Bad Credit Rating Default Removal Case Study
MyCRA (Specialist Credit Repair) Lawyers Client Profile:
| Name: | Borimir* |
| State: | QLD |
| Sex: | Male |
| Age: | 36 |
| Married/Single: | Married |
| Listing Type: | Default |
| Original Creditor: | NCO Finance |
| Current Creditor: | – |
| Paid / Unpaid: | Paid |
| Listing Amount: | $42,033 |
| Commenced work: | 10/04/2018 |
| Default Resolution: | 24/09/2018 |
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Credit Repair Background:
Australia was suffering the GFC at the time, which meant there just wasn’t much work for Borimir* and his company in the construction industry. This resulted in Borimir selling all their assets to pay the bills and debts he incurred from 2 builders not paying his invoices. Borimir lost approximately $200K and was not getting enough work.
What were any challenges with the creditor?
NCO Finance refused to respond to MyCRA Lawyers initial request.
Why was the listing removed?
NCO Finance refused to respond to MyCRA Lawyers initial request. Borimir’s solicitor noticed that listing was placed as a consumer default when it should have been commercial. MyCRA Lawyers lodged an Equifax correction request, however, Equifax also refused respond. This resulted in MyCRA Lawyers lodging a CIO complaint. CIO advised that the creditor had now agreed to removal.
Summary:
Borimir engaged MyCRA Lawyers to investigate the likelihood of removal of 3 listings on his credit file. These listings were the direct result of the time Borimir and his company were financially struggling. MyCRA Lawyers negotiated the successful removal of his bad credit default listing in 167 days. Borimir is now a step closer to achieving a finance approval. Congratulations Borimir and good luck!
Borimir’s* name has been changed to protect privacy
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