Bad Credit Rating Removal Case Study
Client Profile:
| Name: | Services Company* |
| State: | WA |
| Sex: | – |
| Age: | – |
| Married/Single: | – |
| Listing Type: | Commercial Default |
| Original Creditor: | Hire Service Company |
| Current Creditor: | – |
| Paid / Unpaid: | Unpaid |
| Listing Amount: | $4924 |
| Commenced work: | 18/07/2018 |
| Default Resolution: | 25/07/2018 |
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Credit Repair Background:
Services Company had 2 default listings on their credit file. The defaults came about because a contractor they did work for, tried to shortpay them $1.6 million of a $2 Million invoice. The account is still in dispute. Services Company went into voluntary administration in December 2015 and a DOCA was entered into with the creditors on January 2016. Pursuant to the DOCA, a creditors’ trust was formed and all liabilities and liquid assets were transferred to the trust. There was a commitment by the Company to contribute further amounts to the trust and that obligation was completed by November 2016.
What were any challenges with the creditor?
There were no issues with the creditor as they responded to our Law Firm requests in a timely manner.
Why was the listing removed?
The Hire Company contacted MyCRA Lawyers to advise that they could not locate documents and the Hire Company agreed to remove the listing.
Summary:
Services Company engaged MyCRA Lawyers to investigate the likelihood of removal of 2 default listings on their credit file. MyCRA Lawyers negotiated the successful removal of their bad credit default listing in just 7 days. The Services Company* is now a step closer to achieving a finance approval. Congratulations Services Company and good luck!
Services’ Company* name has been changed to protect privacy
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