Mycra Lawyers - Credit Repair Industry Experts

Bad Credit Rating Removal Case Study

Client Profile:

Name: Richard*
State: NSW
Sex: Male
Age: 64
Married/Single: Single
Listing Type: Commercial Default
Original Creditor: NAB
Current Creditor:
Paid / Unpaid: Paid
Listing Amount: $66,379
Commenced work: 30/04/2018
Default Resolution: 30/05/2018
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Credit Repair Background:
Richard has 3 default listings on his credit file. Richard was developing his farm and got into tough times. He was the director and as such had a director’s guarantee. Richard could not recall ever having received any notices specifically to him as guarantor. NAB sold the farm at approximately half the valuation of the farm lot when the loan was granted by the bank’s panel Registered Valuer. Richard was never advised of the mortgagee in possession auction sale price. Richard had mediation with NAB and an extension of time but he could not achieve the desired outcome.

What were any challenges with the creditor?
The creditor responded to our Law Firm requests in a timely manner.

Why was the listing removed?
The default was removed as NAB held that Richard was not actually the guarantor for the loan and therefore the default should not have been listed.

Richard engaged MyCRA Lawyers to investigate the likelihood of removal of 3 default listings on his credit file. These listings were the direct result of the time property consulting income evaporated at the time of the GFC and casual teaching income was intermittent and Richard was insufficient to make payments on the farm mortgage. MyCRA Lawyers negotiated the successful removal of his bad credit default listing in 30 days. Richard* is now a step closer to achieving a finance approval. Congratulations Richard and good luck!

Richard’s* name has been changed to protect privacy

Call MyCRA Lawyers today if you’re struggling with your bad credit rating and you need MyCRA Lawyers to help you get it removed fast. Call 1300 667 218