Bad Credit Rating Removal Case Study
Client Profile:
| Name: | Luke* |
| State: | NSW |
| Sex: | Male |
| Age: | 35 |
| Married/Single: | Married |
| Listing Type: | Default |
| Original Creditor: | Westpac |
| Current Creditor: | Lion Finance |
| Paid / Unpaid: | Paid |
| Listing Amount: | $36,939 |
| Commenced work: | 06/04/2018 |
| Default Resolution: | 09/05/2018 |
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Credit Repair Background:
Luke had an issue with the setting up of a direct debit for a payment plan that caused a default on a Westpac personal loan in late 2015. At the time of default, Luke and his wife had a one year old child and had gone down to one salary which was emotionally quite stressful for them. Whilst the amount was serviceable, it was a very busy and stressful time which is why Luke agreed to a direct debit with Westpac, trying to mitigate any manual intervention as he simply did not have time.
What were any challenges with the creditor?
Lion Finance refused to provide documents our Law Firm had requested.
Why was the listing removed?
Lion Finance agreed to removal on a ‘no prejudice’ basis.
Summary:
Luke engaged MyCRA Lawyers to investigate the likelihood of removal of a default listing on his credit file. The listing was the direct result of the time Luke had an issue with the setting up of a direct debit for a payment plan that caused a default with Westpac. MyCRA Lawyers negotiated the successful removal of his bad credit default listing in 33 days. Luke* can now achieve finance approval. Congratulations Luke and good luck!
Luke’s* name has been changed to protect privacy
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