MyCRA Specialist Credit Repair Lawyers

Tag: credit file

  • The Top 7 Credit File Myths Costing Brokers More Than $50,000 Every Year

    Media Release

    The Top 7 Credit File Myths Costing Brokers More Than $50,000 Every Year

    7 June 2012

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

    Credit reporting is governed by mountains of legislation across different industries. Often we can assume that this system is working, but in reality it doesn’t always work effectively.

    The fall-out from this is credit rating errors on consumer and business credit files that affect your brokerage business.

    Here are 7 myths about credit files that could be costing you thousands in lost commission:

    1. Consumers always know they have bad credit before they apply for a loan.

    Many brokers assume if a client’s credit check reveals a negative listing on their credit file that wasn’t disclosed, they must have been trying to hide it. Whilst this is sometimes the case, there can be many reasons for people not to know they have bad credit until they apply for credit.

    If your client has moved addresses they may not have received the appropriate warning notices or notification of the credit listing; or they may have been the victim of identity theft; been hospitalised; been incarcerated ;  been traveling overseas or been a victim of a system error or human error with the creditor.

    All of these instances can see people end up with a bad credit listing without them knowing it. In many instances the listing has been placed on the credit file unlawfully. Rather than turn these clients away, why not refer them for credit repair.

    2. Credit file listings are always correctly placed on credit files.

    Credit reporting mistakes can and do happen – and it is up to the consumer to ensure that their credit file reads accurately. But if many are not aware they even have bad credit, many more are unable to recognise credit file errors.

    Wrong names, wrong addresses, incorrect notification provided, a Creditor not adhering to the letter to credit reporting legislation, and a Creditor entering a listing which the Client believes should not be there can all potentially be grounds for requesting for the removal of the listing. Credit file errors happen every day. So if the client is at all unsure about the validity of the listing, and the method in which it was listed, they are likely candidates for successful credit repair.

    3. Credit file complaints are easily disputed.

    Some brokers assume that if the listing should not have been there, that it should be fairly easy for the client to request its removal. They assume if the listing is still there – the client must be deserving of it.

    In reality, once a listing has been placed on a credit file, it is very difficult to have removed. So even if the listing shouldn’t be there, most often clients are forced to put up with it for 5-7 years, depending on the listing type. Often clients are told the listing can be marked as paid, but will not be removed from the credit file (unless of course they are lucky enough to know about professional credit rating repair).

    4. If a Default or Clearout is on the credit file it can never be removed prior to the end date.

    On the other hand, if brokers are aware how difficult removing adverse listings can be, sometimes when they see the option of credit repair, they assume it must be a ‘con’, as in their experience listings are never removed from a credit file before the drop off date.

    In truth, unless the client can show why the listing was placed unlawfully on the credit file it will not be removed. So in the case of overdue accounts that have been listed as defaults or clearouts on the credit file, it is up to the client (or the credit repairer acting on their behalf) to show reason as to why the listing was placed unlawfully, and negotiate the listing’s removal.

    There is a lot of legislation which clients need to be up to speed with and it is very difficult for them to apply the letter of the law to their own circumstances – which is precisely why people assume it can’t be done.

    The process of credit repair involves the investigation of the credit file, the request for information on the account from the Creditor, and the determination based on legislation as to whether the credit listing was placed unlawfully on the credit file.  If this is determined, the credit repairer will formally negotiate the removal of the listing from the credit file on the client’s behalf.

    Whilst currently there is no legislative obligation for the Creditor to remove the listing, escalation of the complaint to industry Ombudsmen and the Privacy Commissioner can all improve the chances of removal in justified cases. This legislation is also set to change in the coming months to improve credit listing complaints processes.

    5. Bad credit clients aren’t worth the trouble.

    If you have done a lot of work with a client, only to find out they have bad credit it can be tempting to close the door on them and move on to someone who can be helped more easily. It is true bad credit clients will be rejected by mainstream lenders, but in the interests of good customer service, we should look at alternatives before turning them away.

    You could refer the client for assessment for credit repair as a first option. It saves you time, the credit repairer does all the work from there, and if the client should otherwise qualify for a loan apart from their bad credit, it makes sense to ascertain whether that bad credit history can be removed prior to looking at other options for lenders or simply turning them away.

    6. A bad credit client should be steered to the non-conforming market.

    Instead if you look at your duty of care to your clients, and you believe the client should be able to obtain credit, then the non-conforming market may not be the best option as a first step.

    It would seem fitting that it be ascertained whether or not the bad credit history is valid before providing non-conforming loan options to them.

    As a successful broker in the non-conforming market for many years, with many cases I was left scratching my head as to why these perfectly suitable clients who had nothing wrong bar their credit rating errors did not have other options than to enter a loan at sky-high interest rates just to break in to the property market. That is precisely why I founded a credit repair business in the first place.

    7. Credit repair is a waste of money.

    Credit repair is not cheap, but it’s not easy either. And it is certainly valuable. You could actually be saving yourself and your clients tens of thousands of dollars.

    Clients

    On a standard loan of $350,000,a client would pay $487.62 more in interest each month in a non-conforming loan at 9% over the first three years of the loan when compared with the standard variable rate of 7%.

    When we look at that in total, the client would be up for a staggering $17,554.34 more just in interest alone over those first three years. It is well worth considering clearing the client’s bad credit and getting them into a standard loan as a first option.

    Brokers

    You can generate goodwill from clients who are saving money and potentially generate great income for yourself.

    Credit rating repair is not suitable for everyone. But for most people who get taken on, the success rate is high. For example, MyCRA have a proven track record of up to 91.7% success rate for every case they take on. This means that whilst not every file can be cleared, there is a good chance.

    If you had only two clients returned to you every month with a cleared credit file it would add $52,120 per year in lost commission to your income. This figure is based on closing two extra deals for mortgages of $355,000 each month, with an upfront commission rate of 0.6%.

    $355,000 x 0.6% comms = $2130 commission

    2 per month is $4260 per month x 12 months (or 24 a year) = $51,120 in comms

    So if you are keen on helping those people you thought were lost, why not go back through your existing databases and restore some hope to those clients that you had previously turned away by referring them for credit repair.

    About Graham Doessel and MyCRA Credit Rating Repairs.

    Graham Doessel is the founder and CEO of MyCRA Credit Rating Repairs – Australia and New Zealand’s leading credit rating repair specialists.

    Graham’s origins are in finance, and he formed/owned the award-winning non-conforming brokerage “Mortgage Now.”
    Graham is a consistent spokesperson in the media for credit reporting issues in Australia and New Zealand.

    MyCRA Credit Rating Repairs, now in its fourth year of operation, has recorded an impressive track record of up to 91.7% rate of removal of inconsistent or inaccurate negative data from the Australian and New Zealand credit reports of both consumers and commercial entities.

    MyCRA Credit Rating Repairs is nominated for the 2012 Telstra Small Business Awards and was placed 24th in the 2012 Start-Up Smart Awards.

    /ENDS.

    Please contact:

    Graham Doessel – Founder and CEO MyCRA  Ph 3124 7133

    Lisa Brewster – Media Relations  MyCRA   Mob: 0450 554 007 media@mycra.com.au

    http://www.mycra.com.au/ www.mycra.com.au.blog

    MyCRA Credit Rating Repairs is Australia’s leader in credit rating repairs. We permanently remove defaults from credit files.

    Image: Stuart Miles/ www.FreeDigitalPhotos.net

  • Smartphone users still not smartening up about cyber security

    MyCRA is a partner in Cyber Security Awareness Week 2012 running 12-15 June. The issue of smartphone security was put forward as a growing area of concern amongst information security experts. We look at the dangers of lax smartphone security – since reports show about 4000 smartphones are lost or stolen in Australia every week.

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

    Yesterday Inside Retail published research from PayPal Australia showing that smartphone users did not afford the same type of security for their smartphones that they may afford for their home computers. The article, titled Security fears over m-commerce reveals some worrying statistic on smartphone security, considering the increasing use of smartphones to perform functions normally reserved for personal computers.

    PayPal Australia’s research shows:

    One in six (16 per cent) of Australian smartphone users have lost, misplaced or had their phone stolen in the last year

    BUT only 30 per cent remotely wiped their data after losing their smartphone and less than half (43 per cent) changed their online passwords.

    AND half (49 per cent) of Australian smartphone users don’t use a passcode on their mobile device.

    Here is an excerpt from that article:

    In support of National Cyber Security Awareness Week (NCSAW), PayPal and the Centre for Internet Safety at the University of Canberra (CIS) have called for Australians to stay vigilant with their smartphones as they would their personal computers and wallets. Australians increasingly use smartphones to store a substantial amount of personal data, from bank statements to calendars to social networking profiles….

    Prashanth Ranganathan, director of mobile security and risk at PayPal is in Sydney this week in support of NCSAW, speaking to industry stakeholders about the need for consumer education as mobile payments becomes increasingly prevalent.

    “Australia is among one of the largest mobile markets in terms of smartphone penetration[fusion_builder_container hundred_percent=”yes” overflow=”visible”][fusion_builder_row][fusion_builder_column type=”1_1″ background_position=”left top” background_color=”” border_size=”” border_color=”” border_style=”solid” spacing=”yes” background_image=”” background_repeat=”no-repeat” padding=”” margin_top=”0px” margin_bottom=”0px” class=”” id=”” animation_type=”” animation_speed=”0.3″ animation_direction=”left” hide_on_mobile=”no” center_content=”no” min_height=”none”][3]. Australian consumers are increasingly using their smartphones to shop and pay while on the go but are unaware of the size of the digital footprint stored in their smartphones. By transacting through PayPal, consumers are provisioned with an additional layer of protection by ensuring their personal financial information is never stored on the physical device and never shared with businesses they are transacting with,” Ranganathan said.

    Australians are keen to take advantage of the mobile convenience of smartphone technology, but according to PayPal’s research are not protecting themselves beyond the home. Smartphone owners were three times more likely to be more mindful of the security of their wallets than of their smartphones and one in three (36 per cent) stay logged into mobile applications.

    Alastair MacGibbon, director at CIS said: “With over 12 million Australian smartphone users expected in 2012, criminals are now making moves to target mobile users. Australians must stay alert and ensure they protect themselves across all their devices. As the technology evolves and more Australians use their smartphone devices to fulfill a wider range of functions, consumers need to keep an eye out for fraudulent encounters and be educated about ways to safeguard their smartphones from cybercrime.”…

    PayPal and CIS have listed key tips to help consumers better protect themselves while transacting on their smartphones:

    • Set up your first line of defense – Enable a unique passcode so that your smartphone automatically locks when you’re not using it.
    • Know who you’re transacting with – Use reputable mobile sites and applications. Look out for trust cues like the padlock symbol before entering your financial information.
    • Watch out for duplicate applications – Cyber criminals take advantage of trusted brands by creating free applications that mimic the company’s official application. If you’re unsure, always download the application directly from the company’s website.
    • Know how you’re connected – Use a secure network to transact online and watch out for people looking over your shoulder while using free Wi-Fi networks.
    • Keep track of what you’re sharing – Be aware of the permissions your applications request from you. Review permission requests carefully and only share information that you are comfortable sharing.
    • Don’t store sensitive data on your device – never store sensitive financial data on your smartphone.
    If your smartphone is lost, stolen or misplaced, remember to:
    •Remotely wipe your data – Enable this feature at purchase so that you can use it to your benefit if you lose your device.
    • Immediately change your passwords – Change your online passwords for the mobile apps and websites that you automatically sign into, such as email, calendars, social networking sites, app stores, messengers, video sites.
    • Get help – Contact your provider or manufacturer and enquire about mobile tracking or whether they can disable your phone on your behalf.

    The rise in the use of smartphones, and mobile digital devices in general points to a need for users to be more cautious about the security of those devices, and aware of the potential for identity theft should they fall into the wrong hands.

    Smartphones, tablets and laptops give people their lives at the touch of a button – allowing access to email, bank accounts and social networking, but he says this access would be a goldmine for fraudsters.

    Research put out by AVG Security last year shows the number of mobile phones reported lost or stolen in Australia has doubled in the past five years to 200,000 annually — that’s 4000 a week, or one every three minutes.

    If people have their laptop or I-phone stolen, these days it can be the same as someone breaking into their home or stealing their PC. If the device is not secure, often there is enough information on there for a criminal to go about hacking into their bank accounts, or stealing someone’s identity and taking credit out in their name.

    Identity theft can hit twice, often with victims facing an uphill battle with their credit rating following it. Many times the identity theft victim is unaware their good name has been used until they apply for credit somewhere and are flatly refused. People may have credit applications as a minimum and possibly defaults, mortgages and mobile phones attributed to them incorrectly.

    Once an account remains unpaid past 60 days, the debt may be listed by the creditor as a default on a person’s credit file. Under current Australian legislation, defaults have to remain listed on the victim’s credit file for a 5 year period.

    What is not widely known is how difficult recovery from identity theft can be, due to defaults remaining on credit files for 5 years. Unfortunately there is no guarantee they can be removed from a person’s credit file. The onus is on the identity theft victim to prove their case to creditors.

    Security companies like AVG also have software such as ‘AVG Mobilisation’, which can help users track and locate a lost or stolen smartphone or tablet on Google Maps. They can also enable remote locking, and remote wiping allowing personal information to be removed if the device is lost or stolen. There are similar products with other security companies.

    People who suspect identity theft should report the matter immediately to Police, no matter how insignificant they think the fraud is.

    This crime is not very widely reported. But it is only through people reporting identity theft that any real statistics get collated on this issue. Likewise, if people want to try and repair their credit rating, the first thing I tell them is to make sure they have a Police report.

    For more information on identity theft risks and how people can repair their credit rating following identity theft, visit the MyCRA Credit Rating Repairs website www.mycra.com.au.

    Image above: Ambro/ www.FreeDigitalPhotos.net

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  • Cyber security is about protecting your credit rating.

    MyCRA is proud to be a partner for Cyber Security Awareness Week 2012, running this week from 12 to 15 June.  Awareness Week helps Australians understand cyber security risks as well as educating home and small business users on the simple steps they can take to protect their personal and financial information online. Today, we address the importance of cyber security for preventing bad credit history.

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

    Cyber Security Awareness Week 2012 is an Australian Government initiative, held annually in partnership with industry, community and consumer groups and state and territory governments. According to the Stay Smart Online website, cybersecurity awareness is more important than ever.

    “Australians are increasingly relying on the internet in their everyday lives for banking, shopping, education and communication. It is, therefore, important that they are able to use the internet in a secure and confident manner. The government has established a range of initiatives to raise the awareness of Australian internet users about the importance of cybersecurity and the simple steps they can take to protect their personal and financial information online.”

    One of the big risks for Australians is that their internet use will lead to fraudsters stealing their personal information for purposes of identity theft (now the fastest growing crime in Australia) and potentially fraud. The good credit rating of the victim could then be damaged.

    If cyber-crooks are able to get their hands on enough personal information they may be able to construct a fake identity, which can lead to some serious credit fraud. Fraudsters have been known to go so far as to take out personal loans, credit cards and even mortgage homes in their victim’s name.

    When the identity theft goes so far as to affect the credit file of the victim, the issues can be huge. Unfortunately fraudsters are never so kind as to pay this credit back, so the victim is often unaware of a stream of defaults run up against their name, until the apply for credit in their own right and are flat out refused.

    For between 5 and 7 years identity theft victims can be locked out of credit while their credit rating shows up someone else’s defaults.

    Unfortunately in the past it has not been easy for identity theft victims to prove they did not initiate the credit, particularly if they have no idea how they were duped in the first place.  Often this sophisticated type of fraud is instigated by overseas crime syndicates who don’t leave much of a trail, or even if they do, can’t be prosecuted easily.

    But the ability to obtain credit is so crucial to functioning well in today’s society, that if the identity theft victim has also been a victim of credit fraud, they should make their clear credit rating a point worth fighting for.

    Firstly, the victim should contact Police as soon as they are made aware of possible identity theft, they may even be able to prevent the credit fraud occurring. If it has already happened, a Police investigation and report will be a good starting point for proving the person did not initiate the credit in the first place.

    Credit file repair can be difficult for the individual, but if there is an error on a person’s credit file it is worth pursuing. It can be made easier with the help of a credit repairer. A credit repairer has extensive knowledge of credit reporting legislation and how to apply the letter of the law to the credit file holder’s circumstances to ensure the best chance of having the listing or listings completely removed from the credit file if it has been placed unlawfully, for instance if the listing contains an error, is unjust or just shouldn’t be there.

    The best thing people can do for themselves is to prevent that crime from happening in the first place. People can provide a safety buffer for themselves and their family around one of the main channels for fraudsters to enter our lives – the internet.

    To start, people can follow these top tips provided by Cyber Security Awareness Week 2012 on how to stay safe online:

    • Install and update your security software; set it to scan regularly.
    • Turn on automatic updates on all your software, particularly your operating system and applications.
    • Use strong passwords and different passwords for different uses.
    • Stop and think before you click on links and attachments.
    • Take care when transacting online – research the supplier and use a safe payment method.
    • Only download “apps” from reputable publishers and read all permission requests.
    • Regularly check your privacy settings on social networking sites.
    • Stop and think before you post any photos or financial information online.
    • Talk with your child about staying safe online, including on their smartphone or mobile device.
    • Report or talk to someone if you feel uncomfortable or threatened online – download the Government’s Cybersafety  Help Button.

    In addition, people can and should subscribe to the email notifications from Stay Smart Online Alert Service. The Stay Smart Online Alert Service is a free subscription based service that provides home users and small to medium enterprises with information on the latest computer network threats and vulnerabilities in simple, non-technical, easy to understand language. It also provides solutions to help manage these risks.

    Also, people can look at securing different sections of their internet use in more depth with the help of Stay Smart Online’s key factsheets for online security.

    They can also help raise awareness of the issue amongst their own group of family and friends and insist that anyone who has their personal information has a responsibility to keep it safe.

    People should also check their credit file regularly, and act quickly on any discrepancies there – which can often be the first sign of identity theft. Copies of consumer and business credit files can be ordered from one or more of Australia’s credit reporting agencies, and are free for the credit file holder once per year.

    Stay tuned for more information updates as Cyber Security Awareness Week unfolds.

    Image above: Victor Habbick: www.FreeDigitalPhotos.net.

     

     

     

  • More Aussies struggling with less people candidates for mainstream credit

    A recent survey shows the number of Aussies struggling to meet their credit commitments is increasing. Will late payment notations to be included on credit files as part of the new credit laws prevent this figure from continuing to increase in the future?

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

    Results from Veda Advantage’s bi-annual Australian debt study late last month showed more and more Australians are at risk of falling into a debt spiral during an economic downturn.

    Findings show that 21% of Australians are struggling to pay their current credit commitments. Despite this, a quarter also admitted they will apply for yet more credit to help them cope with an economic downturn.

    Veda’s analysis of consumer behaviours if there is a period of economic stress shows:

    • Most (66%) Australians would draw on household savings;
    • One in four (25%) would increase their credit card limit, mortgage or loan;
    • One in three, or almost 5.5 million, would borrow from family;
    • Over 3.6 million (21%) would draw on their superannuation.

    Veda claims the introduction of late payment notations to credit files as part of comprehensive credit reporting should prevent more people from falling into a debt spiral.

    Veda’s Matthew Strassburg says “…the changes to credit reporting will make credit reports fairer and more accurate for consumers looking to borrow. The new information will include a person’s current credit limit, number of credit cards and if someone has failed to make the minimum payment on a credit card or loan on time.”

    I agree, accuracy in credit reporting in Australia is paramount. Late payment notations would certainly see less people given access to mainstream credit. But the question is – how fair will this system be?

    25% of people surveyed by Veda said they would increase their credit card limit, mortgage or loan if they fell into ‘economic stress.’ But Veda fails to mention the definition of ‘economic stress.’ Possibly if the stress was certain to be temporary – some people would nominate increasing their credit limit or redrawing on their mortgage as a possible short term solution to ride out the bad period. It is not certain from the results published how many people surveyed would actually choose more credit – especially new loans as a solution to a long term financial problem.

    If some of those 25% who nominated ‘more credit’ as a solution intended to use credit for an extended period of economic stress, then certainly the introduction of late payments as part of comprehensive credit reporting would stop some in their tracks from gaining more credit – and rightly so, there are better solutions to debt stress than more debt.

    But what if the issue is a temporary one? How can mainstream lenders truly tell if someone is a bad credit risk if they have been late making one payment? At least with a default recorded – it shows the credit file holder had been at least 60 days in arrears with their repayments.

    There are so many grey areas with the introduction of these new laws, and I am nervous that more consumers than necessary could suffer a reduction in access to mainstream credit. Could more be forced to access the non-conforming market at high interest rates as an alternative? Doesn’t this further perpetuate the debt cycle and lead even more people to experience financial stress?

    One important point the Veda survey highlighted was the lack of impetus to seek help if people did fall under economic stress. It is important that people know that they can seek help if they are falling into difficulty making repayments – or they feel they may in the future.

    Veda’s analysis indicates that despite 21% of the population saying they are having difficulty coping or are unsure how they will make the next payment, only one in five had sought professional financial counselling.

    Mr Strassberg added: “People having trouble repaying should seek help from a financial professional before it’s too late, particularly lower income earners with competing debt repayments.”

    Certainly financial counselling, possibly seeking a financial hardship variation, and generally contacting a creditor prior to letting a repayment fall into arrears or into default is always the better option to avoid debt stress and bad credit history.

    If you or someone you know has bad credit history which shouldn’t be there – contacting a professional credit rating repairer can help you get your life back on track and potentially remove credit rating errors permanently.

    Image: Stuart Miles FreeDigitalPhotos.net

  • Gillard Government finally recognises the prevalence of credit rating errors, says Graham the ‘Credit Corrector’

    Media Release

    Gillard Government finally recognises the prevalence of credit rating errors, says Graham the ‘Credit Corrector.’

    29 May 2012

    An advocate for accuracy in credit reporting says Australia’s new Privacy Laws finally recognise the prevalence of credit rating errors, and the damage that can be wreaked on the consumer’s reputation and life if they are incorrectly listed with bad credit.

    Graham Doessel – CEO of MyCRA Credit Rating Repairs, and Board Member of the Credit Repair Industry Association of Australasia (CRIAA), says new Privacy Laws which are set to make some massive improvements in the area of correction of inconsistent data on Australian credit files, are long overdue.

    “Someone who presents with bad credit is going to be refused mainstream credit for between 5 and 7 years – depending on the listing type. It’s serious stuff, and if the listing shouldn’t be there, it’s very unfair,” he says.

    Mr Doessel says it is timely that the Government address the difficulties consumers face when they are incorrectly listed with bad credit.

    “Creditors can and do make mistakes when placing listings on credit files, and the onus is on the consumer to identify and address those inconsistencies. But it has very much been a case of David and Goliath – with some consumers finding they are lumbered with listings that just shouldn’t be there due to not having the extensive skills and knowledge required to address their complaints in the appropriate way,” he explains.

    The Privacy Amendment (Enhancing Privacy Protection) Bill 2012, which had its second reading in Parliament last week, is part of the Gillard Government’s ‘modernisation’ of credit reporting, which they say will make the credit reporting regime more flexible and less prescriptive by emphasising industry-led complaint resolution.

    The new laws around complaints correction will:

    • Streamline the correction and complaints process for credit reporting; and

    • Force the Creditor to justify credit listings and actually substantiate the information it reports on credit files; and

    • Allow consumers to complain directly to the appropriate Ombudsman rather than having to go through the organisation’s complaints process first; and

    •  Provide for remedies such as compensation for consumers who are negatively impacted by a Creditor who has failed to comply with credit reporting law (penalties for breaches of the Privacy Act could be up to $220,000 for an individual and $1.1 million for an organisation).

    The introduction of the new laws are too late for Brent Uchtman, who sought MyCRA’s credit repair services last year to fight a disputed credit listing which saw him refused finance.

    Brent applied for a loan after purchasing some land last year, only to be told by his bank that he had a bad credit rating from a phone company that out and out shouldn’t have been there.

    His credit file was finally cleared in November last year, but not before he lost the land contract.

    “I ended up losing the land because someone it got from under me while I struggled with this bad credit,” Brent explains.

    He says his case was slow because the company took so long to provide documentation.

    Mr Doessel says the speed of Brent’s case could have been improved if the Creditor would have had some obligation to substantiate the credit listing, or if the complaint could have been taken directly to the Creditor’s Ombudsman.

    “Finally there is some real incentive for Creditors to take due care with adding listings to credit files and to justify their actions, and we as credit repairers ultimately have a better avenue to help our clients remedy their credit rating errors,” he says.

    /ENDS.

    Graham Doessel – Founder and CEO MyCRA  Board Member CRIAA    Ph: 07 3124 7133

    Lisa Brewster – Media Relations  MyCRA  Mob: 0450 554 007 media@mycra.com.au

    Client details available on request.

    http://www.mycra.com.au/ www.mycra.com.au.blog

    MyCRA Credit Rating Repairs is Australia’s leader in credit rating repairs. We permanently remove defaults from credit files.

  • Credit reporting changes introduced into Parliament

    Further to news on changes to Australia’s Privacy Laws, the Attorney-General Nicola Roxon announced that much awaited changes to the Privacy Act 1988 were introduced into Parliament yesterday. These changes will affect your credit file and how your good and bad credit history is shown.

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

    The Attorney-General said The Privacy Amendment (Enhancing Privacy Protection) Bill 2012 represents the most significant developments in privacy reform since Labor introduced the Privacy Act in 1988.

    All of these changes have significant bearing on credit reporting accuracy in Australia, as an individual’s credit file contains so much personal information which is checked to assess risk when an individual applies for credit. It can also be subject to misuse and error.

    The laws are promised to strengthen the power of the consumer over this important Privacy right.

    “These new privacy laws focus on giving power back to consumers over how organisations use their personal information,” the Attorney-General said in a statement to the media yesterday.

    This statement also addressed credit reporting specifically.

    The Government has promised to ‘modernise’ credit reporting arrangements. The Attorney-General was more specific with some of the changes coming in with the introduction of comprehensive credit reporting as part of these Privacy Act 1988 reforms:

    • making a clear obligation on organisations to substantiate, or show their evidence to justify, disputed credit listings
    • making it easier for individuals to access and correct their credit reporting information
    • prohibiting the collection of credit reporting information about children
    • simplifying the complaints process by removing requirement to complain to the organisation first, complaints can be made directly to the Privacy Commissioner, and by introducing alternative dispute resolution to more efficiently deal with complaints.

    The Government says it expects the credit industry will benefit because the reforms provide a more accurate picture of an individual’s credit situation to help them make a robust assessment of credit risk, which is expected to lead to lower credit default rates.

    Namely, this refers to the controversial introduction of late payment notations on consumer credit files. Late payments will be added by licenced creditors even if a bill is one day late. The notation remains on the individual’s credit file for 2 years. It is unclear at this stage the exact process of law governing how late payments may be added to credit files, nor the precise way these late payments will be used when assessing risk and the potential impact on an individual’s ability to obtain credit.

    I can’t help expecting some real confusion over this type of data to occur particularly in the early days whilst data has been collected without individuals knowing the potential impact on their credit file information, and generally arguments and confusion from consumers over what may constitute a bad credit risk after these laws are introduced.

    Australian Broker published an article Credit Agencies rejoice as positive regime gets a kickstart, today in which Dun & Bradstreet’s Director of Consumer Services, Steve Brown said comprehensive credit reporting should open up credit for some groups of people.

    “The use of comprehensive rather than just negative credit information provides greater visibility of under-served consumers who would otherwise find it difficult to access credit,” Mr Brown said.

    This assumption would be due to people being able to now ‘counteract’ a late payment notation or potentially a default listing through their repayment performance history. This could mean that if people have a 5 or even 7 year listing on their credit file, they may be able to show that over a period of 2 years (the length of repayment performance history recorded) they have managed to pay their bills on time. It would then be up to the lender to assess whether they believe a consumer or business with a default who has paid their bills on time for the past 2 years is or isn’t a credit risk.

    Whilst in theory this works, I am concerned this is very subjective and lenders could err on the side of caution especially initially.

    At the moment I believe ‘repayment performance history’ only adds to the volume of negative data which will be visible on consumer credit files. I will be interested to see if in the coming years and months the advantage to this system does in fact materialise in the form of consumers with defaults being given a fairer go due to better repayment history before I am truly convinced.

    Some significant submissions put forward to the Senate Finance and Public Administration Legislation Committee which were accepted by the Government and which should benefit consumers include:

    • Streamlining the correction and complaints process for credit reporting
    • During a correction complaint, the Creditor must give justification for credit listings and actually substantiate the information is reports on credit files.
    • Consumers may complain directly to the appropriate Ombudsman rather than having to go through the organisation’s complaints process first.
    • The provision for remedies such as compensation for consumers who are negatively impacted by a Creditor who has failed to comply with credit reporting law.

    MyCRA will be very intent on seeing how the laws pan out for the actual application of these significant changes for consumers and their credit file information.

    If people have bad credit history which they believe shouldn’t be there, or the data on their credit file is inconsistent – they can contact a professional credit rating repairer to get advice about formulating a credit listing complaint. Call MyCRA Credit Rating Repairs on 1300 667 218 or visit our website www.mycra.com.au.

  • Graham the ‘Credit Corrector’: consumer advocate for credit reporting accuracy placed 24th in Start-Up Smart Awards 2012

    Media Release

    Graham the ‘Credit Corrector’: consumer advocate for credit reporting accuracy placed 24th in Start-Up Smart Awards 2012 .

    17 May 2012

    Innovative credit rating repair company, MyCRA Credit Rating Repairs has been placed at number 24 in the Australian Start-Up Smart Awards 2012.

    Headed by entrepreneur Graham Doessel, who was once Australia’s most successful non-conforming broker – MyCRA was developed in a post-Global Financial Crisis economy as a solution to tighter lending criteria and loss of non-conforming lenders, and has quickly become a force to be reckoned with in the finance industry.

    Start-Up Smart also placed MyCRA Credit Rating Repairs amongst the Top Ten new trends for 2012 in the finance category.

    “As the banks toughen their lending criteria, the finance industry is witnessing the emergence of a new type of business – one that aims to make it easier for consumers to obtain credit and finance.

    My CRA, which appears at number 24, was developed for the sole purpose of giving customers the cleanest credit file possible.

    The idea behind the service is to give customers the best chance of getting approval, secure a lower interest rate or reduce the upfront fees that can be associated with obtaining credit,” Michelle Hammond reports in the article 10 trends from the 2012 StartupSmart Top 50.

    Mr Doessel says there are three main reasons for the sharp rise in demand for good quality credit rating repair in this economy. Firstly, with tighter lending criteria a clean credit file has become an essential ingredient to obtaining credit in this market. Secondly, the number of errors and inaccuracies on Australian credit reports which affect consumers is high; and thirdly, individuals who wish to address, dispute and remove inaccurate data from their credit file have found the task quite arduous.

    “Credit reporting is governed by strict legislation, legislation which most consumers have limited knowledge of, and often very little time to get to know. Plus negotiating with creditors can be tricky. Clients have to know who to talk to and the way to talk to them. Sometimes people can do more harm than good when trying to fix their own credit rating,” Mr Doessel explains.

    There are four credit reporting agencies in Australia, and three in New Zealand, with Veda Advantage holding the majority of these credit files – with a total of over 16.5 million credit files in Australia alone.

    Of these millions of credit files, it is not known how many contain negative listings. Some reports claim around 3 million in Australia. The number of negative listings which contain inconsistencies is also uncertain. A Veda Advantage spokesperson, Chris Gration was recently interviewed by Channel 7 Australia’s Today Tonight, about the possible number of errors which are contained on Australian credit reports.

    “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.

    But an 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.

    Mr Doessel says 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.

    “It’s a bit like David and Goliath in many cases – so we are providing the benefit of our experience to tackle the big guys on the consumer’s behalf,” he says.

    The concept and formation of MyCRA Credit Rating Repairs has interesting origins. Forced to declare bankruptcy on his Promotions Business following a bad business partnership, Mr Doessel’s experience led him to a passion for the finance industry – particularly in cases of helping the underdog.

    He formed a highly successful non-conforming mortgage brokerage Mortgage Now – in 2004 which by 2006 was placed as a finalist in the Telstra Business Awards.

    Then by 2008 he was faced with two major obstacles – Cancer and the Global Financial Crisis.

    “Once I had recovered from cancer I found that the lending market had changed significantly. Suddenly, alternative lenders were folding and there was little way for those people who genuinely could service a loan but for their bad credit rating to obtain credit,” he explains.

    After extensive study of Australian credit reporting legislation, he devised a framework to correct credit rating errors. Mr Doessel found demand was massive for this service, and the business quickly took off.

    “It’s nice to do something which helps out people who would otherwise have never had the time, knowledge and skill to fight their own case. When I send people back off to their broker or lender to buy their dream home, that feeling is worth its weight in gold,” he says.

    For the future, Mr Doessel is hoping MyCRA can increase their level of success by improving the frequency of removal and closing the gap on their current default removal rate.  My CRA has a previous track record of up to 91.7% of cases having a default removed.

    The team hope to accomplish this through further increasing skill level and team numbers, building even better relationships with creditors, and continuing to educate consumers on credit reporting.

    With Mr Doessel’s heavy involvement with the Credit Repair Industry Association of Australasia (CRIAA) as an executive member, MyCRA has a strong policy of maintaining consumer advocacy and industry standards.

    MyCRA has also recently begun a Premium Corporate Partnership with the Finance Brokers’ Association of Australia (FBAA).

    /ENDS.

    Please contact:

    Graham Doessel – Founder and CEO MyCRA      Ph (07) 3124 7133

    Lisa Brewster – Media Relations  MyCRA              Ph: 0450 554 007
    media@mycra.com.au

    http://www.mycra.com.au/ www.mycra.com.au.blog

    MyCRA Credit Rating Repairs is Australia’s leader in credit rating repairs. We permanently remove defaults from credit files.

    http://www.startupsmart.com.au/business-planning/10-trends-from-the-2012-startupsmart-top-50/201203285875.html?displaypage=unknown
    http://www.mycreditfile.com.au/about/
    http://www.mycra.com.au/media/television.php
    http://www.smh.com.au/articles/2004/02/09/1076175103983.html

  • How To Save On Your Home Loan and Prevent Mortgage Stress

    A drop in house prices across many parts of the country could see some families owing more than their homes are worth.  Luckily interest rate cuts may offset this change and give people the chance to make some headway on their home loan despite the reduced equity. So what are some real and significant things families can do to actively reduce their home loan and prevent mortgage stress or at worst – bad credit from late payments?

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

    The Australian Bureau of Statistics reported earlier this month that house prices around Australia have fallen by an average of 4.5 per cent over the past 12 months.

    For people who have recently purchased their first home, this could amount to some negative equity – which is quite a frightening prospect for many. For those about to purchase their first home – it could put them off buying all together. But this may not need to be the case. Certainly many buyers in this market should be fairly cautious with where they buy – but it just may be a case of ensuring they look at their purchase as a long term investment – structuring their loan accordingly if possible and allowing for places where they can make extra payments to their loan.

    The Sydney Morning Herald recently ran an article titled Extra payments a winner showing how the recent interest rate cut can actually make a significant difference for home owners if they continue to make mortgage repayments at the previous level.

    “The 50-basis-point cut represents a $96 a month reduction in mortgage payments for home buyers with an average-size loan of $300,000 (assuming the full cut is passed on).

    But for people who can afford to maintain their payments at their current higher level it presents a great opportunity to make inroads into their outstanding principal and build a buffer for tougher times.

    Given the uncertainty in markets, and the economy, it is a good strategy to build greater equity in the home,” the article says.

    They recommend visiting ASIC’s Money Smart website to calculate the potential interest saved on extra payments to their home loan: www.moneysmart.gov.au/tools-and-resources/check-asic-lists .

    The article included this significant advice for borrowers:

    A home borrower’s handbook to keep you out of trouble

    ❏ Know what you can afford. Don’t rely on the lender to tell you what you can borrow. Make your own assessment by writing a household budget with all outgoings and see if there is enough to cover the mortgage repayment. According to Veda Advantage and Fujitsu Consulting mortgage stress reports, the groups that most often get into trouble with repayments are low-income families and young families.

    ❏ Don’t just look at the rate. According to QBE LMI’s 2012 Australian mortgage market study, when people are looking for a loan they place most emphasis on the interest rate and the fees. Options such as redraw, offset and the ability to split the loan between fixed and variable rates are given a low priority.

    ❏ Stress-test your loan. Lenders will check to see if you can continue to make payments if rates go up 2 percentage points. What if rates go up 3 percentage points or more?

    ❏ Watch your credit-card spending. Surveys of people experiencing hardship with home-loan repayments show that large credit-card debts can be the trigger for arrears or defaults.

    ❏ Make extra repayments. According to ING Direct’s Financial Wellbeing Index, 40 per cent of mortgage holders are making extra repayments on their home loans. These payments serve two purposes: they create a buffer that can be called upon if circumstances require; and they speed up the repayment of the loan.

    ❏ Invest in your mortgage. A lump-sum payment that reduces the loan principal is, in effect, an investment with a return equivalent to the mortgage interest rate, free of tax.

    ❏ Deal with problems early. The Legal Aid Mortgage Stress Handbook recommends that borrowers seek advice early from their financial institution or a financial counsellor. Many people leave it too late.

    Unfortunately, for those home owners who have entered into a higher interest rate with a non-conforming loan, the interest rate cuts will be negligible for them. They can be up for tens of thousands of dollars more during the first three years of the loan. Our calculations show on a home loan of $400,000 they could be charged an extra $22,867.15 more in home loan repayments over the first three years of the loan. This is based on average loan of $400,000 over 30 years on non-conforming loan interest rate of 9.5% versus the standard variable rate of 7%.

    To calculate potential savings people can visit the MyCRA Calculator.

    For people considering a non-conforming loan due to bad credit that should not be there, it would be extremely beneficial for them to instead look at disputing the credit listing and having their credit rating repaired. If they were successful in having listings removed from their credit report which either should not be there or were put there in error, they could restore their good credit rating in this instance and apply for a standard home loan – potentially saving themselves thousands.

    But instead it is often the case that people get a negative credit listing after a dispute with a creditor or worse – surprise bad credit – and are under the impression they have to put up with the hand they are dealt with. Some contact their creditor, and are told that they can have the listing marked as paid if the account was paid, but the listing is never removed from their credit file. The ‘paid’ listing is unfortunately still going to be a detriment to their ability to qualify for a home loan and they are stuck with the tag of ‘bad credit’ for between 5 and 7 years depending on what’s on their credit file.

    However, if the listing was put there unlawfully or unjustly, then the credit file holder does have the right to have those inconsistencies addressed and potentially removed from their credit file. It takes lots of knowledge of the relevant legislation and some good negotiation ability to be able to formulate a successful case to remove a listing. Which is where credit rating repairers come in – to act on the credit file holder’s behalf and enforce that legislation creditors are bound to comply with, helping to demand accuracy in credit reporting and negotiate for the removal of those listings which shouldn’t be there.

    In this market – it can make all the difference for a potential borrower – and be a fight entirely necessary to make to ensure people get the home loan they deserve.

    For help and advice on credit rating repair, contact MyCRA Credit Rating Repairs on 1300 667 218 or visit our main website www.mycra.com.au.

    Image: chainat/FreeDigitalPhotos.net

  • Liar liar…why honesty is the best policy when obtaining and repairing credit

    We look at the dangers of being less than honest when it comes to finance and how you can lose your good credit rating because of lying on your finance application. We also see how lying can cross over into credit repair – and how a lie will invariably be caught out and ruin your chances of restoring your good name.

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

    Lying to your lender

    One of the most drastic causes for a bank rejecting a loan application is through fraud or through not disclosing all information. So why do so many people still lie on their finance application?

    Perhaps we want to appear to earn more than we actually do, or perhaps we don’t want the lender to know all of our debts?

    But according to RateCity.com.au in its article Why risk it? Don’t fib on your mortgage application, people who lie on their finance application are putting themselves at risk.

    “Typically the amount you are approved for on a home loan is based on the information in your application, so lying about this means you have a higher chance of over-committing yourself and not being able to afford the repayments with the possibility of losing your home. Lying can also impact your credit history which will affect any future applications and loan approvals.

    Being dishonest can make you look bad because if you are lying about one thing they may wonder what else you are lying about. If you are caught out your lender could deny your application and you could lose your chance of buying the home of your dreams, so why risk it?” the article says.

    The article quotes a Veda Advantage study showing 1.6 million Australians have lied about their financial information when applying for a loan, including mortgages.

    “one in 10 Australians admitted to not being truthful in order to obtain a loan. A massive 823,000 borrowers said their total expenses were less than what they actually were and 342,000 said they earned more than they really did,” the article says.

    The introduction of new obligations on brokers and lenders through the National Consumer Credit Protection Act (NCCP) means financial institutions will have access to more of personal financial records so that they are better able to accurately assess the credit risk of each application.

    It is likely that people caught giving false information on their applications will have more chance of being caught, and their future tarnished.

    If you are caught lying, your application is normally completely dismissed. Also, your omission could be viewed as purposeful deception or fraud.

    So honesty really is the best policy.

    If you’re not sure whether you will be approved for finance, rather than lying on your application, it might be a good idea to talk honestly to a broker about your situation prior to making a finance application and prior to creating a ‘credit enquiry’ listing on your credit file. The more good honest information they have, the likelier they may be able to assess your chances of getting over the line prior to the application – they could even run something past a lender for you if there’s something in particular you are unsure about.

    Lying to your credit rating repairer

    Likewise, some people are so desperate for credit they even lie to their credit repairer if they need bad credit history removed. It can be a case of people telling their credit repairer what they think they want to hear rather than the truth. But this is no help to you or to us.

    When addressing credit listing complaints, the truth generally catches up with consumers as well as creditors.

    Credit rating repair is about enforcing legislation to negotiate the removal of credit listings that have been placed unlawfully on your credit file.

    In order for the credit rating repairer to exhaust all avenues for removing an unfair listing, we need the truth, the whole truth and nothing but the truth.

    Creditors generally have extensive records on correspondence with you, as well as the circumstances around the placement of the negative listing on your credit file. If we work on your behalf to apply the letter of the law in the wrong circumstances your request for correction or dispute is most often rejected and you lose your right to have your credit file listing removed – regardless of whether it should have been there or not.

    The best course of action is to be upfront about your circumstances and the credit rating repairer can decide whether based on the truth, you would qualify for credit rating repair. If you do qualify, the credit rating repairer knows everything about your case and they can prepare a better quality complaint in less time.

    Image: africa/ FreeDigitalPhotos.net

  • 12 Quick Privacy Tips for Parents

    As we close off Privacy Awareness Week 2012, it’s important to take away some information that people can use in their daily lives to protect their personal information, to prevent identity theft and to protect the integrity of their credit file from credit fraud. If you are a parent who wants to get involved in what your child is doing online, or even if you feel overwhelmed by the online options open to young people today – this information could save you from the dangers that occur through internet use and allow both and your child to get on the same page about online safety.

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

    The Office of the Privacy Commissioner, Canada has put together some information for parents on 12 Quick Privacy Tips which show how to navigate a digital environment and how parents can lead their children in better Privacy practices.

    We have included this information sheet for you in its entirety:

    12 Quick Privacy Tips for Parents

    It can be tough raising kids in a digital environment. Many of them use the Internet effortlessly, and easily adapt to new devices that connect to it. For many of us, these tools have become a routine part of our children’s lives, as they use them to chat, surf, post, play and learn. The Internet has become one of the most powerful tools they have to connect with friends and make new ones.

    Many kids, however, don’t fully understand the impact that some online activities may have on their privacy. Below are 12 tips to help you limit the risks to your children’s personal information, while allowing them to make the most of their time online.

    •1. Talk to your kids.
    It’s important to know the Internet spaces your kids frequent and the devices they use to go online, to help you understand the nature of personal information they may be sharing. Technology changes rapidly and many children are ahead of adults in adapting to new options. Talk with them often about their online activities to keep up with what they are doing and interested in.

    •2. Try it out.
    It’s not enough to know what online spaces and devices your kids are using. To understand the nature of the personal information they are sharing, you should know how they are using and experiencing them. So, dive in. Try out the family web cam if you have one, play the online games they love, create a profile on the social networking sites they frequent, and download some music.

    •3. Keep up with the technology.
    Many mobile devices, like smart phones, tablets and gaming consoles, can connect to the web and have video cameras. The lines between devices are blurring, and it is important to know what kind of device your child has, so that you know whether they are merely playing a game, or if they are using the Internet and sharing personal information.

    •4. Make restricting privacy settings a habit.
    Most social networking sites have extensive privacy options that children should learn to use. For each site where your kids are posting information about themselves, their family and their friends, sit down with them and review that site’s privacy policy. Then modify the privacy settings of their account, and have them consider how the information they are posting could be used – or misused – by others.

    •5. Make password protection a priority.
    Children need to understand that their online information will be better protected if they use passwords. They should use different passwords for different sites and they should change them regularly. Encourage them to ensure their passwords are strong (eight characters or more and a variety of letters and/or numbers), to change them regularly, and to never share them with anyone.

    •6. Emphasize the importance of protecting mobile devices.
    The first thing anyone should do with a new mobile device is activate the password protection. Talk to your kids about this, and the importance of protecting the device itself – not just because it may be expensive, but because it may contain their personal information. A device that gets into the wrong hands could result in embarrassing or even malicious videos or pictures being posted online by someone else in your child’s name.

    •7. Remind your kids that what they post on the Internet is not always private.
    Your kids should understand that once they post content online, they no longer have control over it. It can be forwarded, copied and pasted, manipulated, printed out or saved – it can remain online, in some form, potentially forever. They should know that even password-protected pages are not totally secure, and that deleting information doesn’t mean that it’s gone forever.

    •8. Teach your kids to think before they click.
    It can take only seconds to snap a photo and post it to the Internet, or to post a comment. But it can be nearly impossible to permanently delete that comment or photo once it’s posted, as it can then be downloaded or archived by others. This is why it’s so important for kids to think twice about every piece of personal information before they post it to the Internet. They should only post things that they would be comfortable with the whole world seeing.

    •9. Stress the importance of knowing your real friends.
    Kids need to know that, online, they can’t be 100% sure of who they’re talking to, so they should never accept friend requests from people they don’t know in real life. Online friends can end up accessing online photo albums, reading personal comments, copying and pasting information, knowing what you’re doing and where you are. Remind your kids that a “friend” of a “friend” of a real-life friend is really just a stranger.

    •10. Teach your kids that their personal information is valuable.
    Kids need to know that many people and companies want their personal information to sell or market things to them in the future. New and exciting technologies are emerging daily, but often personal information is the cost of admission. Review the personal information they often need to surrender in order to play online games, fill out an online survey or quiz, join virtual worlds or even just shop online. Discuss potential ways to limit that information, for example, by completing only required fields, using pseudonyms, and using incomplete information.

    •11. Let your kids know that you are there if they make a privacy mistake.
    Stay calm if your child makes a mistake, like posting something they shouldn’t have. Help them remove the post, where possible, and talk with them about how they can avoid a similar mistake in the future. If you “freak out” or deny access to them, they may not come to you for help when they really need it in future.

    •12. Set a good example.
    Remember, those cute potty training or bathing photos of your own child that you are tempted to post can also be copied and shared, and remain online forever! Just as you would respect your friends when posting photos or other items that contain their personal information, respect your kids’ personal information too. Set a good example when you’re online so your kids have a good role model to look to if they’re wondering what kind of information is OK to post.

    Credit fraud: What can happen to your child if their personal information is extracted by fraudsters

    Superintendant Brian Hay from the Queensland Fraud Squad told Channel 7’s Sunrise Program in October last year, that criminals were targeting the personal information of our young Facebook users.

    Supt Hay said criminals had been known to be storing the personal information of children around the world in databases to be used when they turn 18 and are able to take out credit.

    “We know that the crooks have been data warehousing identity information, we know that they’ve been building search engines to profile and build identities,” he told Sunrise.

    “We need to tell our children if you surrender your soul, if you surrender your identity to the internet it could come back to bite you in a very savage way years down the track,” he says.

    Most identity theft victims have no idea they have given away personal information to fraudsters until it is too late. If identity fraud sees accounts in the victim’s name going undetected and unpaid past 60 days, the credit file holder can have their good name destroyed for 5-7 years due to defaults.

    It need not be major fraud to be a massive blow to the identity theft victim. Unpaid accounts for as little as $100 can have the same negative impact on someone’s ability to obtain credit as a missed mortgage payment. So any misuse of someone’s credit file can be extremely significant.

    For more education for parents about the risks of cyber-crime and tips for staying safe, the Government has put together the CyberSmart website, which has special sections for parents and children. You may also like to visit the government’s Stay Smart Online website, which provides information for Australian internet users on the simple steps they can take to protect their personal and financial information online. It also has an Alert system which you can subscribe to, which notifies you of the latest risks to your personal information or computer.

    Don’t get caught with credit rating defaults that should not be there. Don’t let fraudsters take over your good name. Educate yourself on what a valuable commodity your personal information is, and how you can protect what is your ticket to financial freedom in this modern world – your credit file – from fraud.

    Image above: Keerati/ FreeDigitalPhotos.net

    MyCRA Credit Rating Repairs is proud to be a Partner for Privacy Awareness Week 2012.

  • Are you at risk of identity theft?

    How much are you putting your life, your personal information and your credit file at risk of fraud? Test your awareness of identity theft, determine what you don’t know and take some steps to protect you and your family. This initiative is part of Privacy Awareness Week 2012, of which MyCRA Credit Rating Repairs is a partner.

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

    Last year, as part of Privacy Awareness Week, the Asia-Pacific Privacy Authorities developed an Id Theft Self-Assessment Test in which you are asked 11 questions on various topics. At the end, you will receive an assessment of how at risk you are of identity theft.

    Here’s some things you may not know about identity crime…

    Identity crime is an area which is ever-growing and ever-changing.

    It is reported that 1 in 6 people in Australia is a victim or knows someone who has been a victim of identity theft or fraud in the past 6 months.

    Victims are not always ‘gullible’ as may be the impression in the wider community. Many experts say it is not a matter of if you experience an identity theft attempt, but when.

    It can originate from someone you know – for example an acquaintance obtains identity documents or credit card details to impersonate you. Or more increasingly it comes from professional fraudsters whose main occupation is to steal personal information and financial details in order to commit fraud.

    Fraudsters are after your personal information. The internet is a big source of personal information and its ever increasing use makes you more vulnerable to identity crime than ever.  This means identity crime can have very long arms – often it originates from overseas crime syndicates. Social networking, online banking, company databases and email scams can all be havens for today’s cyber- criminal.

    You can also fall victim to a number of rampant telephone scams, credit card skimming, or criminals can also take to going through your rubbish bin for anything they may be able to use to steal your identity.

    Identity theft is increasing because the pay-offs are huge for criminals. It is estimated identity crime costs Australians $1 billion a year (OECD Committee on Consumer Policy, Online Identity Theft, February 2009, p. 37).

    In cyber circles alone, world estimated costs for cybercrime are staggering.  Cyber-crime expert Mischa Glenny says that while there are no precise figures out there, the White House suggested in 2009 that cybercime and industrial espionage inflicts damage of around U.S. $1tn per year, which is almost 1.75% of GDP.

    “Traditional bank robbers must be absolutely gobsmacked when they hear sums like this being hoovered up by cyber- criminals week in, week out,” he says.

    How can I be affected?

    We consider if someone is alerted to having money stolen from credit cards early, or perhaps is able to call their bank and stop fraud in its tracks – that they are the lucky ones.

    The unlucky identity theft victim is unaware of the fraud until their identity is misused, and their credit rating with it. When identity theft damages your credit rating – it is because the fraudster has been able to overtake credit accounts, or has gained access to enough personally identifiable information about you to forge new identity documents.

    This gives the fraudster access to credit cards, loans, even mortgages which allows them to extract significant amounts of money without you realising it straight away.

    If credit accounts are not repaid – after 60 days you may be issued with written notification of non-payment and the intention for the creditor to list a default on your credit file. It is at this moment that some people who were previously unaware of any problems find out they have been victims of this more sophisticated type of identity theft.

    But often the credit file holder has also had their contact details changed – and this means it is not until they apply for credit in their own right and are refused that they find out about the identity fraud. This can be a significant time after the initial crime.

    Some signs to watch out for include:

    1. Strange unaccountable withdrawals on credit or personal bank accounts. It may not need to be a big amount to indicate fraud. Many criminals do ‘test’ amounts to begin with before extracting more significant amounts.
    2. Phone calls or emails from what often appear to be legitimate companies, asking for money or personal details. If you have given bank details or personal information in this way either online or on the phone there is a high chance it was a scam. Verify with the company in question.
    3. Can’t log in to social networking or bank accounts.
    4. Credit refusal
    5. Bills or letters of demand sent to you for accounts you don’t know about
    6. Missing mail – particularly credit card statements which could indicate someone has overtaken your accounts. In this case no news is not good news.

    What can I do if I suspect I am a victim of identity theft?

    Notify Police immediately. Many people do nothing due to embarrassment, or because they don’t believe the fraud was significant enough. But is only through this crime getting reported that statistics get collated, and we start to have any chance of catching the criminals.

    Notify creditors. You may need to cancel credit accounts.

    Obtain a credit report. This report is free once per year for every Australian who holds a credit file. It will indicate to you whether any of your contact details have changed, or whether there have been credit enquiries on your account. If you act quickly enough, you may be able to stop your credit rating from being affected by black marks which would come from fraudsters obtaining credit in your name.

    Notify credit reporting agencies of the possible fraud. They will be able to put an alert on your credit file.

    Police may assist you in obtaining a Victims of Commonwealth Identity Crime certificate, if they believe you are eligible. You can apply to a magistrate in your State for this certificate, which may help in recovering your credit rating or credit accounts. Victims need to have had a Commonwealth Indictable Offence committed against them. For more information, visit the Attorney-General’s website www.ag.gov.au.

    What steps can I take to prevent identity theft?

    1.Keep virus software up to date on your computer. Install automatic updates and perform regular virus scans.
    2.Keep your privacy settings secure on all social networking sites.
    3.Keep our passwords and PIN numbers secure. Don’t carry PIN numbers with your credit/debit cards, change passwords regularly and use a variety of passwords for different purposes.
    4.Check all your credit card and bank statements each time they come in.
    5.Cross-shred all personally identifiable information which you no longer need.
    6.Buy a safe for your personal information at home.
    7.Do not give any personal information or credit card details to anyone via phone or email unless you are sure the site is secure, and or you can verify the company details.
    8.Be aware of who gets our personal information and for what purposes. What can these people do with the information they are gathering? For instance, is it really necessary for the site you are registering on to have your date of birth?
    9.Keep up to date with the latest scams by subscribing to the government’s ‘SCAM watch’ website. For a list of ways your computer can put you at risk, visit the governments Stay Smart Online website www.staysmartonline.gov.au.
    10.Check your credit file.

    If you or someone you know needs help to remove bad credit history on their credit rating following identity theft, contact MyCRA Credit Repairs, www.mycra.com.au or call tollfree on 1300 667 218 for confidential advice and help restoring your good name.

    Image above: Chris Sharp/ FreeDigitalPhotos.net

    MyCRA Credit Rating Repairs is proud to be a partner for Privacy Awareness Week 2012.

  • Privacy Protection set to be heightened under Australian Law

    Big changes are coming for Australian privacy rights and laws governing the use of personal information. The Australian Government has announced it will make the first set of changes to the Privacy Act 1988 in the Winter sitting of Parliament. The announcement came yesterday from Attorney-General Nicola Roxon, who intentionally announced the changes to coincide with Australia’s Privacy Awareness Week.

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

    The Attorney-General said in her statement that Australia’s privacy laws will be reformed to better protect people’s personal information, simplify credit reporting arrangements and give new enforcement powers to the Privacy Commissioner.

    The Attorney explained that key changes to benefit consumers are:

    • clearer and tighter regulation of the use of personal information for direct marketing
    • extending privacy protections to unsolicited information
    • making it easier for consumers to access and correct information held about them
    • tightening the rules on sending personal information outside Australia
    • enhancing the powers of the Privacy Commissioner to improve the Commissioner’s ability to resolve complaints, conduct investigations and promote privacy compliance

    These changes are part of a long consultation process coming out of recommendations made within the Australian Law Reform Commission’s report For your information: Australian Privacy Law and Practice.

    The changes will include new powers for the Privacy Commissioner to enforce privacy laws. Commissioner Timothy Pilgrim said in a statement to the media these changes were a significant step forward and will allow him to better resolve privacy investigations more effectively.

    “The strengthening of these powers also sends a strong message to government agencies and businesses covered by the Act that there can be significant consequences when personal information is not given an appropriate level of protection.”

    “These changes give me more options when undertaking an investigation on my initiative. At the moment I can only make a determination when I am investigating a complaint made by an individual,” Mr Pilgrim said.

    The powers of the Privacy Commissioner to investigate Privacy complaints has previously come under criticism, particularly following the well-publicised global Sony Data Breach in April 2011 which seemed to showcase the gaping hole in Australian Privacy Law at the time. The data breach left the personal information of approximately 77 million Sony customers worldwide exposed to hackers and threatened the victims with possible identity theft and credit file misuse.

    Criticism was sparked by the Commissioner’s lack of powers to make determinations following any investigation, and also Australia’s absence of mandatory data breach notification law. It was well publicised that Sony took over a week to notify it’s customers of the data breach, in the process potentially exposing customers to identity theft and credit file fraud.

    A recent survey conducted by the University of Canberra and eBay Australia found that Australian internet users were highly concerned about identity theft and wanted government to order businesses to notify users of online data breaches.

    The survey, reported in CIO Magazine Call for mandatory data breach notification grows: Survey found 85 per cent of 700 Australian participants want data breach notifications to become mandatory. Here is an excerpt from that story:

    In addition, 86 per cent of respondents cited identity theft as their greatest privacy concern, while 83 per cent mentioned financial data loss as their biggest concern.

    The survey also found that the financial sector was the most trusted when it came to privacy (42 per cent).

    Social media was the least trusted industry on privacy with only 1 per cent of respondents saying they trusted websites such as Facebook. Sixty-one per cent of Australians surveyed nominated the social media industry as having the worst privacy practices.

    Privacy Commissioner, Timothy Pilgrim, said that the high level of support for mandatory data breach notifications is not surprising given significant data breaches over the past year such as the Sony PlayStation Network compromise.

    “Incidents are on the rise as weaknesses become apparent in business systems at the same time as hackers become more sophisticated,” he said in a statement.

    “I encourage businesses to look at our guide which not only outlines how to respond to a breach, but also how to avoid a breach in the first place by focusing on the security of their systems,” Pilgrim said.

    Other privacy law reform changes will include the introduction of a set of Australian Privacy Principles, and importantly, changes to credit reporting law.

    Some changes Attorney-General Nicola Roxon chose to highlight in her statement yesterday include:

    • making a clear obligation on organisations to substantiate, or show their evidence to justify, disputed credit listings
    • making it easier for individuals to access and correct their credit reporting information
    • prohibiting the collection of credit reporting information about children
    • simplifying the complaints process by removing requirement to complain to the organisation first, complaints can be made directly to the Privacy Commissioner, and by introducing alternative dispute resolution to more efficiently deal with complaints.

    We will be watching with intense interest at how the whole barrage of changes around credit reporting could possibly impact consumers and their credit files. The above four recommendations would be a great improvement as currently consumers can experience difficulty when disputing entries on their credit reports.

    MyCRA is proud to be a Partner for Privacy Awareness Week 2012.

  • Privacy Commissioner reports data breaches on the rise

    As part of Privacy Awareness Week 2012, over 180 business leaders met in Sydney this week to discuss the topic of data breaches. Data breaches can occur through lost or stolen laptops, portable storage devices and paper records, or through databases being ‘hacked’ into or organisations mistakenly providing information to the wrong person. The effects of data breaches can be theft of identity and potentially credit fraud leading to bad credit history for the victim. The Privacy Commissioner claims there is in effect one data breach a week in Australia – an increase of 27 per cent from last year.

    This is an excerpt from Privacy Commissioner Timothy Pilgrims statement to the media on Monday on data breaches in Australia:

    “The Office of the Australian Information Commissioner (OAIC) was notified of 56 data breaches in the last financial year, equivalent to a data breach a week. This is up from 44 in the previous year, an increase of 27 per cent,” Mr Pilgrim said.

    However, the Privacy Commissioner also noted that he opened a further 59 investigations into other breaches where he wasn’t notified of the incident.

    “Serious harm can befall people when the security of their personal information is compromised”, Mr Pilgrim said. “It is our view that whenever there is a real risk of serious harm, affected individuals should be notified.”

    …Data breach notification is not a mandatory obligation applying generally to government and business in Australia. However, there is increased pressure on the Government to introduce laws to make it a general legal requirement as it is elsewhere — data breach notification is already a mandatory requirement in Europe, the UK and the United States….

    The Privacy Commissioner warned that in some circumstances, it may be a breach of the Privacy Act not to notify as organisations covered by the Privacy Act must take reasonable steps to protect the information they hold.

    For businesses who would like a reference for guidelines on handling personal information security breaches, the OAIC has released this document:

    Data breach notification: A guide to handling personal information security breaches. It outlines four steps to consider when responding to a breach or suspected breach and also outlines preventative measures that should be taken as part of a comprehensive information security plan.

    Personal information has become a valuable commodity used to commit identity fraud and potentially ruin the victim’s financial future.

    We can’t take lightly the possibility that any company that keeps data on its customers could be exposed to data breaches. Identity theft is becoming more prevalent, and personal information is lucrative for fraudsters.

    Personal information in the wrong hands can lead not only to identity fraud, but the misuse of the victim’s credit file, which can have significant long term consequences.

    Data breaches are difficult for individuals to have any control over, and the only way people can ensure their details are safe are to demand that the companies they deal with have strong IT systems before disclosing that information.

    The Australian Crime Commission’s Identity Crime report advises consumers on ways they can protect their personal information. They advise all individuals to obtain a copy of their credit report annually in order to keep abreast with any changes to their credit file which may point to identity theft.

    This could detect suspicious entries such as new credit enquiries or changes in contact details which would point to an identity theft attempt, allowing steps to be taken before the fraud affects the person’s good credit rating.

    If a person may be vulnerable to identity theft through a data breach, they should check their credit file immediately, and also contact Police who will advise them on the best course of action to take to restore their accounts and potentially their good name. This could include applying for a Victims of Commonwealth Identity Crime Certificate – which covers particular Commonwealth Identity Crime and can aid in recovery.

    If people need help to prepare a case to creditors for default removal following identity theft, it may help to contact a reputable credit repair company.

    Image above: David Castillo Dominici/ FreeDigitalPhotos.net

    MyCRA Credit Rating Repairs is proud to be a partner for Privacy Awareness Week 2012.

  • How to fix a bad credit rating – in Australia

    How do you fix a bad credit rating? Well it depends on where you live. In Australia it can be difficult, but not impossible. Australians are best to follow advice from our own shores. Here’s some information on credit reporting in Australia and 5 ways you can improve your chances of obtaining credit.

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

    Google ‘fix bad credit rating’ and the list of articles on improving your credit score can be a mile long with countless advice on bad credit solutions and suggestions to fix what the banks see as bad credit history. People are looking for a way to overturn or ‘counteract’ a bad credit listing and get the best chance of approval for home loans, personal loans or any forms of credit.

    What many don’t realise is that many articles from the U.S. and U.K. are not relevant on Australian shores. These countries have ‘positive’ credit reporting systems – very different from Australia’s. So the information, whilst good, often doesn’t apply for people in this country.

    In fact, many times if Australians follow that information they may actually be hindering their chances of obtaining credit in the current market, not helping it.

    So here is some information for people concerned about their credit rating, to have as a reference for what applies in this country for our unique credit reporting system.

    What exactly is my credit file?

    A credit file is made for every person who is credit active in Australia. The credit reporting agencies currently providing credit reports are Veda Advantage, Dun & Bradstreet, and Tasmanian Collection Service (if Tasmanian). There is also a new entrant Experian, but they are currently only collecting data.

    A person’s credit file contains their personal information. It also records any credit applications, all loans which are current and also records any adverse listings such as Defaults, Writs, Judgments, Clear-outs or Bankruptcies* which are issued under that person’s name.

    It is from this file that creditors make a decision whether or not to lend people money. This information is then available to banks and building societies; finance companies, utility providers, mobile phone companies and retail stores. These companies are all known as credit providers or creditors.

    Any creditor may place an adverse listing on a person’s credit file if an account has been in arrears for more than 60 days. This includes phone companies, utility companies, and gyms as well as banks, finance companies and retail stores – and the outstanding amount can be for as little as $100. These listings are current for between 5 and 7 years depending on the listing, and ‘drop off’ the credit file after this time.

    A negative credit reporting system

    Currently Australian credit reporting operates under a ‘negative’ system. This will change as Australia moves towards comprehensive credit reporting, but until then – the rules of the game are very different from many other countries.

    Only negative data is recorded on a person’s credit file. From this point of view – there is nothing people can do to counter-balance any negative data which is displayed on their credit file. It is either present – or not.

    So is there anything I can do to change my bad credit rating?

    The best thing you can do for your current and future credit rating is to make all of your repayments on time.

    You can’t remove negative listings from your credit file unless you dispute the listing. You also can’t counteract the effect of those listings with ‘positive’ credit information yet either.

    But there are a few other things you can do to improve how you appear to lenders potentially improving your chances of obtaining credit in Australia. Here are 5:

    1. Reduce credit limits.
    Lofty credit limits do not improve a person’s credit ‘risk’ assessment. If the loan applicant has a credit limit of say $20,000 on their credit card, the debt amount on that card will be calculated on $20,000 – even if the actual amount the applicant has owing on that card is only $5,000. So a potential borrower should seek to reduce any credit limits on cards or loans they currently hold.

    2. Reduce credit enquiries.
    Do not shop around for credit. Whenever a person other than the credit file holder makes an enquiry on their credit record – that enquiry is recorded on the person’s credit file. Currently there is no way of seeing on someone’s credit report if the loan was approved or not, only that the application was made. Some lenders are refusing home loan applications due to too many credit enquiries, such as two enquiries within thirty days or six within the year.

    3. Check credit file regularly.
    Anyone has the right to request a copy of their credit file, to see what is being said about them. This report is free for the credit file holder every 12 months. The request should be made to all the applicable credit reporting agencies, and a report will be made to the credit file holder within 10 working days.

    There is the potential for creditors to make mistakes when entering listings on credit files. So anyone who is credit active should check theirs, regardless of how diligent they think they may have been with their repayments.

    Many times people are unaware they have adverse listings on their file until they apply for credit and are refused. Unfortunately at that time it can be stressful, and they can lose the home or business they are trying to buy, or be forced to choose a different loan with a higher interest rate to accommodate their bad credit history.

    4. Pay any outstanding amounts.
    Currently even defaults which have been marked as paid may see you refused credit – but it can’t hurt to pay an overdue account if it should have been paid. Whilst the creditor cannot remove the listing, they can mark the listing as paid. Some lenders may overlook a default listing if other parts of the application present as low risk.

    5. Remove errors from your credit file.
    Adverse listings can sometimes occur due to identity theft; some people 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 errors with creditor computer systems, and sometimes human error.

    You have the right to have any inconsistencies on your credit file rectified. People should bear in mind that 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.

    Credit reporting is governed by strict legislation of which most consumers have limited knowledge of, and often very little time to get to know.

    Many seek out the help of a reputable credit repairer who will be able to work on their behalf to assess their suitability for credit repair and then formulate a case based on legislation for removal – negotiating with creditors to have the default or other listing removed.

    People can visit the MyCRA Credit Repairs website for more help with their credit rating, and help to repair a bad credit rating.

    *Bankruptcies cannot be removed from credit files.

    Image: Stuart Miles / FreeDigitalPhotos.net

  • TMI – 5 things all young people should know about privacy, social networking and credit.

    If you didn’t have Facebook or Twitter – you’d be lost right? It’s a great way to keep in touch with friends– and sometimes it’s more convenient and quicker than a phone call. But if you don’t keep your personal information secure from outsiders while you use it– you could be keeping in touch with all the wrong people. There’s weirdos out there trolling the internet looking for the stuff you openly post – even people looking to commit identity theft with your info. We show you how the mistakes you make with your privacy now could lead to being unable to get a phone, a home, a car in the future because of a surprise bad credit rating.

    This information was put together for Privacy Awareness Week 29 April to 5 May 2012 and is all about promoting awareness of privacy rights and responsibilities in the community. The theme this year is “How to Protect Personal Information While Engaging With Social Media”  with a focus on secondary school students, parents and teachers. If you are not a student but you know one, flick them this link or print this page. We want all young Australians to have the luxury of a clear credit rating when they turn 18 and beyond.

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

    1. Fraudsters are looking for your personal information.

    They are looking to take it and use it for purposes of constructing a fake identity. Identity theft victims are not always ‘gullible’ as people might imagine. They are ordinary people. Many experts say it is not a matter of if you experience an identity theft attempt, but when. It is estimated one in six Australians may have been a victim or know someone who is a victim of identity theft.

    It can happen to you when someone you know obtains identity documents or credit card details to impersonate you. Or more and more it comes from professional fraudsters whose main occupation is to steal personal information and financial details in order to commit fraud.

    The internet is a big source of personal information and its ever increasing use makes you more at risk of identity crime than ever.  This means identity crime can have very long arms – often it originates from overseas crime syndicates.  Identity theft is increasing because the pay-offs are huge for criminals. It is estimated identity crime costs Australians $1 billion a year.

    2. Criminals are after information they can use to steal your identity.

    Criminals are looking for anything they can use to piece together enough information in order to construct a fake identity. Much of the information people post on Facebook or other Social Networking sites can be very good building blocks for identity thieves. They are taking snippets here and there and building a profile on people. They may know your name and they may also know where you live, or where you go to school, your pet’s names, your birthday, even your other family name which could be identified as your mother’s maiden name.

    All this is very handy information that is not only used to identify you, but may be used in passwords. After a little while, they have enough information to go about asking for replacement copies of driver’s licences, photo identification – whatever type of identification they have suitable information for. Then they can attempt to take out credit in your name. Some people have even had houses purchased in their names. Often it’s not until you go and take out credit and the bank says: “NO WAY look at all these defaults against your name!” that you may realise you have been struck by identity theft. The thing is, they are using your name so you are the one that ends up with the bad credit rating, and it can be a nightmare to recover the good credit rating you once had.

    3. These Privacy risks apply even if you’re under 18

    You might ask – what’s the point of worrying about privacy if you are underage – without a credit rating – there is no danger of identity theft right? Well think again! The fact is – crooks are pretty clever. The information you post today, could come back to haunt you in a big way. There are reports of crooks scanning social networking sites purposely looking for young people for this reason, because they usually have the most open privacy settings. That information is not used right away, but is ‘warehoused’ until the young people turn 18. They can then go on a ‘spending spree’ with the young person’s fake identity and credit. Imagine that, you turn up to buy your first car, and lo and behold you have a mountain of defaults against your name and no idea how it happened.

    Besides all this, if you have enough information on your Social Networking right now about your parents you could be putting their credit rating in jeopardy as well.

    4. The effects of a bad credit rating from identity theft

    Negative listings stay on a person’s credit file for 5 to 7 years, depending on the listing. During the time your credit file is affected most lenders and other credit facilities will refuse you credit. Unless you are able to prove it wasn’t you who took out the credit, you may be stuck with a bad credit rating until you are at least 23 if not 25. You can’t borrow to travel, purchase a home, or even take out a credit card or a mobile phone plan while you credit file has these defaults.

    5. What you should do to make sure fraudsters don’t obtain your personal information

    One important change you can make right now, is to change the way you use the internet. Keep your passwords and social networking settings as strong as possible.

    Here is some information that Stay Smart Online has provided to help young people in Australia today take steps to use social networking safely:

    • set your online profile to private and be discerning about who you accept as your ‘friend’
    • protect your accounts with strong passwords
    • have a different password for each social networking site so that if one password is stolen, not all of your accounts will be at risk
    • think before you post – expect that people other than your friends can see the information you post online
    • don’t post information that would make you or your family vulnerable – such as your date of birth, address, information about your daily routine, holiday plans, or your children’s schools
    • don’t post photos of you or your family and friends that may be inappropriate – or that your family and friends haven’t agreed to being posted
    • never click on suspicious links – even if they are from your friends – they may have inadvertently sent them to you
    • be wary of strangers – people are not always who they say they are. It’s a good idea to limit the number of people you accept as friends
    • always type your social networking website address into your browser or use a bookmark.
    • If you suspect any fraudulent use of your identity you should report it to your social networking service provider and your local police.

    MyCRA Credit Rating Repairs is proud to be a Partner for Privacy Awareness Week 2012. For more youth resources visit the PAW Website http://www.privacyawarenessweek.org/youth.html.

     

    Image of boy: David Castillo Dominici/ FreeDigitalPhotos.net