Bad Credit Rating Removal Case Study
Client Profile:
| Name: | Cheng* |
| State: | QLD |
| Sex: | Male |
| Age: | 32 |
| Married/Single: | Single |
| Listing Type: | Default |
| Original Creditor: | Credit Corp |
| Current Creditor: | – |
| Paid / Unpaid: | Unpaid |
| Listing Amount: | $646 |
| Commenced work: | 23/06/2016 |
| Default Resolution: | 3/07/2016 |
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Credit Repair Background:
Unemployed at the time of the default, Cheng was struggling to provide for his family. He was made aware of the default through his broker when he went for a home loan. Credit Corp contacted him but did not ask about his circumstances or that he was out of work. He could not pay the overdue amount off in one lump sum.
What were any challenges with the creditor?
The creditor responded to our Law Firm requests in a timely manner.
Why was the listing removed?
Credit Corp advised that the account has reached its statute of limitation. Consequently, the Credit Corp email confirming the account was statute barred was sent to Veda. Veda then confirmed removal of the default listing and correction of Cheng’s credit file.
Summary:
Cheng was referred to our office by his mortgage broker. He was anxious to get it removed as he needs to get a home loan. We managed to negotiate removal of her default in 10 days and Cheng can now confidently apply for a home loan. Congratulations Cheng and good luck!
Cheng’s* name has been changed to protect privacy
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