What is Credit File Repair?

Simply put, if the credit file listing has not been added fairly, has been added incorrectly, or you believe it should not be there at all, then there is a strong chance it can be removed.

If you make an application for finance, being loans, credit cards, mortgages, etc. your credit file is likely to be checked by the finance company or lender to verify you meet their lending conditions. The sorts of things that are recorded on your credit file can and most often do include:, the number of times you have applied for credit, the type of finance you applied for and the dollar amount of the loan you applied for.

There are 4 Credit Reporting Agencies in Australia. They are:

Equifax has the largest Consumer database of these Credit Reporting Agencies with an estimated 19,500,000 credit files or more.

In 2004 Catherine Wolthuinzen was the financial policy officer for the Australian Consumers Association (Now CHOICE Magazine) and she found that on a study of 50 subjects, 34% contained errors.

A similar study was conducted in 2015. In January 2016, ASIC published a paper revealing the error rate remains similar some 12 years later.
This could mean that your credit file has a one in three chance of having errors you don’t even know about.

(Default listings that are incorrect are legally entitled to be removed)

source: http://www.caslon.com.au/reportingprofile3.htm and The Age

If you are a Mortgage Broker, Please click HERE to become an accredited referrer.

 

What can MyCRA Lawyers remove from my Credit File?

We can remove any Default, Overdue Account or Credit Enquiry that has been added to your credit file incorrectly or unjustly.

We will also look at Court Writs, Multiple files, Identity Theft damage, Clear Outs, and Court Actions.

See The Credit File Repair Process Flow Chart for information on how our Credit File restoration process works.

 

What are the benefits of repairing my Credit File?

Generally speaking, if you have a relatively clean credit file it will give you a lot more benefits that could end up saving you $$$!

 

Cleaning up your Credit File could:

  • Improve the interest rate you are offered
  • Make the difference between an approval or a decline
  • Give you wider choice with lenders and financiers
  • Allow you to refinance at better terms
  • Regain control of your finances

If you would like more information on having MyCRA Lawyers help you to restore your Credit File, Please call 1300-667-218 to grab everything you need to begin the process.

 

More Information: Call 1300-667-218 for a no obligation, free chat today.