs would be involved in repairing your credit file by clicking here on our free Online Quote tab today.

CREDIT RATING REPAIR – How do I start ???

Bad Credit Repair Australia

Your first step in fixing bad credit file issues is to get a copy of your credit file assessed. This is the first essential step and anyone who offers to repair your credit file issues without first advising this may be deemed as unprofessional with questionable motives.

Next step is to find a reputable organisation to assess your file. A professional knows precisely what to look for and what is or is not repairable. Not everything is repairable all of the time so take care and avoid anyone telling you everything can be fixed straight off the bat.

A reputable credit repairer needs to see your credit rating file and identify the issues for you firstly. They should then advise you of an estimate cost for repairs. Make sure you are not asked to pay any more than about a quarter up front. This is a general rule of thumb to weed out those who are intending on taking you for a financial ride.

Good quality credit rating repair can take time. Some issues can take several months if the creditor really wants to dig their heels in. Some issues are resolved in a couple of short weeks, even a few days. There is no way of predicting an exact finish date as we do not know how the creditor will behave or cooperate. “Quick Fix’s” are what dreams are made of although it is what you would really love to hear, it just doesn’t happen most of the time.

Credit rating issues are serious listings which require careful attention by professionals to achieve the best possible outcome.

Make sure you ask questions of your credit repairer if you are unsure about anything and be very careful of paying huge amounts up front.

At the end of the day it is possible to clear your name and return to a confident standpoint with your credit file. Click out online quote tab for a free quote on any Veda credit file issues you may have.



Credit Rating Defaults

Bad Credit Repair Australia

In Australia we have two Major credit reporting agencies, Veda Advantage and Dunn & Bradstreet. In short, the collection and maintenance of data which these companies perform is governed under one set of rules. That is to say for example, a court judgement will remain on file for the same length of time with both organisations. It does not vary.

The same applies to defaults, bankruptcies, applications and other listings.

As a rule of thumb payment defaults or overdue listings remain for five years from the original listing date. This cannot be extended. Serious credit infringements or clear-outs remain for seven years from original listing date. Bankruptcy listings remain for seven years from when the term of bankruptcy commenced. Credit applications remain for five years from the application date.

If a default is listed (five years) and is later upgraded to a clear-out (seven year), the term on file is still only five years. The term is always based on the original listing type and date. A five year listing does not turn into a seven year listing. Some will tell you that can happen, especially agencies trying to collect money out of you. It is called coercion and against the law.

When you perform a credit check and obtain your Veda file assessment file from us we provide a professional assessment which identifies any of these type of listings. You are also free to call and discuss any aspect you are unsure of.

Know where you stand with your credit rating status and get your credit file assessed through our home page or by clicking this link Assess My Credit File

How do I improve my credit score ?

Bad Credit Repair Australia

Consistency in the information you provide to a lender is critical for the best possible credit score.

When applying for finance lenders will perform a credit check using your Veda Advantage file or Dunn & Bradstreet file. If that shows up clear of defaults they will then run the data from your credit file through their system to obtain a “credit score or credit rating score”.

The data from your credit file must be as close as possible to the information you provide on your application in order to obtain maximum credibility. The software systems lenders use to cross reference data from your credit file against your application are very complex and sophisticated and intelligent. They are programmed very well to identify intentional or unintentional inconsistencies.

Unlike the copy of your Veda file you as a consumer may receive from Veda Advantage, the lenders version is in a different format. It contains more detail regarding address and employment dates and is therefore date specific. These dates are obtained and entered every time you submit an application for finance and the dates are entered according to what you supply on your application forms.

Therefore, you would need to remember the length of time you have nominated on every application for each job and address you have had. Not many of us get this right especially when you round the periods off to the nearest year to make the time periods look greater which many people do naturally. That plus memory makes this task almost impossible.

There is only one way to make sure that all of the information you are about to nominate on a credit application matches the information on your credit file. You need a copy of the version that lenders look at assessed. You can apply for this assessment online through our website by clicking Assess my Credit File.

This will allow you to confidently complete finance applications obtaining the best credit score on the proviso you do not have any existing defaults, court actions or other adverse listings. If you need adverse listings fixed this is where we specialise in fixing bad credit, credit repair so you can “fix my credit file” or “clear my credit rating”.