This report is well overdue and shines a light on many of the important facts MyCRA Lawyers have been openly concerned about for quite some time.

We Audit Your Creditor’s Files Looking For Legislative & Compliance Errors.

Section 29 of the report states “The OAIC noted that, of those who accessed their credit report, three in ten (30%) found the information to be incorrect …“. This is in line with a small scale survey published in CHOICE finding 34% of credit reports contained mistakes.

The report “Paying to get out of debt or clear your record: The promise of debt management firms” (The Report) also notes that “In Australia, there has also been evidence of credit providers making serious and systemic errors in credit listings.” The issue of systemic errors still exists and is not restricted to just financial institutions.

MyCRA Lawyers has identified several organisations including energy providers and debt collectors that routinely seem to ignore the legislation to the consumers potential detriment.

These systemic breaches have been documented and are the subject of a complaint to the OAIC wherein we are calling for a “Commissioner Initiated Investigation”.

MyCRA Lawyers seeks to penalise these negligent organisations and restore the balance of power to give affected consumers a voice, and restore their legislated (and moral) consumer rights.

The Report makes mention that many of the Debt Management Firms have “… only worsened their [the consumers] immediate financial position …”. The Report also talks about the consumer in “Financial Hardship” and seems to indicate the tie in between Part IX Debt Agreement Companies and Credit Repair.

There could be no two business segments further apart. A Part IX Debt Agreement is “… an act of bankruptcy … ” and destroys a person’s credit rating. MyCRA Lawyers is 100% focused on investigating the validity of the default listings and removing those that have been placed in error or unlawfully to improve a person’s credit score.

I do know of credit repair agencies that seem to fit this model and offer Part IX Debt Agreements as a supposed “Credit Fix” or Credit Repair, and others that seem to actively target those consumers in genuine financial hardship. These clients in Financial Hardship should seek assistance from Financial Planners or free credit counselling services – Not Credit Repair or Debt Agreements.

The majority of clients referred to MyCRA Lawyers by other trusted authorities in the Finance & Mortgage Industry are those that may have a single issue that often, they knew nothing about prior to applying for their mortgage.

Some particular incident in their past left them with a bad credit rating but they are now in a financially stable position, and moving forward with their lives.

These clients are NOT in the same position as the vulnerable client still immersed in depths of financial hardship.

On average, MyCRA Lawyers clients had 1.2 bad credit default listings, achieve a successful removal resolution in 91.6% of cases and of those, receive the resolution in seven days or less – And, because we are a Legal Practice, these figures have been independently audited and the Audit Certificate is published.

The Report raises concerns about the abilities of these organisations by stating:

1. ” … firms had a poor understanding of the relevant law …” and
2. “client money is not adequately protected …” and
3. “… no uniform regulatory framework applying to debt management firms …”

All of these concerns are addressed when you choose to only deal with MyCRA Lawyers for credit reporting issues because:

1. MyCRA Lawyers is a Legal Practice with Solicitors, Paralegals and Legal support staff managing your matter;
2. All Client Money is held in our Legal Trust Account which is subject to heavy regulation and regular audits; and
3. MyCRA Lawyers is heavily regulated for consumer protection by The Queensland Law Society.

In closing, while I agree consumers can access Ombudsman bodies and other EDR schemes themselves for free, I disagree that it is always the best option.

To expect the ombudsman or the credit reporting bodies to conduct the same level of in depth investigation and audit of the creditors actions as a Legal Practice is in need of a serious reality check.

The free services may have neither the time nor the depth of knowledge of the credit reporting and associated legislation to be able to assist the client to the same extent as MyCRA Lawyers.

In fact, MyCRA Lawyers have had defaults removed that had been previously investigated by Ombudsman bodies wherein the Ombudsman body found no fault.

Consumers and Trusted Authorities alike are encouraged to firstly read The Report and then do your homework. Be aware of your risks, your rights and know who you’re dealing with and/or referring to.
It’s either your professional reputation or your credit reputation at risk.

[Graham Doessel is the Chief Executive Officer & Non-Legal Director of MyCRA Lawyers]

The report can be found at http://www.asic.gov.au/about-asic/media-centre/find-a-media-release/2016-releases/16-011mr-asic-releases-report-on-debt-management-firms/

Who do you know that might have been the victim or almost the victim of an online scam or an identity theft issue or that has a bad credit rating, you might like to think how much you’d appreciate some help if you’d just been through something like this, and how grateful you’d be if your friend or trusted advisor let you know that you have options to get your life back.  

Let your friends know that MyCRA lawyers has an independently audited success rate of 91.6% of all matters taken on* received a successful default removal resolution and approx. a 1/3 of them received the good news within 7 days or less.

As you think about who you might refer, you might think back over the clients that have been rejected for credit issues by you or your lenders for the past 3 or so years.  Hope is an amazing gift you can give them and it’ll cost you nothing to mention MyCRA Lawyers to them all.  Refer them through using our simple and convenient 90-second online referral form by clicking the button below.

 “Thank you so much I will tell all my Doctor friends, family, and I will recommend them to you.”

“… for me impossible to get any loan, without your help …”

“… And Lauren Andrew, ahhh Phillip Anthony, Cory – they are all amazing, you know? I can’t tell you how beautiful the service was, it’s amazing, it’s changed my life. It’s changed my life and it’s saved me thousands of dollars because you know the bank wanted to give me 10% because of my credit file. My excellent, my credit history now, it’s back on track…”  Dr Kamal Zgheib – Qld

Dr Kamal Zgheib default removal | MyCRA Lawyers Testimonial

Listen to the Telephone call between Graham Doessel and Dr Kamal.