Bad Credit Rating Removal Case Study
Client Profile:
| Name: | Build & Co Pty Ltd* |
| State: | VIC |
| Sex: | – |
| Age: | – |
| Married/Single: | – |
| Listing Type: | Commercial Default |
| Original Creditor: | MC Labour |
| Current Creditor: | – |
| Paid / Unpaid: | Paid |
| Listing Amount: | $40,701 |
| Commenced work: | 22/02/2018 |
| Default Resolution: | 03/04/2018 |
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Credit Repair Background:
The default is from a labour hire company called MC Labour, and they defaulted Build & Co in July 2017. Build & Co had a client that owed them a large sum of money. The account they had with the client was 7 days however the monies were not paid for almost 3 months. No notices were received from the creditor and no notice received of the new creditor, Atradius, taking over the debt.
What were any challenges with the creditor?
The MC Labour representative that MyCRA Lawyers have been corresponding with was on extended leave.
Why was the listing removed?
MyCRA Lawyers drafted settlement deed. Build & Co to make a payment of $8000 and on receipt of these funds MC Labour would remove the default listing. Within 15 business days of confirmation of the removal, Build & Co to pay the remaining balance. MC Labour agreed to these terms.
Summary:
Build & Co engaged MyCRA Lawyers to investigate the likelihood of removal of a default listing on their credit file. The listing was the direct result of the time Build & Co had a client that owed them a large sum of money and the monies were not paid for almost 3 months. Build & Co only discovered the bad credit default listing when they applied for finance and were declined. MyCRA Lawyers negotiated the successful removal of their bad credit default listing in 40 days. Build & Co* can now achieve a finance approval. Congratulations Build & Co and good luck!
Build & Co’s* name has been changed to protect privacy
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