Bad Credit Rating Default Removal Case Study
MyCRA (Specialist Credit Repair) Lawyers Client Profile:
| Name: | Nguyen* |
| State: | VIC |
| Sex: | Male |
| Age: | 35 |
| Married/Single: | Married |
| Listing Type: | Default |
| Original Creditor: | American Express |
| Current Creditor: | – |
| Paid / Unpaid: | Paid |
| Listing Amount: | $1205 |
| Commenced work: | 13/10/2017 |
| Default Resolution: | 27/08/2018 |
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Credit Repair Background:
Nguyen and his wife had a newborn baby and Nguyen had been under a lot of pressure with work, house duties, and care arrangements. Nguyen always paid the minimum amount every month, however, but he lost track and had missed a few payments while he was away overseas. Nguyen did not receive any calls about this matter during the time.
What were any challenges with the creditor?
AMEX and FOS were adamant that the listing was valid and they refused to remove the default.
Why was the listing removed?
MyCRA Lawyers raised numerous ASIC/OAIC compliance issues, resulting in AMEX agreeing to remove the listing.
Summary:
Nguyen engaged MyCRA Lawyers to investigate the likelihood of removal of an American Express default listing on his credit file. The listing was a direct result at the time when Nguyen went overseas for a few months and forgot to make a few overdue payments. Nguyen only discovered the bad credit default listing during a credit alert. MyCRA Lawyers negotiated the successful removal of his bad credit default listing in 318 days. Nguyen can now move forward financially. Congratulations Nguyen and good luck!
Nguyen’s* name has been changed to protect privacy
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