Bad Credit Rating Removal Case Study
Client Profile:
| Name: | Holly* |
| State: | VIC |
| Sex: | Female |
| Age: | 31 |
| Married/Single: | Married |
| Listing Type: | Default |
| Original Creditor: | St George |
| Current Creditor: | Lion Finance |
| Paid / Unpaid: | Paid |
| Listing Amount: | $6040 |
| Commenced work: | 14/02/2018 |
| Default Resolution: | 31/05/2018 |
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Credit Repair Background:
Holly had just received a promotion at work that required her to be better presented as it was client facing. Holly took out multiple short term loans from Pay Day Lenders to fill the short term gap. At the time, she had received money from 4 different lenders as well as 2 personal loans and a credit card. Holly was trying to juggle payments to all creditors while keeping money in order to do her job which required her to take clients out to lunch.
What were any challenges with the creditor?
Lion Finance refused to provide all documents required under Privacy Act and NCCPA.
Why was the listing removed?
Lion Finance agreed to removal on a without prejudice basis. The grounds raised in the complaint were that there was no evidence that St George had Holly’s consent to disclose her information to a CRB and the 21D notice used the word may.
Summary:
Holly engaged MyCRA Lawyers to investigate the likelihood of removal of 1 judgment and 1 default listings on her credit file. These listings were the direct result of the time she was unable to pay the balance of her personal loan. Holly only discovered the listings when she signed up to Equifax for regular monitoring of her credit file. MyCRA Lawyers negotiated the successful removal of his bad credit default listing in 106 days. Holly* is now a step closer to achieving a finance approval. Congratulations Holly and good luck!
Holly’s* name has been changed to protect privacy
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