Names and identifying details in this case study have been changed to protect our client’s privacy.

Shane believed his car loan was finished. The direct debits had stopped towards the end of the term, and he took that as a sign it was paid off. He likely used the money in that account for other bills.

It wasn’t quite paid out. A small default of around $640 from Toyota Finance went on his file.

Diagram of how this case was resolved: thought loan was paid, incorrect fees applied, fees and privacy act, removed in 47 days

What it was doing

Shane only found out when he applied for finance and was declined. A default is a default, whatever the size, and this one was in the way.

What we found

We asked Toyota Finance for its documents. It didn’t provide them within the required time.

When we looked at what made up the balance, the fees didn’t stack up. Some had been applied incorrectly. On top of that, the finance company’s handling of our request raised breaches of the Privacy Act’s credit reporting and access rules.

Why it came off

We drafted a complaint based on the incorrect fees and put a settlement offer to the finance company based on its Privacy Act breaches. It agreed to remove the default.

The result

The default came off 47 days after we started. Shane could go ahead with his finance application.

What this means for you

Small leftover balances on car loans catch a lot of people. Look closely at what makes up the amount. Fees and charges are often where errors hide. Our credit repair lawyers check the numbers as well as the notices.

This is a past matter. Names and identifying details have been changed to protect our client’s privacy.

Results depend on individual circumstances. Every credit file is different, and a past result doesn’t guarantee the outcome of your matter. This case study is general information, not legal advice.

Don’t spend another month stuck in Credit Prison. Call our credit repair lawyers on 1300 667 218 or book a 15-minute intro call at https://mycralawyers.com.au/15min-credit-repair-intro-call/ . If we think your chances are low, we’ll tell you straight.

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