The 3 Top Myths About Credit Repair That You Need To Know!

Bad Credit VS Good Credit RepairThere’s a lot of Mis-Information circulating about credit repair so here is your chance to uncover the genuine facts about Credit Repair In Australia.

1.     Defaults Can’t Ever Be Removed

Bad Credit can only come off your credit rating in 2 ways:

  • They will Automatically ‘Expire’ after a set time
    • Defaults 5 Years
    • Enquiries 5 Years
    • Bankruptcy 5 Years
    • Clear-Outs 7 Years
    • Late Payments 2 Years
    • Judgments 5 Years
  • You discover that your creditor has made mistakes when listing the bad credit that may deem the Bad Credit listing Unlawful – You then instruct your creditor to remove the unlawful listing immediately

2.     All Credit Repair Companies Are The Same

  • There are vast differences between Credit Repairers’
    • Some are Honest, Ethical, Cost Effective Law Firms
    • Some may be untrained and just out for your buck
    • Some have received National Awards (Like the Choice Shonky Award)
    • Some hide the fact that they are run by convicted fraudsters
    • Some are run by ex-taxi drivers
    • Some sell you an “out-of-date” how-to manual that just doesn’t work ($1100- ish)
    • Some are Honest, Ethical, Cost Effective Law Firms

3.     It’s Only A Small/Large Amount & It’s Paid/Unpaid So It’ll Be Easy/Hard

  • Some people previously believed:
    • It’s a small default ($amount) so it will be easy
    • It’s a large default ($amount) so it’ll be impossible
    • I paid it so it’ll be easy
    • I haven’t paid it so it’ll be hard

The truth is that in most cases, it doesn’t matter if it’s big or small, paid or unpaid.  It all comes down to “Did your creditor adhere to the legislation, did they follow the correct procedure?”.
If not, then in most cases, it’s likely we’ll have your Bad Credit listing removed

4.     BONUS – You Can Just As Easily Do It All Yourself

  • This is not really a myth actually – YOU CAN DO IT ALL YOURSELF (Just like doing your own tax or like you can defend yourself in court)
    • All you need to do is:
      • Research which legislation governs your default type
      • Study the legislation (Approx 8,000 pages for finance defaults)
      • Compare what the creditor can prove they’ve done against the legislation
      • Identify noncompliance
      • Seek appropriate remedy
    • Just go to the appropriate Ombudsman yourself
      • For best results, help the ombudsman by following points 1 to 5 above then send your file to the Ombudsman in the event the creditor still refuses to remove the bad credit listing after you’ve identified where your creditor has breached the legislation.
    • Just Pay It And They’ll Remove It
      • Wouldn’t that be nice…
        • Paying your default will simply have your creditor ‘update’ your bad credit from unpaid to paid and it will stay on your credit file as a paid default.

MyCRA Lawyers is an Incorporated Legal Practice working exclusively and with a Laser Sharp Focus on issues surrounding your bad credit ratings and how we can help you remove and erase your bad credit.

If you need professional, trustworthy honest help without all the marketing hype and BS of unqualified so called ‘credit repairers’ Do Yourself  A Favour & Pick Up The Phone Right Now And Call MyCRA Lawyers On 1300 667 218 For An Obligation Free Chat About How MyCRA Lawyers Can Help You Today.