Mycra Lawyers - Credit Repair Industry Experts

Bad Credit Rating Default Removal Case Study

MyCRA (Specialist Credit Repair) Lawyers Client Profile:

Name: Brett*
State: QLD
Sex: Male
Age: 51
Married/Single: Married
Listing Type: Commercial Default
Original Creditor: Commonwealth Bank of Australia
Current Creditor:
Paid / Unpaid: Unpaid
Listing Amount: $21,828
Commenced work: 12/09/2017
Default Resolution: 23/08/2018
case study image

Credit Repair Background:
The economy was down and times were tight for Brett and his wife, unfortunately, they were forced to close most of their business down.  After 10 months or so, they were forced to close the remaining business down.  previously, all machinery had been sent to auction by Brett and his wife, they set reserves and came out clean. CBA had now stepped in and sent 1 piece of machinery to Auction, supposedly sending to Brisbane but in fact went to Auction in Townsville. No reserve was set and an $80,000 machine was sold for $12000 leaving Brett and his wife with a shortfall of $21000. A representative from CBA advised that he would be in contact with Brett and his wife once auction was over to organise a payment plan if there was a shortfall. Brett and his wife never heard from the CBA representative as they were using wrong contact details; Brett’s email and mailing address had changed as they were then forced to move out of their family home and sell up.

What were any challenges with the creditor?
CBA were adamant that the default was valid and they refused to remove the listing at the time of the investigation.

Why was the listing removed?
CBA has offered to remove the listing and pay $3000 compensation to Brett and his wife if they indemnify them from all claims.

Brett and his wife engaged MyCRA Lawyers to investigate the likelihood of removal of a CBA default listing on their credit file. The listing resulted when Brett and his wife were forced to close down their business due to a slump in the earthmoving industry. MyCRA Lawyers negotiated the successful removal of his bad credit default listing in 345 days. Brett and his wife* can now move forward financially. Congratulations Brett and good luck!

Brett’s* name has been changed to protect privacy

Call MyCRA Lawyers today if you’re struggling with your bad credit rating and you need MyCRA Lawyers to help you get it removed fast. Call 1300 667 218 now