Bad Credit Rating Removal Case Study
Client Profile:
| Name: | Ryan* |
| State: | QLD |
| Sex: | Male |
| Age: | 33 |
| Married/Single: | Single |
| Listing Type: | Default |
| Original Creditor: | GE Finance |
| Current Creditor: | Latitude Finance |
| Paid / Unpaid: | Paid |
| Listing Amount: | $2141 |
| Commenced work: | 12/10/2017 |
| Default Resolution: | 13/06/2018 |
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Credit Repair Background:
Ryan had GE default from 2015. It came about as he had an interest free period on the credit card but also confused it with a payment free period promotion. By the time Ryan organised setting up payments, he was working in rural central New South Wales and had very limited access to the internet. Ryan started paying the account and had paid it off before the interest-free period was over and only just before he finished paying off, he discovered he was defaulted.
What were any challenges with the creditor?
Latitude Finance was confident the default was validly listed and refused to remove it.
Why was the listing removed?
Latitude rejected MyCRA Lawyer’s initial requests, therefore we lodged a FOS complaint alleging that Latitude did not have Ryan’s consent to disclose his information to a CRB, that he made a postponement request and Latitude did not adhere to the requirements surrounding this. MyCRA Lawyers offered to indemnify Latitude if they removed the default. Latitude agreed to remove the default on these terms.
Summary:
Ryan previously used the services of a credit repair company however they were unsuccessful in removing the default. Ryan engaged MyCRA Lawyers to investigate the likelihood of removal of a default listing on his credit file. MyCRA Lawyers negotiated the successful removal of his bad credit default listing in 244 days. Ryan can now move forward financially. Congratulations Ryan and good luck!
Ryan’s* name has been changed to protect privacy
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