MyCRA Specialist Credit Repair Lawyers

Tag: credit rating defaults

  • Lonely hearts ripped out and ripped off this Valentine’s Day by scams.

    romance scamsMedia Release

    Lonely hearts ripped out and ripped off this Valentine’s Day by scams.

    7 February 2013

    A warning this Valentine’s Day for those who use internet dating: be on the lookout for scammers. A consumer advocate for accurate credit reporting warns that getting sucked in by a scammer may not only leave you broken hearted, but can also leave you broke.

    CEO of MyCRA Credit Rating Repair, Graham Doessel warns that because of the personal nature of dating scams, many intimate personal details may be shared, and scammers could not only extract money, but can also garner enough information to steal your identity and take credit out in your name.

    “The costs of identity theft can be significant long term and are magnified by the fact that identity fraud is often not detected until you attempt to take out credit in your own name and are refused due to credit rating defaults from unpaid credit you didn’t initiate,” Mr Doessel says.

    The NSW Fair Trading Commission has issued fresh warnings recently in regards to romance scams, saying consumers are at risk of high debt and dissatisfaction.

    Commissioner Rod Stowe warns if you are looking for love -get introduction agency agreements in writing and beware of predators online and elsewhere.

    “Repeated requests for more money are standard practice for traditional and online romance scammers, whether the requests come from an agency or prospective partners,” he said in a recent media release.[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”][i]

    “Once you’re on the hook, a scammer will reel you in as long as you take the bait. The internet presents a whole range of risks for consumers looking for love. The ACCC [Australian Competition and Consumer Commission] reported Australians lost $21 million to dating and romance scams in 2011. The average loss for a victim reporting a scam to the ACCC was more than $20,000.”

    Romance scams are so rampant in Australia, that the ACCC now requires online dating sites to display scam warnings and will threaten action against companies that fail to comply.

    Scammers target victims by creating fake profiles on legitimate internet dating services.

    The ACCC warns once you are in contact with a scammer, they will express strong emotions in a relatively short period of time and will suggest you move the relationship away from the website, to phone, email and/or instant messaging. Scammers often claim to be from Australia, but travelling or working o/s.

    “They will go to great lengths to gain your interest and trust, such as sharing personal information and even sending you gifts. Scammers may take months, to build what seems like the romance of a lifetime. They will then ask you for money, gifts or your banking/credit card details.” the ACCC warns on their website.[ii]

    The ACCC says scammers can site various reasons for needing money, including to cover the costs associated with non-existent accidents and illnesses, various fees and charges associated with precious goods such as diamonds, gold bullion and gemstones, or to arrange a meeting which never occurs.

    Mr Doessel says it is not always easy to forget a romance scam if the fraud has impacted your credit file.

    “If you fall victim to identity theft, you are hit three times – you may have lost a large sum of money, secondly you may be emotionally heartbroken, then thirdly you are locked out of credit for 5 years because of defaults on your credit file.”

    “You may not even get a mobile phone plan if you can’t prove you didn’t initiate the credit in your name,” he says.

    The ACCC’s SCAMwatch outlines some ways people can protect themselves when dating online:

    – ALWAYS consider the possibility that the approach may be a scam…Try to remove the emotion from your decision making no matter how caring or persistent they seem.

    – Talk to an independent friend, relative or fair trading before you send any money. THINK TWICE before sending money to someone you have only recently met online or haven’t met in person.

    – NEVER give credit card or online account details to anyone by email.

    – Be very careful about how much personal information you share on social network sites. Scammers can use your information and pictures to create a fake identity or to target you with a scam.

    – If you agree to meet in person, tell family and friends where you are going…

    – Where possible, avoid any arrangement with a stranger that asks for up-front payment via money order, wire transfer or international funds transfer. It is rare to recover money sent this way.

    -If you think you have provided your account details to a scammer, contact your bank or financial institution immediately.

    – Money laundering is a criminal offence: do not agree to transfer money for someone else.

    If you think you may be ‘dating’ a scammer, contact the ACCC on 1300 795 995 and if you have given over money, contact Police immediately.

    MyCRA Credit Rating Repair’s website also contains information on identity theft and your credit rating www.mycra.com.au.

    /ENDS.

    Please contact:

    Graham Doessel – Ph 3124 7133

    Lisa Brewster – Media Relations media@mycra.com.au

    http://www.mycra.com.au/ 246 Stafford Road, STAFFORD QLD.

    Ph: 07 3124 7133

    MyCRA Credit Repair is Australia’s number one in credit rating repairs. We permanently remove defaults from credit files.

     

    ——————————————————————————–

    [i] http://www.fairtrading.nsw.gov.au/About_us/News_and_events/Media_releases/2013_media_releases/20130131_valentines_day_warning.html

    [ii] http://www.scamwatch.gov.au/content/index.phtml/itemId/694213

    Image: thanunkorn/ www.FreeDigitalPhotos.net[/fusion_builder_column][/fusion_builder_row][/fusion_builder_container]

  • Telco bill shock should in theory now be a thing of the past

    The Telecommunications Consumer Protection (TCP) Code came into effect on September 1. We look at what this means for telco customers and the possibility that less consumers could be subject to bill shock and subsequent credit rating defaults due to sky-high bills they had not budgeted for.

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

    Currently approximately 26% of our credit repair clients have suffered bad credit from telcos (telecommunications providers). Not all of that bad credit should be there. Whilst mistakes and mis-communications are frequent in the industry, as they are in many others – one of the major significant differences we have noticed with the telco industry compared with other industries issuing credit file defaults, is more clients are in dispute over excess charges.

    Excess charges or “bill shock” can occur when the actual bill the customer receives is significantly higher than what they understand it should be. Issues like international roaming charges, excess data charges and customers going over plan allowances (especially when the plan had the term “cap” within it) seems to be a frequent source of dispute amongst customers.

    Unfortunately sometimes the customer is unable to come to an agreement over these charges before they are issued with a credit rating default. These issues can be hard to fight. Often the customer will say what they had first understood the plan to be for, or what they wanted the phone to do, was not what eventuated.

    Resolutions with telcos over these billing issues can be difficult to come to. Sometimes consumers have reluctantly paid the bill, thought the matter was settled, only to find they were defaulted anyway, and others have just refused to pay the bill until they got some resolution. Either way, customers have been faced with at least 5 years of bad credit from the episode unless they have been able to make a successful complaint.

    The telcos – with all the power on their side can often come out on top.

    Escalating levels of telco complaints in Australia, resulted in a major public inquiry by the Australian Communications and Media Authority (ACMA) and the report – Reconnecting the Customer. This examined the root causes of the industry’s poor customer service and complaints-handling performance. The telco industry was asked to regulate or be regulated – and so the Telecommunciations Consumer Protections (TCP) Code was developed by the Communications Alliance (CA), and a final draft was registered in late July.

    That TCP Code came into effect on 1 September 2012. If the code proves to be effective, and if the ACMA does as it says it will and come down heavily on those that don’t comply with the TCP Code, there will be significant positive changes for telco customers.

    What the Code provides for.

    The ACMA outlines the basic benefits for consumers in its article Fair call—new telco code to benefit consumers. Here is a breakdown of consumer benefits of the TCP Code:

    • Telco providers must be clear about what they are offering in their phone plans and stop using confusing terms like ‘cap’ (unless the offer refers to a ‘hard cap’—an amount that cannot be exceeded).

    • Better spend management tools designed to avoid ‘bill shock’.Including improvements in billing processes and credit management, and the introduction of notifications about data usage and expenditure thresholds.

    • From 27 September telcos will be required to provide unit pricing for national calls, standard SMS and downloading 1 MB of data in advertisements.

    • From 1 March2013 customers buying a new service will receive a two-page document called the ‘Critical Information Summary’. This includes essential information about service, pricing and complaints-handling, as well as volumetric information so consumers can easily understand how many two-minute calls or texts they can make under their plan.

    • Faster, better complaints-handling, with urgent complaints resolved within two days. All of these new measures will be monitored and the telcos subject to new benchmarking standards.

    • For customers having difficulty paying their bills or meeting unexpectedly high bills, telcos must advise consumers about spend management tools, hardship advice and options to restrict a service.

    • A new industry compliance body is being formed to ensure all industry participants comply with the new code.

    According to IT Wire in its story New telco code toughens up consumer protections, Optus jumped the gun ahead of the introduction of the Code, and launched its new usage alert service which it says gives its customers greater transparency in managing spending on their mobile accounts. The new Optus service sends text alerts to Optus’ customers on most post-paid mobile plans when they reach 50 per cent, 85 per cent and 100 per cent of their voice, text and data allowance.

    IT Wire also reports ACMA Chairman Chris Chapman as saying the ACMA will put the industry on notice, advising they would take a “far more robust approach” to ensure the industry’s compliance with the new Code and had “resourced up in this space.”

    “We will conduct more audits and investigations dealing with key areas of consumer detriment and expect substantial changes in industry practices,” Mr Chapman says.

    For consumers who consider that their service provider is not complying with the code, Chapman says they “may make a complaint to the provider in the first instance and if they are not satisfied with the resolution, they should contact the Telecommunications Industry Ombudsman.”

    And, if telecommunications service providers do not comply with the code, Chapman says they faced a direction to comply from the ACMA, “while further breaches could lead to Federal Court action where civil penalties of up to $250,000 are possible.”

    We will be following these telco improvements with great interest as they relate to the volume of credit file defaults due to telco customer service issues and bill disputes.

    For those consumers currently facing what they consider to be excessive charges, or other issues with their telco which have resulted in bad credit – it is possible MyCRA Credit Rating Repairs may be able to help.

    If a credit listing has been placed unlawfully, it may be required to be removed from the consumer’s credit file. Consumers can contact a credit repair advisor 1300 667 218 to assess their suitability for credit repair. There are no guarantees of success, but the specialised knowledge of credit reporting and industry law means engaging the services of a professional credit repairer gives the consumer the best chance of having bad credit removed completely and permanently from their credit file. Visit the main website for more information www.mycra.com.au.

  • Consumers face war over credit blacklist errors – whether the bill was big or small.

    Media Release

    Consumers face war over credit blacklist errors – whether the bill was big or small.

    24 July 2012

    Australians are seeking help in droves to fight devastating credit listings which are seeing them blacklisted from credit for up to 7 years and losing dreams of homes, cars and business opportunities often for overdue bills as low as $100.

    A leading national credit repairer says the complexity of disputing credit rating defaults has led many people to seek help from the professional credit repair industry.

    MyCRA Credit Rating Repairs CEO, Graham Doessel says complaints can be just as difficult to dispute whether the bill is for $100 or $10,000 and are very seldom as simple as calling up the Creditor and telling them they got it wrong.

    “There are a host of laws which must be adhered to by Creditors when adding credit listings to consumer credit files, and likewise when disputing potential errors and mistakes – the same laws apply to be able to show cause why a Creditor should remove a default.”

    “Most consumers trying to resolve their own credit issues don’t have the knowledge of legislation or processes to effectively argue their case. They are often brick-walled by their Creditor and forced to put up with the default – banned from affordable mainstream credit for the term of the listing,” he explains.

    He says with tight lending criteria following the Global Financial Crisis, any black mark is generally going to prevent people from obtaining credit in the current market.

    “Some can’t even get a mobile phone on a plan and most that need credit are forced to pay much higher interest rates with non-conforming lenders – potentially costing them tens of thousands more in interest,” he says.

    Mr Doessel is echoing criticism from the Australian and New Zealand Ombudsman Association which yesterday, said too many people are being put on debtor blacklists for owing small energy and phone debts.

    “Often they didn’t even know that they had been credit-listed until they had applied for a mortgage or a credit card or a business loan and then they found they had been credit-listed for small amounts, were denied that credit and lost deposits, were not able to start up their business and so experienced quite severe consequences,” the Association’s Chairwoman Clare Petre told the ABC yesterday.

    Ombudsmen are calling for the threshold for credit listings to be raised to $300.

    Ms Petre also expressed her concern that people are paying private agencies to solve their problem, when public authorities such as the Ombudsman’s office can help.

    “For people who are already often financially vulnerable they’re huge costs, but they’re desperate and they’re prepared to pay that money when they could come to us for free,” she added.

    But Mr Doessel says the services of Professional Credit Repair firms are of assistance to many of the Ombudsmen and most times enhance the likelihood of a successful outcome for the client. He says they have a duty of care to exhaust all avenues of complaint, some of which may not have been within the realm of the Ombudsman to investigate.

    “It’s actually a requirement of the Code of Conduct of the Credit Repair Industry Association of Australasia (CRIAA) that the credit repairer has conducted an exhaustive investigation into the conduct of the Creditor and can provide that investigation to the Ombudsman if the Ombudsman is ever actually required to help at all,” Mr Doessel says.

    He goes on to say “Many of the Ombudsmen Bodies have seen a massive increase in the number of consumer complaints recently and some (Ombudsmen Bodies) have extensive waiting lists that many consumers cannot afford to be on.”

    /ENDS.

    Ref: http://www.abc.net.au/news/2012-07-23/ombudsman-concern-small-debt-credit-ratings/4148476

    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: nuttakit/ www.FreeDigitalPhotos.net

  • Bill shock and telco complaints finally actioned: New Telco Consumer Protection Code approved by ACMA

    It has finally come to pass – telcos have a compulsory and enforceable code to govern their behaviour towards consumers. This new code is aimed at giving consumers the transparency and clarity with their telco use that has been severely lacking in the industry and which has led to bill shock, debt issues and more unfair credit listings such as credit rating defaults.  We report on the new code governing telcos, the possible benefits for the future, and explain how the previous code has impacted telco customer credit files.

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

    Telcos have by the skin of their teeth missed government regulation. The final draft of a new Telecommunications Consumer Protection Code (TCP) submitted by telco industry body the Communciations Allicance has been approved by the Australian Communications and Media Authority (ACMA) it was announced yesterday.

    A couple of weeks ago we reported telcos had submitted their last version of the Code to the ACMA in the post Telco consumer code on third rewrite for June deadline.

    The ACMA announced in a release to the media yesterday A Better Deal For Australian Telco Customers, that it had agreed to register the telco’s version of the Code, which is aimed at giving “long-suffering telco customers materially greater protection on the big telco issues such as bill shock, confusing mobile plans and poor complaints-handling,” the ACMA says.

    A public inquiry conducted by the ACMA estimated that the annual recurring costs associated with the industry’s unsatisfactory performance under the previous code included $1.5 billion associated with consumers choosing the wrong plan, $108 million for the costs of telephone complaints and $113 million for the costs of writing off bad debts.

    “The ACMA will very closely monitor its [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”][the TCP Code’s] progress and will not hesitate to communicate to industry the need for further change, if that need arises. This is an important point as the code will apply to every service provider in Australia. Compliance with the code is no longer an option. The ACMA obviously stands ready to use its powers of investigation and enforcement if participants choose not to comply with these new code obligations (which include an obligation to report their compliance performance to the industry’s new compliance monitoring body, Communications Compliance),” Mr Chapman says.

    How have telco customers been affected?

    Recently the Telecommunications Industry Ombudsman (TIO) surveyed its services. It counted 52,231 new complaints about telcos received between January and March 2012. Almost two-thirds were about mobile phone services.

    The TIO reports new complaints about over-commitment caused by inadequate spend controls increased to 4,282 in the January-March 2012 quarter, compared to 2,181 in the same quarter in 2011. In the same periods, new complaints about disputed internet charges increased from 981 to 2,823 (180 per cent).

    “It is well known that more internet browsing and downloads are now done on mobile phones and other mobile devices. With this change in consumer behaviour, we have seen complaints about excess data charges almost treble over the last year,” Ombudsman Simon Cohen said. “The incidence of these complaints will reduce if consumers are only contracted for services they can afford, and where spend management tools such as notifications and usage meters are accurate and reliable”.

    And customer credit files?

    Almost 26% of MyCRA’s credit repair clientele in the past 12 months were Telco customers.

    Often this was due to botched phone plans and lack of data usage monitoring. Consumers have been confused when it comes to data allowance on their smartphones, and the providers have not been helping. Often clients have claimed they have gone over their data limit really quickly, or the plan they were put on was not appropriate for what they intended to use their mobile internet for.

    The problems have also extended to complaints. Many customers can have had great difficulty in cancelling the accounts or coming to a resolution with telcos over these billing issues. Sometimes consumers have reluctantly paid the bill, thought the matter was settled, only to find they were defaulted anyway, and others have just refused to pay the bill until they got some resolution. Either way, customers have been faced with at least 5 years of bad credit from these often unfair credit listings unless they have been able to make a successful complaint.

    What the TCP Code will mean for consumers

    The Sydney Morning Herald yesterday reported in the story ‘Bill shock’ code set to save $1.5b on phone bills that the new 102 –page code will be enforced from September 1, and progressively phased in over the next two years.:

    “[We] are hopeful that its adoption will result in clearer advertising, easier comparison of products, better information about contracts and better tools to help consumers avoid bill shock,” Teresa Corbin, CEO of the Australian Communications Consumer Action Network (ACCAN), which proposed the code told SMH.

    It also reported on a significant change to data usage notification rules:

    “…customers will receive warning messages when they have reached 50 per cent, 85 per cent and 100 per cent of their monthly allowance for calls, messages and data,” SMH reports.

    The basic benefits are explained in more detail in the ACMA article Fair call—new telco code to benefit consumers:

    Under the new code, telco providers must be clear about what they are offering in their phone plans and stop using confusing terms like ‘cap’ (unless the offer refers to a ‘hard cap’—an amount that cannot be exceeded).

    Customers will also benefit from better spend management tools designed to avoid ‘bill shock’. These include improvements in billing processes and credit management, and the introduction of notifications about data usage and expenditure thresholds.
    Some of the changes will be phased in to help providers adjust their systems. From 27 September, customers will be able to more easily compare costs and plans, with telcos required to provide unit pricing for national calls, standard SMS and downloading 1 MB of data in advertisements…

    From 1 March2013 customers buying a new service will receive a two-page document called the ‘Critical Information Summary’. This includes essential information about service, pricing and complaints-handling, as well as volumetric information so consumers can easily understand how many two-minute calls or texts they can make under their plan.

    The new code will mean faster, better complaints-handling, with urgent complaints resolved within two days. All of these new measures will be monitored and the telcos subject to new benchmarking standards.

    For customers having difficulty paying their bills or meeting unexpectedly high bills, telcos must advise consumers about spend management tools, hardship advice and options to restrict a service.

    A new industry compliance body is being formed to ensure all industry participants comply with the new code.

    We eagerly await the September implementation of the TCP Code, and the positive impact this will have on our customer’s credit files and hopeful reduction in the number of unfair credit listings originating from telco customers.

    Image 1: Danilo Rizzuti/ www.FreeDigitalPhotos.net.

    Image 2: Sydney Morning Herald[/fusion_builder_column][/fusion_builder_row][/fusion_builder_container]

  • Mortgage stress eased by RBA cuts to interest rates…if passed on

    The Reserve Bank of Australia has cut the cash rate by 25bps today – which should ease mortgage stress and the rate of credit rating defaults, provided banks pass on the reduction.

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

    Today Australian Broker reported the cut in its story RBA maintains cutting course and says weak retail figures and low inflation has contributed to the cut.

    “It is a relief to see that the RBA finally seems to have grasped the severity of the situation facing our main employment industries like construction and retail,” 1300 Home Loans’ John Kolenda said.

    While Kolenda conceded that the rate cut would not be a panacaea for consumer sentiment, he said it would provide a much-needed boost.

    “This rate cut is not the end of the road by any means but it does mean that homebuyers and consumers will be a little less cash-strapped and might step back a bit from their siege mentality,” he said.

    It seems from experts we can determine that all but those related to mining and other resource sectors are struggling or slowing, so a drop in interest rates will be welcome, particularly for those teetering on the realm of defaults. A cut like this can represent a significant saving for consumers, provided that banks mirror the RBA cut, which in the recent past has not readily been the case.

    Unfortunately, for those living with bad credit history, these cuts will be negligible and they will still be paying a significant amount more in interest through the non-conforming sector.

    So any actions to prevent the number of likely defaults is extremely heartening if mirrored in interest rate cuts by banks.

    Image: jscreationzs/ www.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.

  • A consumer advocate shows Aussie singles how to recover from post-relationship credit crisis.

    Being lumbered with relationship debt is a common cause of bad credit. People can be stuck to a bad relationship long after the people in question have got out and moved on. A bad credit rating, or credit rating defaults, can hinder a person’s ability to obtain new credit for between 5 and 7 years, so it is important to cover yourself and your credit rating against an STD (Sexually Transmitted Debt).

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

    Recently I read a fantastic article in Brisbane’s Courier Mail on How to Fix Relationship Debt. The perspective was provided from Generations Columnists Gen Y’s Justine Davies, Gen X’s Bruce Brammal, Baby Boomer Mark Bouris and Retiree Kerrin Falconer.

    I would advise people to read the article and apply the principles for their generation.

    Here is a great point I found in this article:

    “A FEW years ago, Paul Clitheroe told me that he wanted money to be the sex of the next generation.

    He explained that when he was young, sex was a taboo topic whereas now it’s talked about everywhere. He hoped that Gen Y would do the same thing for money: bring it into the mainstream.

    The best place to start making that conversational change is with your partner, because according to Relationships Australia, conflict over money is one of the top causes of arguments and relationship breakdowns in Australia,” Justine Davies says.

    Being in love is one of the best feelings in the world, but not one of the most practical states to be in. Sometimes personal financial values go out the window and people lose themselves in the process of adding to the ‘relationship’ and creation of ‘us’.

    But it is important to think practically about joint finances.

    Many people come unstuck by not asking the tough financial questions about their prospective partners early in the relationship.

    And when they fail to, when love turns sour they can end up broken hearted and broke.

    Black marks on your credit rating – the ‘STD’ that is hard to get rid of.

    When two different money ‘personalities’ combine, the potential for both to be financially damaged is greatly increased.

    Every day we meet people who need help with fixing credit rating issues due to no fault of their own really, but they have fallen under the financial shortcomings of a partner.

    When people take out any credit together, such as loans, utility accounts, homes and rental properties, they become very reliant on the partner to keep up their end of the credit repayments.

    Sometimes one partner ends up with a bad credit score, simply because the other person on the account has not kept up with repayments. People can be unaware their partner is generating defaults on their credit rating until it is too late.

    In many instances it’s not until people apply for credit in their own right that they find out about the credit problems their partner has initiated. The relationship may even have ended years ago and the partner is still paying for it.

    Bad credit history can last for 5-7 years, depending on the listing. The most common type of negative listing is a default, and is placed by the creditor when an account holder fails to make payments past 60 days.

    For Valentine’s Day this year, I wrote a post titled ‘Valentines Day Blues. What You Need To Know About Your Credit Rating When Love Goes Bad.’

    Here are my 10 Steps for financial separation to protect your credit rating from that post:

    10 Steps for financial separation

    1. Cancel joint bank accounts. You could use the money from these accounts to go towards paying off any debts you may have together.

    2. Pay off and cancel joint credit cards. If the debt on the card/s can’t be paid off, inform the creditor that you have separated and ask them to put a stop on the account so there may be no more transactions. They could possibly make arrangements to transfer the repayments to two separate accounts.

    3. Resolve the mortgage debt. Sell the home and divide the proceedings, or sell your share of the home to your ex-spouse or vice-versa. Before this takes place, notify the bank you have separated. Make sure no further amount can be redrawn on the loan and that you receive separate statements whilst you are separated and both still own the property.

    4. Transfer names on other accounts. Phones, electricity accounts, rental properties, rates, car loans and store credit should all be transferred to one name as appropriate.

    5. Pay any unpaid accounts. No matter who has accrued these debts, the creditors will still see you as responsible. Ensure all accounts are paid on time while they are in both names.

    6. Keep a record of all undertakings. Keep good paperwork and notes related to the separation, including cancellation or changes to any accounts for future reference.

    7. Employ a good family solicitor. Legal advice is important as it relates to children, family businesses and property. Also if anything runs off course with division of debt, they can give good advice on the next course of action.

    8. Notify credit reporting agencies. Let Veda Advantage, Dun & Bradstreet, or Tasmanian Collection Agency know of your separation and any steps you have taken to separate accounts to date.

    9. Check your credit score. Request a copy of your credit report and check each entry. A free copy of your credit file is available every 12 months from one or more of the credit reporting agencies in Australia. This is essential particularly if settlement is drawn out over a number of years.

    10. Seek help from a professional credit repairer for any defaults, Writs or Judgments. Once outstanding accounts accrued by your spouse are paid, there is the issue of the bad credit score which needs to be cleared so you may have the opportunity to borrow again in the future.

    Gen X’s Bruce Bammal describes the steps people can take if they find themselves in a post-relationship debt crisis:

    “If an ex has done the dirty on you financially, urgently get hold of your credit file to see exactly what damage has been done. They’re free through Dun & Bradstreet (dnbcreditreport.com.au) and Veda Advantage (mycreditfile.com.au).

    Assess the damage and start repair jobs, if possible, by contacting the organisations directly. Then follow up with the credit reporting services.

    Cancel joint accounts and credit cards. End all financial ties. See a specialist about recovering from sexually transmitted debt,” he says.

    The repair jobs Bruce talks about on a person’s credit rating could be small or could be significant. But if the bad credit rating really shouldn’t be there, if the listing contains errors or inconsistencies, then the negative effect on the person’s finances should warrant attempting to have the bad credit history removed.

    Current legislation does allow people to have inconsistencies removed from their credit file, but the whole process is more complicated than most people are led to believe.

    Credit reporting is governed by strict laws that the creditor must abide by, and there is no point people going in to bat for themselves without an extensive knowledge of this credit reporting legislation and a good ability to negotiate with creditors.

    In reality many people are not successful when they attempt to fix bad credit themselves. Remember, often it is a large creditor which put the listing there in the first place, so people need to know what to say to these companies and the way to say it. They also need to be thoroughly schooled in the legislation (or have enough time to get to know it), to ensure a successful credit repair. Basically people are preparing a ‘case’ to show reason as to why the creditor should remove the listing.

    In the preparation of this case and presentation to the creditor there are many instances where individuals can write, do or say the wrong thing, which can not only mean they get the creditor ‘offside’ but can damage the chances of having the listing removed for the entire term of the listing. So for the best chance at success, consult a reputable credit repair company. Visit our main website at www.mycra.com.au or call tollfree 1300 667 218.

    Image: graur codrin/FreeDigitalPhotos.net

  • Government warning about Facebook scams

    It was only going to be a matter of time before identity thieves would target their victims through scams on social networking site Facebook.

    South Australian Minister for Consumer Affairs, Gail Gago has issued a warning statement for people about new methods of scams which she says are very advanced.

    “Social media has played a role in enabling scammers to disguise themselves as legitimate companies or individuals to persuade victims to hand over money or personal details…With more consumers purchasing goods online, there now is a greater risk that a consumer could become a victim of identity theft. Scammers use this as an opportunity to offer non-existent goods ranging from puppy dogs to motor vehicles to con unsuspecting customers,” she says.

    The Federal Government’s Stay Smart Online explains how scams are perpetrated on Facebook. They say when data is shared between people who know each other, there is a higher level of trust and fraudsters are taking advantage of this. They try and get victims to click on links or give over information. Ultimately the purpose is to generate revenue for the fraudsters; they may use a number of techniques including using malicious software to take control over your computer, and/or steal people’s information.

    Not widely known, is just how far fraudsters may be able to go with the information they receive from their unsuspecting victims. Bank account or credit card details, when received in conjunction with the other information displayed on social networking sites like Facebook can end up being a recipe for disaster for people’s credit ratings.

    Fraudsters may be able to use those details to take out credit in the victim’s name. Identity fraud can often go undetected, until the victim applies for credit and is refused due to defaults they had no idea about.

    Credit rating defaults stick for 5 years, and for anyone who has lived with a black mark on their credit file, they are virtually banned from most credit for 5 years. This includes major credit through to mobile phone plans.

    Just because someone claims to be a victim of identity theft, it doesn’t automatically guarantee they will have their good name restored. Lengthy negotiation with creditors often ensues, with the victim requiring copious amounts of evidence and usually police reports to prove the case of identity theft.

    So it is important to heed the almost daily warnings of scams we hear about, in order to stay one step ahead of what can be a very damaging crime.

    The Premier’s office cites these top five scams reported in South Australia for the last financial year:

    • Computer (PC) virus checks: An individual phones, claiming they are a certified computer engineer and convinces the consumer their computer has a virus. The consumer allows the scammer access to their hard-drive leaving personal details exposed.

    • “Nigerian” and similar scams: Consumers are promised huge rewards if they help someone to transfer money out of their country by paying fees or releasing their bank account details.

    • Overseas lotteries: Consumers receive a letter from an overseas lottery or sweepstakes company claiming the consumer has won money or prizes, and then asks the consumer to pay a fee to release the winnings, or to provide personal details.

    • False billing (blowing): Targets small businesses who receive a bogus bill for a listing or advertisement of their business in a publication they never appeared in.

    • Employment scams: Consumers are offered employment in non-existent markets. Scammers claim CVs will be considered upon payment of a fee to process the application, with the consumer usually not receiving a response and being left out of pocket.

    Consumers are urged to report any suspected scam to the ACCC via the SCAMwatch website www.scamwatch.gov.au or call the information line on 1300 302 502.

    We recommend all internet users subscribe to the government’s Stay Smart Online alerts for advice on new scams and viruses which may affect their computer and threaten their good name.

    If people have already been a victim of a scam, and they want help with credit repair, contact MyCRA Credit Repairs. We permanently remove defaults from credit files.

    Image: Master isolated / FreeDigitalPhotos.net