MyCRA Specialist Credit Repair Lawyers

Tag: bad credit history

  • Housing finance falls: ABS Statistics reveal drop for January

    Despite predictions housing finance would flatten or continue to show rises for January, Australian Bureau (ABS) Housing Figures January 2012 released today show the number of owner occupied home loans approved in January fell 1.2 per cent to 47,768.

    By Graham Doessel, Founder and CEO of MyCRA Credit Rating Repairs and www.fixmybadcredit.com.au.

    The falling of housing finance approvals follows a downwardly revised figure of 48,370 in December.

    Economists’ forecasts had centred on housing finance commitments to be flat for January.

    Here are the ABS’ Housing Finance January 2012 Key Points:

    VALUE OF DWELLING COMMITMENTS

    January 2012 compared with December 2011:

    ■The trend estimate for the total value of dwelling finance commitments excluding alterations and additions rose 0.6%. Owner occupied housing commitments rose 0.8% and investment housing commitments rose 0.2%.

    ■In seasonally adjusted terms, the total value of dwelling finance commitments excluding alterations and additions fell 2.3%.

     

    NUMBER OF DWELLING COMMITMENTS

    January 2012 compared with December 2011:

    ■In trend terms, the number of commitments for owner occupied housing finance rose 0.8%.

    ■In trend terms, the number of commitments for the purchase of established dwellings rose 0.9% and the number of commitments for the construction of dwellings rose 0.4%, while the number of commitments for the purchase of new dwellings was flat 0.0%.

    ■In seasonally adjusted terms, the number of commitments for owner occupied housing finance fell 1.2%.

    ■In original terms, the number of first home buyer commitments as a percentage of total owner occupied housing finance commitments fell to 20.3% in January 2012 from 20.9% in December 2011.

     

    State by state breakdown

    Despite recordings overall showing a fall in numbers, the statistics reveal some Australian states fared better than others:

    Number of Owner Occupied Dwellings Financed – State (Tables 5 & 6)

    Between December 2011 and January 2012, the number of owner occupied housing commitments (trend) rose in New South Wales (up 275, 1.8%), Queensland (up 141, 1.6%), Western Australia (up 94, 1.5%), Victoria (up 31, 0.3%), the Australian Capital Territory (up 14, 1.7%) and the Northern Territory (up 2, 0.7%), while falls were recorded in South Australia (down 14, 0.4%), and Tasmania (down 1, 0.1%). The seasonally adjusted estimates fell in New South Wales (down 1,003, 6.3%), the Northern Territory (down 29, 8.3%) and the Australian Capital Territory (down 16, 1.8%), while rises were recorded in Western Australia (up 240, 3.8%), Victoria (up 117, 0.9%), South Australia (up 39, 1.3%), Tasmania (up 28, 3.2%) and Queensland (up 3, 0.0%).

    Where to turn when lending criteria remains tight

    When it comes to new home loans, being credit-savvy is one of the best ways to ensure people can ensure they have access to the best interest rates and or the loan that best suits their needs.

    Many do not know that Australians who are living with defaults on their credit file could potentially be hit with a whopping $15,046.57 or more in additional home loan repayments over the first three years of their loan due to the restrictions placed on lender availability.

    Many of the people that currently have negative listings on their credit file may be living with bad credit history unnecessarily.

    To find out how more people can remove their bad credit history – opening doors to lenders that were previously unavailable – contact MyCRA Credit Rating Repairs. Cick on the link to this short video to find out how a professional credit repairer can help you or your clients:

    Image: Salvatore Vuono / FreeDigitalPhotos.net

  • Australia’s medical records vulnerable to identity theft

    Australia’s medical records are proposed to go online, in the form of personally controlled e-health records (PCEHR). But there has been much concern over the security of the personal information which will be available online for potential hackers. We examine what this could mean for your identity and your credit file if your details were hacked.

    By Graham Doessel, Founder and CEO of MyCRA Credit Rating Repairs and www.fixmybadcredit.com.au.

    Personally controlled e-health records are currently the subject of a Senate Inquiry, with submissions currently being made into the PCEHR Bills.

    A few days ago, computer emergency response team, AusCERT, expressed its grave concern over the introduction of an e-health system. It told the Senate Inquiry that PCEHR will be wide open to hacking.

    The Australian covered this in its story ‘PCEHR open to hacking, says AusCert.’ An excerpt is below:

    “The current proposal by the Australian government to provide PCEHR over the internet will allow for the exposure of these records to theft and compromise,” AusCERT warned.

    “Online criminals have for many years been attacking PCs at work and home to gain access to the systems and data they desire.

    “There is no reason to think criminals won’t actively target these computers specifically for the benefits they may provide once the PCEHR system goes live (on July 1).”

    AusCERT said fraudsters will be only too keen to harvest “valuable” personal details including full names, dates of birth, current address and Medicare numbers.

    AusCERT’s biggest concern, is that the Federal Health Department cannot ensure the security of every computer using the system:

    It notes that the federal Health department “is promoting the benefits of PCEHR over the internet on the basis that it will be secure”.

    “These statements cannot be assured and are misleading,” it said. “If any end-user computer is already compromised by malicious software, the confidentiality of the PCEHR may be easily compromised…

    AusCERT said the department “appears to be focused on the security of the back-end systems” rather than the endpoint systems and software people will use to connect to the system.

    “At best this is misleading and at worst it is a misrepresentation of the level of risk,” it said.

    “The computer used to connect to the system can be anything from a smartphone, a home PC or laptop, an enterprise PC on a public or private network to a publicly used PC located in an internet kiosk or business lounge.

    “Since 2003 these ‘consumer’ devices have been effectively targeted for compromise typically by criminals for the purpose of identity theft and fraud, with the end result being access to personal identifying information and access credentials stored or processed on these devices.

    “If the computer has been compromised then it is impossible to protect the confidentiality of information.”

    AusCERT put out some alarming statistics from an Australian Communications and Media Authority report from 2010. The ACMA found that some 25,000-30,000 computers are compromised in Australia every day; annually that equates to about 4 million PCs.

    “Imagine if each of these computers had at least one user who had used it to access their PCEHR. That represents potentially millions of records compromised by online criminals.”

    MyCRA has been watching the unfolding of PCEHR with interest. The security of personal information should be a topic argued over extensively in this way whenever personal information is transferred to any form of online setting, and we are glad to see AusCERT has made these concerns known.

    In all instances it is so important for all Australians to be aware that when we are improving the access of personal information, that we are not trading off on the security of that personal information.

    There is the danger of possible data breaches from within any company or organisation, and as AusCERT warned, dangers of possible malicious hacking of personal computers – both of which potentially compromise a the personal information and the very identity of those consumers that use that service.

    Criminals do target home computers – as the ACMA statistics reveal.

    Sometimes fraudsters are lucky enough to gather enough information to resume someone else’s identity. Most times they can then go about taking out credit in the victim’s name, and most identity theft victims don’t even know about it until they attempt to take out credit in their own right and are refused due to a bad credit history they didn’t initiate.

    The problems don’t stop there. The identity theft victim can be in a world of pain trying to recover their good name. Bad credit history is not easy for anyone to clear – let alone the identity theft victim, who would be required to produce police reports and other documentation to prove to creditors they are not responsible for the bad credit history.

    The Government’s Stay Smart Online website offers some ways you can protect your home computer from being compromised by malicious software, or any kind of identity theft attempt. Here is their secure computing checklist:

    1. Use only supported operating systems
    Vendors, including Microsoft, stop supporting operating systems that become dated. New versions offer improved security. Third-party vendors, which make application software for these operating systems, also stop support of older versions.

    2. Enable automatic updates of your operating system
    Automatic updates install small corrections to the operating system. These corrections are known as patches and include security and functionality improvements. When you enable the automatic installation of the fixes, you reduce the chance of exposure to security threats.

    3. Enable a limited-rights account for each user and use it for routine online activities such as browsing the web and reading email
    It is important to use a limited account for daily tasks as many malware authors depend on users running administrator (or privileged user) default accounts.
    Operating as a limited user greatly reduces the effectiveness of many types of malware but this does not mean limited users are protected from malware completely.

    4. Install and update security software that provides functionality for antivirus and anti-spyware software and a personal firewall.
    These products help prevent computers from infection by malware. Make sure that they are configured to update automatically. Do not install more than one product that duplicates any of these functions. Either install a product that combines these functions, or install separate products for each of these functions. For example, install a combined antivirus and anti-spyware product and a separate firewall product.

    5. If using broadband, turn your computer off when not in use.

    6. Secure your email software
    One method of compromising your computer is via email. If you secure your email software, then you greatly reduce your chances of being compromised.

    7. Secure your web browser
    Another risk to your computer is during web browsing. If you secure your web browser, you can reduce the chance of your computer being compromised.

    8. Do not click on links or open attachments in spam email or email that is otherwise suspicious.

    If you, or someone you know has been a victim of identity theft it is important to check your credit file. This will determine whether you have bad credit history as a result of identity fraud. Contact MyCRA Credit Rating Repairs for help with your credit file, and repairing any bad credit history from identity theft.

    PH tollfree 1300 667 218 or info@mycra.com.au or visit our website for more information www.mycra.com.au.

    Image: Stuart Miles / FreeDigitalPhotos.net

  • Credit – friend or foe? 6 tips to make credit work for you

    Credit – friend or foe? Yes you should take advantage of credit, and we show you how to do that without blowing out repayments, and preventing a bad credit history.

    By Graham Doessel, Founder and CEO of MyCRA Credit Rating Repairs and www.fixmybadcredit.com.au.

    It is no secret that in this day and age many people are struggling with credit.

    Currently we are seeing lots of people running into trouble with their credit rating and the trouble sticks for 5 -7 years

    You could be forgiven for thinking that credit is the enemy…

    But we need to develop the ethos that credit is not something that is granted, it is something that is earnt. At one point banks were practically throwing money at us. Now it’s tough and you have to prove yourself.

    There is absolutely nothing wrong with using credit provided you make it work for you.

    In fact, if you have wondered ‘credit – friend or foe?’ consider what having no credit history will do for your ability to obtain credit. Not having a credit repayment history in this day and age can be just as difficult as having a bad credit rating when it comes to getting finance – especially a home loan.

    Where people come unstuck with credit is getting to a stage where they are forever chasing their tail with repayments, falling behind. Or getting blasé about repayments and not understanding what the consequences can be.

    Credit can be useful provided you make it work for YOU.

    If you can’t afford it now you can have the privilege of paying for it later – but understand that you will pay at some point. So if you don’t make your payments on time now – your credit file – your ability to take out new credit – will suffer for years to come.

    A bit about how a bad credit rating originates…

    Payments on any bills which are more than 60 days late can be listed as a ‘default’ on your credit file.

    This default can remain on your credit rating for 5 years, and can mean you are refused credit for this time. Even if the account was later paid, the credit reporting agency generally does not remove the default but can mark it as paid.

    Even defaults that you have paid still show on your credit report, and are considered bad credit history by most lenders. It is extremely important to keep a clear credit file because the repercussions will be felt for 5 years.

    Here are our 6 credit success tips…

    1. DO USE CREDIT: Having no credit history means there is nothing to calculate and the risk appears high to lenders. Start by borrowing something small. Repaying mobile phone plans, internet accounts, or store credit on time will appeal to anyone checking your credit score. Smaller purchases paid correctly contribute to approval for larger loans such as homes, vehicles and businesses in the future because they show a person’s ability to repay.

    2. MAKE REPAYMENTS ON TIME: Repay any bills received by the due date. Repay over the minimum amount required on credit cards. If you are having trouble paying on time, contact the creditor as they may be able to work out a payment plan rather than listing the non- payment as a default.

    3. HAVE A STABLE ADDRESS: Lenders like to see stability. Furthermore, defaults are easy to come by when bills are sent to the wrong address. If you do travel frequently, consider a trusted family member’s address for all bills.

    4. APPLY FOR CREDIT WITH CARE: You should only apply for credit if you feel you have a very good chance of being approved. Declined credit applications on a person’s file can hinder their chances of obtaining a loan. Likewise, you should only apply for credit you have full intention of pursuing. Every application is noted but does not stipulate whether it was approved or not. If you go shopping for credit and apply everywhere – it may look like you were declined everywhere.

    5. CHECK YOUR CREDIT FILE REGULARLY: You should check your credit file before you need to apply for credit. That way if there are any problems you can sort it out while there is no urgency, and save yourself embarrassment and disappointment from having credit declined. It is free once per year from the credit reporting agencies.

    6. DON’T LEAVE DEFAULTS TOO LATE: If there are defaults, don’t put up with them for 5 years – you may be suitable for credit repair. People can check with a credit file repairer if they can be removed.

    What about credit repair…

    Begin by obtaining a credit report – which you are entitled to do for free every 12 months via the major credit reporting agencies Veda Advantage, Dun & Bradstreet and Tasmanian Collection Service.

    If you find a default, writ or Judgment on your credit file which you believe is there unfairly, unjustly or just shouldn’t be there at all – it may be possible to have it removed.

    Credit repair is a difficult process. Time and again people are disheartened from trying to deal with creditors themselves to have the default, writ or judgment removed from their file. Most are told that default listings never get removed but can be marked as paid.

    Unfortunately, this is not enough to ensure credit is obtained in this current economic market. So basically those black marks mean you are stuck with a bad credit rating for 5-7 years, unable to borrow for homes, cars, businesses and take out simple accounts like mobile phone plans.

    Then the key is to establish a good track record on your credit file, using the above 6 credit success tips.

    Good luck!

    If you need help with repairing your bad credit history, contact MyCRA Credit Rating Repairs on 1300 667 218 or visit our main website www.mycra.com.au.

    Image: Stuart Miles / FreeDigitalPhotos.net

  • How healthy is your credit rating?

    Your credit rating is just like your health.  You can get regular check- ups and maintain it, or you can wait until something goes wrong before you get it fixed. Knowing what’s on your credit file is the key to your financial freedom. Maintaining that credit file health will ensure you are able to continue to enjoy the benefits of obtaining credit now and for years to come.

    Graham Doessel, founder and CEO of national credit repair firm MyCRA Credit Rating Repairs and www.fixmybadcredit.com.au addresses some common questions about your credit file.

    WHAT is my credit rating?

    Your credit rating is really a file on your credit history, and is collated by the major credit reporting agencies on anyone who has ever been credit-active.

    Your credit file is then checked by any credit provider and is used to assess both the amount you are able to borrow and your ability to repay the loan.

    How do I find out what’s on my credit file?

    There are four major credit reporting agencies in Australia: Veda Advantage – which holds the credit file of over 14 million Australians, Dun and Bradstreet, Experian Australia and Tasmanian Collection Service (TASCOL) if in Tasmania.

    By law you are entitled to write to or email one of these agencies and request a copy of your credit file for free. It will take 10 working days from application to receive this information, or for a fee it can be provided within 3 working days.

    What is defined as a ‘bad’ credit rating?

    In broad terms, any defaults, clear outs, court Judgments or writs, external administrations and bankruptcies are all recorded on your credit file and would be considered ‘bad’ credit history by most credit providers.

    In this current economic climate basic defaults and even too many credit enquiries or applications for credit may be considered to be bad credit history.

    How do I get a bad credit rating?

    What is not realised by many people is how easy it is to have a default slapped on your credit file – which will show up as bad credit history.  If a bill is more than 60 days late, (including rates, power and mobile phone bills) then a credit provider has the right to notify you of their intentions to record this default on your credit file. Even if this bill is paid, the default usually remains on your record for 5 years.

    What are the repercussions of having a bad credit rating?

    A bad credit file can severely hamper your chances of obtaining any credit. Your credit health can determine whether you can take out credit cards, personal loans, car loans, enter into mobile phone plans, and of course take out a mortgage.

    What can I do to fix my credit rating?

    After checking your credit file, there are three things to consider:

    1. The accuracy of the report.  If there are errors, however small, you have the right to have them rectified.  Likewise, if there are numerous strange defaults and or applications for credit that we don’t recognise – contact Police immediately in case of identity theft.

    2. Check you were informed of any intention to list.

    3. Check the fairness of the listing.

    If your file does contain defaults, writs or judgments that you believe are incorrect, unjust or just shouldn’t be there, there is a good chance they can be removed.

    You can work with your own credit file to have the defaults removed, or you can contact a third party ‘professional credit repairer’ to help you.

    How can a professional credit rating repairer fix my credit rating?

    If people find inconsistencies on their credit report, in the past they have run into difficulty trying to get the offending black marks removed.

    Listings are not removed by creditors unless the credit file holder can provide adequate reason and lots of evidence as to why the listing should not be there. Many individuals find it extremely difficult to apply the letter of the law in their own circumstances and so end up seeking someone out a professional credit repairer, who can work on their behalf.

    Credit repair requires knowledge of the legislation, lots of evidence, tenacity and perseverance – which a good quality professional credit repairer will have.

    Professional credit repairers have also built successful relationships with agencies and creditors alike, and have a better ability to negotiate the listing’s removal on the client’s behalf.

    What can I do to ensure I maintain credit file health?

    1. Pay all accounts on time. This is the easiest way to ensure there are no adverse listings on your credit file.  If you are struggling to make repayments – contact the creditor about a repayment scheme.

    2. Regularly obtain a copy of your credit file – once a year is recommended to ensure accuracy.

    3. Be aware of excessive credit enquiries. If you are not sure about your credit health, you should get it checked before applying for new credit.  Some lenders are rejecting loans for as little as two enquiries in 30 days, or six enquiries within the year. Also avoid ‘shopping around’ for credit, as whether or not the loan was approved doesn’t show up on your credit report – only the fact that you made the enquiry.

    If you are seeking advice on credit file health from a professional credit repairer, contact MyCRA Credit Rating Repairs on www.mycra.com.au or tollfree 1300 667 218.

    Image: Imagerymajestic/ FreeDigitalPhotos.net

  • Refinancing plans could be ruined by errors showing bad credit history

    Consumers have been urged to move their mortgage away from the ’big four’ banks  as a response to the raising of home loan rates this month, despite record profits. But any home owner looking to refinance needs to consider they could have a surprise bad credit history. It is important for them to check their credit history prior to making any finance application, even if they think their repayments have always been met on time.

    By Graham Doessel, founder and CEO of MyCRA Credit Repairs and www.fixmybadcredit.com.au.

    This month all four of the big banks – ANZ, Commonwealth, Westpac and NAB – raised their interest rates despite the Reserve Bank of Australia keeping the official rate on hold.

    Consumer watchdog ‘Choice’ launched a  campaign ‘Move your Money’ recently, urging Australians to change from the big four banks to save money and drive competition.

    “The CHOICE Move Your Money campaign is about consumers standing up and saying ‘enough is enough’, sending the big four bank CEOs a message in a language they understand,” says Christopher Zinn, CHOICE director of campaigns and communications.

    “The major banks rely on perceptions that switching is too much hassle or that there are no better deals out there. But experience shows that consumers can save by also ‘thinking small’, and moving your money is now easier than before,” says Mr Zinn.

    But rushing in to refinancing may not be sensible for everyone in today’s market.

    Home owners need to calculate the in and out fees that may be present on any new loan prior to making the switch.

    Also prior to making a re-financing application, home owners should check their credit file, as their credit history could contain inconsistencies they aren’t aware of.

    Regardless of whether people have been diligent payers, creditors can and do sometimes make mistakes with credit files and they can end up with black marks against their name that just shouldn’t be there.

    Sometimes people don’t know their good name is compromised until they apply for finance or in this case re-finance and are refused.

    The reason home owners should perform a credit file check prior to finance application, is because sometimes too many credit ‘enquiries’ can also hinder finance approval.

    If a credit enquiry from a lender finds a default against a person’s name, warranted or not, they will be refused finance. That lender’s ‘enquiry’ now shows up on the credit file for 5 years along with the default, creating two negative entries instead of one.

    A bad credit rating can result when a bill or repayment goes unpaid past 60 days. After this time, a creditor has the right to list that non-payment as a ‘default’ on the person’s credit file.

    In the current finance market, any black mark generally results in an automatic decline with the major lenders.

    The volume of credit file errors on Australian credit files is uncertain.

    A Veda Advantage spokesperson recently estimated 1% of the 250,000 credit reports they give out as a credit reporting agency to Australians every year contain a material error on the credit file.

    But the Australian Consumer Association (now Choice) survey from 2004 revealed that 34% of the credit files surveyed in their small scale study contained errors or inconsistencies.

    Approximately 63% of the clients who request credit repair have defaults, writs or Judgments which are listed in error on their credit file.

    We have clients who are facing identity theft; some are caught in issues over separation from their spouse; some have been disputing the bill which went to default stage and many people are just victims of the fallout from inadequate billing procedures – wrong names, wrong addresses, human and computer errors.

    Under current credit reporting legislation, consumers are entitled to obtain a copy of their credit report from the credit reporting agencies once a year. A person requesting their own credit report does not generate a ‘credit enquiry’ on their credit file.

    People need to contact all the credit reporting agencies to request their report – as creditors have access to 3 agencies within mainland Australia and 4 in Tasmania. The report must be provided to them in writing within 10 days of the request.

    Listings are not removed by creditors unless the file holder can provide adequate reason and lots of evidence as to why the listing should not be there.

    Credit repair requires knowledge of the legislation, lots of evidence and perseverance. But for those people whose financial freedom is hindered because their credit file contains errors, it is a point worth fighting for.

    People can contact MyCRA for help with getting a free copy of their credit file on 1300 667 218 or visit www.mycra.com.au.

    Image: Salvatore Vuono/ FreeDigitalPhotos.net

  • 8 things you need to know before making a home loan application

    In the 21st Century, ensuring approval on a home loan application can be complicated. Not only are savings, income and debt level all taken into consideration, but also if the person has a bad credit history. We tell you 8 things you should take into consideration before submitting a home loan application.

    By Graham Doessel, founder and CEO of MyCRA Credit Repairs and www.fixmybadcredit.com.au.

    1. Savings.

    Today’s mortgage market is much more conservative, and you may require more savings than you did, say 5 years ago.

    People with a lower income or who have more debts may be required to save closer to 10% deposit -and should enquire with a lender on where they stand in the current market.

    2. Income amount.

    The amount of income required is generally determined by the amount of income earned relative to debts and expenses.

    So, the more you earn, and the fewer debts you have, the more you will be able to borrow. If you are on a lower income, it may be worth paying off existing debts before submitting a home loan application. Also, the more deposit you have saved, the lower the income requirements on the same loan.

    3. Stable employment.

    The lender will also want to be assured of a stable income – they want to see evidence of a stable amount with a stable employer.

    Generally lenders are requiring 6-12 months with the same employer. So if you’re thinking about buying a home, best to think twice about changing jobs, even if the wages are significantly better in the new position.

    4. Debts and Credit limits.

    The lender will generally assess your debt level to determine the amount you are able to borrow. Reducing your debt can increase borrowing power.

    ‘Debt’ also includes the credit limits which are present on any credit cards or line of credit loans you may hold.

    So if you have a credit limit of say $20,000 on your credit card, the debt amount on that card will be stated as $20,000, regardless of the actual amount owing on the card.

    With this in mind, it might be a good idea to reduce any credit limits on cards or loans prior to a home loan application.

    5. Credit file checks.

    The lender will perform a routine credit file check on you to make sure there are no negative listings. This can be a default, clear out, Judgment, Writ or bankruptcy which was placed on your credit file by a creditor.

    The most common type of negative listing is a default, which can be placed on your credit file if you fail to make repayments on any form of credit past 60 days. This includes unpaid telecommunications and utilities bills.

    Defaults and Judgments remain on your credit file for 5 years, with clear outs, Writs and bankruptcies showing for 7 years.

    Most of the major lenders will refuse to lend to you if you have a bad credit history of any kind. In fact, you would probably have difficulty even getting a mobile phone plan.

    6. Excess credit enquiries.

    Whenever a person other than you makes an enquiry on your credit history – that enquiry is recorded your credit file. Currently, Australia is under a negative reporting system, so there is no way of seeing on your credit report if the loan was approved or not, only that the application was made.

    Some lenders are refusing applications due to too many credit enquiries, such as two enquiries within thirty days or six within the year.

    Ensure when you enquire about any home loan, that the lender is not making an actual application on your behalf until such time as you want to make it official.

    7. Obtain a free copy of your credit report

    If you intend to purchase a home within the year you should request a copy of your credit report. Under Australian law, this report is free every 12 months.

    There are 4 credit reporting agencies in Australia, Veda Advantage, Dun & Bradstreet, Tasmanian Collection Services (if in Tasmania) and new entrant Experian. You can obtain your credit report from one or all of these agencies. The report will be mailed to them within 10 working days of the request.

    It is essential for you to know what is being said about you on your credit file before applying for a home loan.

    There is the potential for creditors to make mistakes with your credit file. So if you are credit active you should check your credit file, regardless of how diligent you believe you are with repayments.

    8. Repair bad credit history.

    If you find listings on your credit file that contain errors, or simply should not be there, current legislation allows you to have those inconsistencies rectified.

    Defaults can be amended and marked as paid if the account has been settled, but this may not be enough to ensure finance approval.

    Unfortunately bad credit history is not cleared by creditors unless you can provide adequate reason and lots of evidence as to why the listing should not be there.

    If you have neither the time, knowledge or patience for credit repair you can seek out a professional credit repairer who will be able to work on your behalf to negotiate with creditors to have the negative listing or default removed.

    A clear credit record will allow you to choose the best loan for you, with the best interest rate.

    Contact MyCRA Credit Repairs for help in getting your bad credit history sorted out – call tollfree on 1300 667 218 or visit our main website www.mycra.com.au.

    Image: vichie81/ FreeDigitalPhotos.net

  • How can I fix my bad credit rating fast?

    “Fix my bad credit” – Sounds good  – so what’s that all about? As credit rating repair specialists, we get asked time and again to rebuild your credit history so you can get that car, that home, that credit card or basically restore your financial future. Here is a look at how we can help you rebuild your credit and rebuild your life.

    By Graham Doessel, Founder and CEO of MyCRA Credit Repairs, and www.fixmybadcredit.com.au.

    “Hello MyCRA Credit Repairs. I am going for a home loan, and the broker tells me when they checked my credit report, they found a default against my name. I had no idea! How can I find out what went wrong and how I fix my credit rating? Our family really has its heart set on this house and it looks like we’re going to lose it! Can you fix my credit report so I no longer have a default?”

    This is the story of many of our clients. It is not until they apply for credit that the lender obtains a copy of their credit report.  It can be devastating to find out you have a bad credit rating and even more devastating to know that your dreams of owning that home could be slipping away because of it.

    Let me tell you, it might not be all lost.

    If there are any adverse listings on your credit file which you believe are incorrect, contain errors or just should not be there – then you have the right to have those credit file errors removed.

    The problem with attempting to dispute errors on your credit file with creditors yourself is two-fold. Without knowledge of the legislation, people almost invariably get caught in legal ‘loop-holes’ which see the default, writ or Judgment left on the credit file, or at best see the listing marked as ‘paid’. Both of these results DO NOT give you that home or car loan as lenders still consider even a paid listing as bad credit history.

    Secondly, by talking to creditors themselves about credit file errors, people can accidentally ‘alert’ creditors to any mistakes they may have made in the initial method of credit reporting – allowing them to fix up their mistakes and negate the need to remove the credit file default which was placed in error.

    If you are just starting out and wondering “How can I fix my bad credit?” then the best course of action is to instill the help of a credit repairer before you do anything yourself. Ask them to check if they can rebuild your credit.

    What does a professional credit repairer do?

    A professional credit repairer will help you get a copy of your credit file and go through the bad credit history with you. They can then use their knowledge of credit reporting legislation to see where any errors in credit reporting were made, and help to enforce the legislation that creditors are bound to comply with.

    If they are successful, you not only get help with removing errors, but many times you are able to start off with a completely clean credit rating. They have the ability to completely rebuild your credit rating, allowing you to start off with a clean slate and give you the opportunity to go for any loan you choose at the best interest rates.

    Find out more by going through these 6 simple steps to credit repair:

    Or call MyCRA Credit Repairs tollfree on 1300 667 218.

    Image: m_bartosch / FreeDigitalPhotos.net

  • How to dispute a bill and keep a clear credit file

    What many credit repairers don’t want you to know…There’s a wrong way to dispute your bill. The wrong way can lead to bad credit history – leaving you unable to obtain credit for 5 to 7 years. Here is how you should dispute your telephone, internet, energy or basically any bill which you disagree with before it ruins your credit file.

    By Graham Doessel, CEO and founder of MyCRA Credit Repairs and www.fixmybadcredit.com.au.

    Customers who refuse to pay a bill because they believe it has errors are making a grave mistake that could harm their ability to get credit in the future.

    One of the most common mistakes people make which leads to bad credit history is not paying a disputed bill by the due date.

    Creditors make mistakes with billing all the time, otherwise however infallible they may like to think their system is, otherwise there would be no need for professional credit repair.

    It can be really difficult getting the matter resolved with some creditors. But no news is definitely not good news.

    Where many customers go wrong, is assuming just because they have spoken to someone on the phone about the bill, they are no longer obliged to pay it by the due date.

    Under current credit reporting legislation, an account which is more than 60 days late can be listed by the creditor as ‘unpaid’ on the customer’s credit file. This is regardless of whether the customer believes there are errors in the details of the bill or with the payment amount.

    Many clients dispute the offending bill with the company and made the mistake of leaving the bill unpaid well past the due date while waiting for correspondence from the company. Many are not aware they have incurred a default anyway, until they apply for credit in a different circumstance.

    These defaults remain on a person’s credit file for 5 years. Under current legislation, defaults generally don’t get removed from a credit file, but can be marked as paid if they have been paid.

    Currently, defaults – even those that are marked as ‘paid’, will prevent you from obtaining a home loan with most lenders. In fact, even having a few too many credit enquiries can be enough for an automatic decline.

    So it’s really important we don’t leave ourselves open to having a default listing slapped on our credit file, ruining our good name.

    Here is the process people should take when disputing a bill in Australia:

    1. Contact the bill provider as soon as you receive the bill and attempt to resolve the discrepancy.

    2. Make a note of the date of all conversations, the name of each person you speak to and the nature of the discussion with each. Note any resolutions that were reached and ask that those be emailed or sent to you in writing.

    3. If the credit provider fails to honour the discrepancy, advise them you will be contacting the appropriate ombudsman.

    4. If the due date for the bill approaches and the issue has not been resolved, pay the bill by the due date. You can always seek reimbursement at a later date, but this will prevent a default for that bill being listed on your credit file.

    5. If there is still no resolution, take the matter further, usually with the appropriate Ombudsman.

    So don’t assume anything or take someone’s word for it, get it in writing and preserve your clear credit file.

    If you already have bad credit history from a bill dispute that went wrong – it may not be all lost. The best way to fix your credit score is to seek professional credit repair.

    Australian credit reporting legislation allows for you to resolve any inconsistencies on your credit report. But the problem with attempting to dispute errors on your credit file with creditors yourself is two-fold. Without knowledge of the legislation, people almost invariably get caught in legal ‘loop-holes’ which see the default, writ or Judgment left on the credit file, or at best see the listing marked as ‘paid’.

    Both of these results DO NOT fix your credit rating because lenders still consider even a ‘paid’ listing as bad credit history. Secondly, by negotiating with creditors, people can also accidentally ‘alert’ creditors to any mistakes the creditor may have made in the initial method of credit reporting – allowing them to fix up their mistakes and negate the need to remove the credit file default which was placed in error.

    Good professional credit repair gives you the best chance at fixing your credit.  A credit repairer can help you get a free copy of your credit file, and go through the bad credit history with you. They can then use their knowledge of credit reporting legislation to see where any errors in credit reporting were made, and help to enforce the legislation that creditors are bound to comply with.

    If they are successful, you not only get help with removing errors from your credit file, but many times you are able to start off with a completely clean credit rating.

  • As confidence returns, home buyers need to fix credit problems

    Good news may be on the horizon for the Aussie mortgage market. Mortgage sales for January 2012 have revealed a significant return in confidence for home buyers. But with that renewed confidence should come a forewarning for home buyers about how to make the most of preparations of savings records, wages and stability through matching it with a credit ‘clean up’ for easier finance approval.

    By Graham Doessel, Founder and CEO of MyCRA Credit Repairs and www.fixmybadcredit.com.au

    According to AFG (Australian Financial Group), mortgage sales for January 2012 have soared above figures for last year. It released its AFG Mortgage Index last week in which it showed national mortgage sales increased by 40% this January compared to last year. AFG says the changes mark a return to more normal trading levels.

    Sales in Queensland were up 80.6% and in South Australia 84.5%, with other states showing significant uplifts compared to January 2010 ? WA (+ 37.4%), Vic (+25%), NSW (+14.5%).

    January also saw WA take over from NSW as the most popular state for First Home Buyers. Almost one in five new mortgages (19.1%) in WA was arranged for First Home Buyers compared to 14.0% in NSW. Through the second half of last year, NSW led the country as the most active First Home Buyers market.

    However NSW retains its position as the most popular state for investment, with 40.2% of loans there arranged for investment purposes, compared to 36.8% in Victoria, 34.9% in Queensland, 32.6% in Western Australia and 32.0% in South Australia.

    Although confidence might have returned, there will still be a significant number of home buyers who fail to realise their home ownership dreams due to a bad credit report. It is estimated there are approximately 3.47 million Australians who have a bad credit rating (negative listings on their credit file). (Veda November 2008).

    As credit repairers, we meet many people who seek help to fix credit problems, and astoundingly, many of those people should qualify for a home loan. It may surprise people to know that many prospective borrowers we see have significant savings records, or even currently own property and have good income. They can be knocked back for finance by a bad credit history that should not be there.

    Do you need a credit clean up?

    Many credit files contain errors or inconsistencies due to simple human error from creditors, or from creditors simply not complying with credit reporting legislation. Often it is not until people apply for a home loan that they find out about them. Even if people already own property, they can be banned from refinancing, investing, or from upgrading their home due to credit rating defaults or other credit file problems.

    Any negative listing – from defaults, to Judgments and even excess credit enquiries will stop most people from getting a home loan in this market, or force them into a high-interest loan, costing them thousands more in interest.

    Negative listings remain on a person’s credit file for 5 -7 years, depending on the listing type. These black marks can show up for outstanding bills as low as $100.

    Credit file errors

    A survey by Choice Magazine as far back as 2004 points to approximately 30% of the credit files in the survey likely to contain errors. That’s a staggering amount of credit file errors potentially out there.

    Recently Channel 7’s Today Tonight interviewed Veda Advantage’s Head of External Relations, Chris Gration on the possible number of errors on credit reports. He admitted errors within their system alone amounted to 1%.

    “We give out about 250,000 credit reports to consumers every year. But only in 1 per cent of cases is there a material error on the file, so a default or an enquiry that’s incorrect,” Mr Gration told Today Tonight.

    Even if as little as 1 per cent of those 14 million credit files contained errors, that would still currently leave 140,000 credit files in Australia containing errors that just shouldn’t be there.

    The nature of credit reporting is that there is much opportunity for human error and these errors are usually not uncovered until people go about checking their credit file. Often people are unaware of their responsibility to maintain the accuracy of their own credit file – and so they don’t find out about their credit issues until they apply for a home loan.

    Then, once people find problems with their credit file – they often find the process of removal of errors from their credit report difficult.

    What is the best way to fix credit problems?

    Current legislation does allow people to have inconsistencies removed from their credit file, but in reality many people are not successful when they attempt to fix it themselves.

    Often it is because they are not schooled enough in the legislation or can’t devote the necessary time to it to ensure a successful credit repair. Sometimes people who attempt to fix credit problems themselves can do more harm than good through lack of knowledge, or difficulty in negotiating with creditors or by alerting them too early to mistakes on the credit file.

    A borrower’s credit file is one of the key factors to home loan approval. People should not underestimate this factor.

    Make it right with a credit file check and credit clean up before you apply for a home loan

    It is important to get it right, and the onus is on the credit file holder to maintain its accuracy. House hunters can and should request a free copy of their credit file every year from one or more of the credit reporting agencies such as Veda Advantage, Dun and Bradstreet or Tasmanian Collection Services (TASCOL) if Tasmanian.

    A free copy of their credit report will be mailed to them within 10 working days. A creditor may have place a negative listing with all or one of these credit reporting agencies. If there are any inconsistencies, they should seek a reputable credit repairer for a credit clean up.

    ABS Statistics differ

    AFG statistics are currently projecting significantly more confidence than the latest data from Australian Bureau of Statistics figures shows, particularly in Queensland.

    The November Lending Finance Statistics show the number of owner occupied housing commitments in Queensland stayed flat in October to November, recording a 0.0% change in Queensland.

    We will watch avidly to see if data from AFG matches with the ABS’ review of January housing finance and lending statisitcs due out in March.

    For brokers, agents and property owners – rising mortgage rates in many states and particularly in post-flood ravaged Queensland, would be very good news indeed.

    Image: Danilo Rizzuti/ FreeDigitalPhotos.net

  • Australia still one of most unaffordable places to live?

    A housing survey reveals Australia as completely unaffordable…so how come so many people are so eager to fix their bad credit report and get in to the property market in Australia?

    By GRAHAM DOESSEL CEO of MyCRA Credit Repairs and www.fixmybadcredit.com.au.

    The Demographia International Housing Affordability Survey has continued to place Australia amongst its most unaffordable places to live, with our country held as the second most unaffordable housing market.

    325 urban markets were featured in the survey, from the United States, UK, Canada, Australia, Ireland, New Zealand and Hong Kong. It rates housing affordability, based on the Median Multiple – that is, the median house price divided by the gross annual median household income of specific urban markets, for the 3rd Quarter of the previous year.

    Featured in Broker News, the survey pinpointed Sydney as the third costliest city in the world – dropping it one spot from last year.

    But overall affordability is still looking grim for Australia on a world scale, according to Demographia.

    “While Hong Kong is the most severely unaffordable housing at a staggering 12.6 Median Multiple (the highest ever recorded within the history of the Surveys) – Australia with its abundant land supply has the most pervasive housing affordability problem (5.6 MM); followed by New Zealand with a small population of just 4.4 million (5.2 MM); the United Kingdom (5.1 MM); Canada (3.5 MM); Ireland with its housing bubble collapsing (3.4 MM) while the United States overall is affordable (3.0 MM),” Demographia says.

    Australia’s national unaffordability ratio came down from 6.1 times in 2010 to the still ”severely unaffordable” ratio of 5.6 times. They claim reduced house prices helped slightly improve the rating.

    So are we struggling to keep our heads above water in this country? That point is interesting.

    Certainly our homes are expensive, and it is a struggle for many people to break in to the housing market. Coupled with the tight lending criteria of banks, including requiring a squeaky clean credit rating, who could be blamed for thinking we live in a very unaffordable country?

    The Australian Property Forum argues differently. It says the Demographia survey should be ‘debunked’ and is not an accurate reflection of Australia’s affordability scale:

    “But almost half a million families and individuals bought homes in Australia last year. So while housing may be unaffordable to some (has it ever been otherwise?) plenty of people do seem to be able to afford to buy houses. So how come so many people are buying houses in a country that Demographia claims to be completely unaffordable? APF says.

    APF says there are substantially different factors impacting the housing markets in each country:

    * Differences in tax rates and cost of living pressures across various countries make a comparison of spending power based on gross income meaningless.

    * A better measure of a household’s ability to afford property would be to consider household discretionary income and total wealth. This would include non-wage income (such as income from interest, shares or other investments), and wealth stored in other assets (such as shares or equity in existing property) that may be liquidated or borrowed against in order to fund a new property purchase

    * Rental income (and real income from any other investments including savings interest) should be included, along with any liquid assets or easily leveraged assets such as equity in existing property. The reality is that people can and do use those forms of wealth to buy property.

    * The official median house price figures that Demographia use for Australia are sourced from the Australian Bureau of Statistics. However these ABS figures only include freestanding houses. They don’t include units or townhouses, meaning that Demographia are overstating median house prices in Australia compared to the other countries assessed in their survey (countries where units and townhouses are included when calculating the median house price).

    So what is the real measure of affordability?

    I am sure millions would suggest housing is unaffordable for them, particularly in our capital cities where the dream of home ownership has become a distant memory for many first home buyers.

    But in reality, people are still managing to purchase.

    Every day, we see hundreds of people desperate to buy homes. Who CAN afford to buy, but who are held back not by affordability but by their bad credit history.

    I guess the truth lies somewhere in the middle.

    For more information on credit repair before buying a home, contact us on 1300 667 218 or visit the main site www.mycra.com.au.

    Image: vichie81 / FreeDigitalPhotos.net

     

  • How to improve your credit score: what to do when you have a bad credit history

    Help for frustrated Australians who find out they have a bad credit rating.

    By GRAHAM DOESSEL – CEO and founder of MyCRA Credit Repairs and www.fixmybadcredit.com.au.

    There are approximately 3 million Australians* with adverse listings on their credit file, also known as a ‘bad credit rating’. Adverse listings can include, default listings, writs, Judgments, bankruptcies*, even excess credit enquiries. All of these can impact your ability to obtain credit. The consequences of having any issues with your credit file include home loan refusal, personal loan declined, and even being turned away from getting a mobile phone plan.

    One problem is many people go searching on the internet for help with ‘improving their credit score’. This is most commonly an American term which has no bearing on Australian credit reporting law.

    The Australian credit reporting system is currently a ‘negative’ reporting system. Only negative entries are included, and generally when a lender requests a credit report and sees listings on your credit file, they will be seeing these entries as negative. The laws are currently undergoing changes – but as a general rule – you don’t want late payments, defaults or credit errors holding you back from an otherwise perfect ability to service a loan or forcing you into choosing a loan at sky-high interest rates. You could pay thousands extra on a higher interest rate than your standard variable rate.

    So you may be wondering, how then, can I fix my bad credit?

    Well it depends on what comes up on your credit report….

    The first thing you need to do is request your credit report. This can be obtained from one or more of the credit reporting agencies, and is a file on all of your credit information. You can request a copy of your credit file for free every 12 months.

    If there are any adverse listings on your credit file which you believe are incorrect, contain errors or just should not be there – then you have the right to have those credit file errors removed.

    The problem with attempting to dispute errors on your credit file with creditors yourself is two-fold. Without knowledge of the legislation, people almost invariably get caught in legal ‘loop-holes’ which see the default, writ or Judgment left on the credit file, or at best see the listing marked as ‘paid’. Both of these results DO NOT give you that home or car loan as lenders still consider even a paid listing as bad credit history.

    Secondly, by talking to creditors themselves about credit file errors, people can accidentally ‘alert’ creditors to any mistakes they may have made in the initial method of credit reporting – allowing them to fix up their mistakes and negate the need to remove the credit file default which was placed in error.

    If you are just starting out and wondering “How can I repair my bad credit?” then the best course of action is to instill the help of a credit repairer before you do anything yourself. They can help you get a copy of your credit file, and go through the bad credit history with you. They can then use their knowledge of credit reporting legislation to see where any errors in credit reporting were made, and help to enforce the legislation that creditors are bound to comply with.

    If they are successful, you not only get help with removing errors, but many times you are able to start off with a completely clean credit rating. You have a clean slate and can go for any loan you choose at the best interest rates.

    Once you have those defaults removed, then you can certainly ‘improve’ your credit history in the future with these 5 easy steps:

    1. By ensuring all bills are paid on time. Keep track of and be aware of any stray bills – particularly when major changes are occurring in your life like moving house, divorcing, death, and illness.

    2. By using credit. Having no credit history means there is nothing to calculate and the risk appears high to lenders. We should start by borrowing something small. Repaying mobile phone plans, internet accounts, or store credit on time will appeal to anyone checking our credit report.

    3. Obtain a credit report every 12 months. This ensures there are no errors on your credit file. Sometimes human error means the wrong person gets the bad credit file entry, or adverse listings are entered incorrectly or unlawfully. If in doubt, talk to a credit repairer.

    4. Beware excess credit enquiries. Only apply for credit you feel you have a very good chance of being approved for, and only applying for credit we have full intention of pursuing.

    5. Show stability. If you are thinking about applying for major credit in the near future, consider that lenders are looking for a stable address, stable income stream and regular savings as well as a squeaky clean credit file to help with assessing your suitability for a loan.

    * Veda Advantage 2009

    * MyCRA Cannot remove bankruptcies from credit files

    Image: graur razvan ionut/ FreeDigitalPhotos.net

  • NCCP class action is passing the buck

    A class action against banks for irresponsible borrowing – seems unlikely when considering how hard it is for so many to get a home loan in this country – particularly for those people with a bad credit history.

    By GRAHAM DOESSEL CEO of MyCRA Credit Repairs and www.fixmybadcredit.com.au

    As discussed with Kevin Turner of Brisbane’s 4BC Real Estate Talk.

    Australian banks are being brought to answer under new NCCP legislation with a massive class action instigated by struggling borrowers, according to Broker News.

    The lawyers of 300,000 struggling bank customers are putting together a case alleging bank lending has put borrowers at risk. The case will be built around first home buyers and lower income households who have received loans since the onset of the financial crisis.

    It will allege that some of these borrowers are experiencing severe financial hardship through no fault of their own, through being allowed to enter a loan contract that they could not afford.

    The case is being spearheaded by retired international insurance broker Roger Brown, according to Fairfax Newspapers, who has been quoted as saying the way banks have been lending has been “irresponsible”.

    In my view, borrowers need to take responsibility for understanding the commitment they are entering. Anyone who signs a contract should not do that lightly – a loan is a serious commitment which stretches for longer than many first home buyers have been alive. Buyers need to be comfortable in it long term, allowing for future changes that no bank can calculate on.

    If people only just qualify for the mortgage with the first home buyer’s grant, and then they go and add further and further credit commitments to the mix, of course they are going to run into trouble. But how can that be the bank’s fault? The First home buyer’s grant is intended as government assistance, not as help to prop up people who would otherwise fail to qualify.

    In real terms our system makes it extremely difficult for people to get a home loan and heaven forbid them having a bad credit rating for not paying a bill on time.

    We help more and more clients with a bad credit rating every day. These people have saved for a deposit for years, only to have their dream of home ownership ripped out from under them because of something like a small Telco default.

    If the banks had in some way falsified information, then of course that would be irresponsible and deserving of a class action. But if these buyers have really just failed to fully understand their own responsibilities and the ramifications of late payments until it was too late, then I don’t believe that is grounds for suing the banks.

    What is needed is more education in general from governments and the industry, and that would be a great outcome for Australian borrowers in general.

    People need to understand credit from a young age, how it can work for them, what can go wrong and how much is too much. They need to be educated about their credit rating and how essential it is to keep a clear credit file.

    For more information on how a bad credit rating affects people’s lives, to order a free credit report or to learn how to fix a bad credit rating, visit our main website www.mycra.com.au or call us tollfree on 1300 667 218.

  • Don’t let a bad credit rating force you into unsuitable finance

    The Age recently reported on a Tribunal hearing involving a well-known finance company.

    The Victorian Civil and Administrative Tribunal found that a motor trader who primarily targets people with bad credit history had a leasing process which was seriously flawed and in urgent need of change.

    The customer in the case lived on a low income, had been through a bankruptcy and suffered from chronic depression. The Tribunal found the company used inaccurate financial analysis, unfair tactics and unreasonable pressure to get the client to sign a contract.

    After the hearing the company was ordered to set aside a car lease and compensate its customer.

    Read more: http://www.theage.com.au/money/borrowing/credit-scoring-hammered-20110607-1fpp2.html#ixzz1OvztZSXi

    The above example may not be a true reflection of all transactions with the motor trader in question. But it does highlight the need for people who find themselves in a situation where they cannot use the major lenders to do adequate research before deciding on alternative finance.

    People with a bad credit rating have their options severely limited when it comes to obtaining finance. Most of the major lenders refuse to lend to someone with a bad credit history – often with good reason.

    A person’s credit history shows their ability to repay a debt. Under Australia’s new responsible lending laws, it would not be ethical to offer further credit to someone who already demonstrates problems with repayments.

    The thing is many people with a bad credit rating still need to buy cars, live in houses and use phones.

    What are the options for someone in this situation?

    Well, it depends on what a person’s credit file reads like. In the situation above where the consumer has a bankruptcy on their file – the options are unfortunately limited.

    But a little more research, perhaps leasing a cheaper car and having a trusted adviser help in negotiations with finance companies, or even going away and thinking about it before signing may have helped the customer in this situation.

    In many other cases, people can take the above option, or they can discover whether they may be suitable for credit repair.

    Credit repair is an option for any person who has a default, writ or Judgment on their credit file which they believe is inaccurate, is unjust or just should not be there.

    A successful credit repair allows the consumer to have the black mark/s completely removed from their credit rating.

    This lending options that they would have had prior to the blemishes on their credit file. So, they can borrow at a lower interest rate with the lender of their choice (provided they meet all other criteria of course).

    This can potentially save them thousands of dollars in interest alone.

    Credit repair is not encouraged as an option for a consumer who truly has a problem repaying debt. This person should look at minimising as much credit from their lives as possible, and possibly entering into some financial counselling, so that when they are able to borrow again, they don’t repeat the cycle.

    However, there are a large number of people with a bad credit rating who are not struggling with repayments. They are simply carrying the bad credit rating unfairly.

    Many people are victims of simple and sometimes complicated errors with billing procedures from creditors, are victims of identity theft, have had joint lending situations go wrong (such as divorce, guarantors etc) or have had the default listed incorrectly.

    Despite all of these very fair complaints many consumers have been unable to settle the account themselves with the creditor and unable to remove the offending default, writ or Judgment from their credit file.

    They are then left to navigate the world of ‘bad credit history’ finance, which can sometimes leave them with more problems than when they started, due to the often high interest rates involved.

    So if people know anyone, or are in the situation themselves where they do have a bad credit rating which shouldn’t be there – it could be good advice to get them to seek out a reputable credit repairer to review their credit file and help them back to financial freedom.

    Contact www.mycra.com.au for more information on credit repair.

    <p><a href=”Image” _mce_href=”http://www.freedigitalphotos.net/images/view_photog.php?photogid=879″>Image”>http://www.freedigitalphotos.net/images/view_photog.php?photogid=879″>Image: luigi diamanti / FreeDigitalPhotos.net</a></p>