MyCRA Specialist Credit Repair Lawyers

Tag: credit rating

  • Plain English Credit – What you should know about taking on credit

    What you should know about taking on credit

    What is my credit rating?
    Your credit rating is a file on your credit history and is collated by the major credit reporting agencies if you have ever been credit-active.  Your credit rating is then checked by any financial institution or credit provider and is used to assess both the amount you are able to borrow and your ability to repay the loan.
    What does ‘credit active’ mean?
    Anyone that has borrowed money, or has established an account for services is credit active and will have a file in their name. This includes mobile phone plans, accounts with utility companies, rates accounts and of course loans of any kind.
    What is defined as a ‘bad’ credit rating?
    In broad terms, any credit defaults, court actions or writs, external administrations and bankruptcy are all recorded on your credit file and would be considered ‘bad’ credit history by most credit providers.
    In this current economic climate basic defaults and even too many credit enquiries or applications for credit may be considered to be tarnishes on your credit rating.
    How do I know if I have a bad credit rating?
    If you are unsure what is on your credit file, it would be worth taking the time to find out.
    There are three major credit reporting agencies in Australia: Veda Advantage – which holds the credit file of over 14 million Australians, Dun and Bradstreet and Tasmanian Collection Service.
    You can write to or email one of these agencies and request a copy of your file.  If you are not in a hurry there is no charge to you but it will take 10 working days from application to receive this information.
    What is not realised by many people is how easy it is to have a default slapped on their file.  If a bill is more than 60 days late (including rates, power, mobile phones) then a provider has the right to notify you of their intentions to record this default on your credit file. Even if this bill is paid and noted on your file, this default usually remains on your record for 5 years.
    I have found defaults on my credit rating, what are the consequences of this?
    If you discover you have a bad credit file, you will find it very difficult to obtain credit in the future. Generally this problem will keep occurring for the 5 years the default is on your file. This will probably prevent you from obtaining a home loan with most lenders and possibly lead to credit refusal of many kinds from cards to phone plans.
    What can I do to fix my credit rating?
    Once you have obtained a report there are three things to consider:
    1. Check the accuracy of the report. If there are errors, be aware you do have the right to have errors rectified.  Likewise, if there are numerous strange defaults and or applications for credit that you don’t recognise – you would need to immediately investigate these and notify Police in case of identity fraud.
    2. Check you were informed of any intention to list. Current legislation requires you to have been informed in writing of any intention from creditors to list you as a defaulting on credit.
    3. Check the fairness of the listing. Only serious credit infringements should be recorded, or overdue bills in which 60 days have elapsed since payment was due.
    How does My CRA work to repair my credit rating?
    In many cases where people have attempted to remove the default themselves, they have come across difficulties and defaults have not been cleared. Most times the creditor will explain to the client that defaults DONT EVER get removed. The best they can do is mark the listing as paid (if it’s been paid).  This may not be sufficient to ensure credit is obtained with some lenders.
    If you have a default, writ or judgement that has errors or just shouldn’t be there – there is a good chance that My CRA can actually remove it – meaning your financial future is looking a whole lot brighter.
    My CRA works with creditors to negotiate on your behalf and work for your best outcome based on the creditor’s compliancy with the current legislation. We will also look at any other extenuating circumstances to determine if there is an avenue we can investigate which results in having the listing removed.
    We have had up to a 91.7% success rate with cases we take on.   Many credit ratings are cleared within or around 21 working days though some do take longer depending on the difficulty of the case.
    Should I try to cut out all credit from now on?
    Credit is not all bad.  In fact, not having ever taken out credit can harm your chances of obtaining a loan just as much as having a bad credit rating.
    However, we do advise you to be cautious with credit. Start small, for instance a mobile phone plan or store credit card. Make all repayments on time and work methodically to build up a solid credit history.
    What can I do to maintain a good credit rating?
    1. Make all payments on time. This is the easiest way to ensure there are no discrepancies or defaults on your credit file.
    If you are unable to make a payment on time, contact the creditor. They may be able to set up a payment plan for you until you get back on your feet.
    2. Regularly obtain a copy of your credit file – once a year is recommended.
    3. Sign up for Veda Advantage’s Alert system. For approximately $50 per year they can send you a copy of your credit report and email you of any changes made to your credit file within the 12 months of membership.
    4. Keep credit card limits within a set budget. Don’t be tempted to accept the sky high limits some banks offer as it could encourage you to spend needlessly and blow out your budget.
    5. Be aware of excessive credit enquiries. If you are not sure about your credit health, get it checked before applying for new credit. Declined credit applications on a person’s file can hinder their chances of obtaining a loan. Some lenders are rejecting loans for as little as two enquiries in 30 days, or six enquiries within the year.
    6. Don’t shop around for credit. You should only apply for credit you have full intention of pursuing. Every application for credit will be noted on your file, but it does not say whether the application was approved or declined. It could look to creditors like you have been declined multiple times.
    Please Note: Our previous results of up to 91.7% have applied only to consumer applications and past results are no indication of future performance

  • What Young People Need To Know and Do

    As a young person, you should be extra vigilant with your credit file.
    Generation Y is responsible for more than one third of Australia’s total consumer credit defaults, despite making up 20% of the entire credit active population. Gen Y also has more personal loan and telecommunication defaults than any other generation, relative to population size. (Statistics from Veda Advantage)
    The system of credit we have is eager to suck people in but shows no remorse for people who fall off track. Young people have got to be wise and ensure they are making credit work for them, not letting it beat them.
    Your credit file lists personal details like name and address, but also any times you have applied for credit, any defaults (overdue accounts), court judgements, writs and bankruptcies.
    Many young people don’t realise how easy it can be to end up with a bad credit rating.
    Here are some of the typical situations where you can find yourself with a black mark against your name:
    Unpaid accounts: Any credit accounts or loans – including mobile phones and electricity that run over the due date are considered unpaid accounts. If they are not paid by the due date, creditors will make a note of it. If the account is not settled within 60 days from the due date, creditors can list this unpaid account or loan on your credit file as a default.
    Moving/traveling: If you move around a lot, the danger can be ending up with defaults on your credit rating due to unpaid accounts you were not aware of. Typically an account gets sent to your previous address and remains unpaid and then listed as such on your credit file. Consider a P.O. Box for all your mail or alternatively a parent’s address.
    Share accommodation: Any accounts which have your name on them, regardless of who intends to pay them are your responsibility – this includes rent. Sometimes people get caught out sharing houses, and someone leaves bills unpaid which then have dire consequences for your future.
    Identity fraud: Young people are increasingly victims of identity theft – and often it is someone they know. Typically, someone uses your identity to secure credit in their name – mobile phone accounts, credit cards, store credit – in some cases even mortgages. See our website for more information on identity theft and how it could affect you.
    To avoid the disappointment and embarrassment of finding out about your bad credit rating only after being declined credit, MY CRA recommend you check your credit file every 6-12 months to ensure there are no black marks against your name, just as you would check your bank statements or your super account.
    You can request a copy of your credit file for free from the major credit reporting agencies – Veda Advantage, Dun & Bradstreet or Tasmanian Collection Services (if you are Tasmanian). This will be provided within 10 working days – or for a fee it can be provided urgently.
    The consequences of a bad credit rating:
    A bad credit rating sticks. Many times you will find you are black listed from credit for a five year period following a default on your record. Even having too many credit enquiries or a default from a simple unpaid phone bill can be enough to be refused a home loan with most lenders in the current economic climate.
    Think of everything you want to achieve in the next five years. Maybe you would like to buy property, start a business, buy a motor vehicle, borrow money for travel, or even just take out a credit card. The chances of you being able to do this are greatly hindered with a bad credit rating.
    A clear and healthy credit file really is the ticket to financial freedom.
    How to repair your credit rating:
    If a credit file check does uncover some nasty surprises – it could be possible to repair the damage done by contacting MY CRA.
    If a default, writs or judgements has errors, has been entered unfairly, unjustly or just shouldn’t be there at all, we can help to remove the offending black mark and clear the file – something which you could find very difficult to do on your own.
    Most times a credit reporting agency will tell you that defaults are never removed, but can be marked as paid. You are then stuck with a dodgy credit rating for 5 years. But you shouldn’t have to put up with it, as it is possible to have many defaults removed.
    MY CRA has a 91.7% success rate in removing defaults on every case we take on. Usually the turn around is 21 working days though some can be longer depending on the difficulty of the case.
    But, prevention really is better, and cheaper than the cure.
    Credit reporting agency Veda Advantage suggests some further ways for young Australians to keep their credit rating clean:
    • Pay bills on time.
    • If people are having trouble paying, they should contact the organisation they owe money to, It may be possible to set up a payment extension system if people are honest about their situation. It is often the failure to respond to a bill or notify a business of your intention to pay that causes them to proceed to default stage.
    • Don’t take submitting credit applications lightly. Current legislation in place means organisations running credit checks can’t see whether or not an application was successful – all they can see are the number of applications.
    • Consider pre-paid mobile phone services.
    • Keep addresses and other details accurate and up to date to ensure credit providers are sending notices to the correct address.

  • Privacy Commissioner gets tough on Vodafone

    An investigation into possible breaches of privacy by Vodafone reveals the privacy measures that are currently in place there are inadequate to ensure the security of its customers and could result in identity theft.

    Recently I commented on an investigation underway by the Privacy Commissioner into allegations that Vodafone’s customer information was available on an internet site (MyCRA Blog January 10, 2010).

    Commissioner Timothy Pilgrim has just released his findings and below are his statements:

    “In the course of my investigation I did not find any evidence that substantiated the claim that Vodafone customers’ personal information was available on a publically accessible website. However, in my view, Vodafone did not have appropriate security measures in place to protect customer’s personal information at the time. Consequently Vodafone was in breach of their obligations under the Privacy Act,”

    “I was particularly concerned by Vodafone’s use of shared logins and passwords for staff and the broad range of detailed personal information available to them.”

    As part of an undertaking given to the Privacy Commissioner, Vodafone agreed to review its IT security, and all appropriate staff including employees in retail stores and dealerships will be issued with individual login IDs and passwords.

    “I am pleased that on being made aware of the allegations Vodafone acted promptly to put in additional security measures to limit access to the personal information it holds.  While I welcome the steps that were taken I have also asked Vodafone to report back to me on the progress of the review and implementation of increased security measures,” Mr Pilgrim said.

    Mr Pilgrim said that this case should serve as a reminder to all businesses using customer management systems to ensure that they have robust privacy protections built in.

    “All businesses must take the privacy of their customers seriously. Systems should be up to date and secure and staff should only have access to the information that is necessary for their work.  To comply with the Privacy Act and retain the trust and loyalty of their customers, I urge businesses to review their data security practices to prevent the likelihood of a privacy breach occurring which could have the potential to lead to identity theft or fraud,” Mr Pilgrim warned

    Security of your personal information should be taken very seriously.
    The AUSTRALIAN CRIME COMMISSION now sites identity theft as the “fastest growing crime in AUSTRALIA.”
    Compromised financial information can be used directly to attempt to access the victim’s accounts, or be used to obtain credit cards/ loans in the victims’ name.
    Fraudsters have even been known to send SMS and emails from a compromised identity to victims’ friends and associates, asking for money on the victims’ behalf. This often involves a story in regards to the victim being stranded somewhere and requiring the funds urgently.
    This is not to say that any Vodafone staff would be dishonest enough to misuse the information they had available to them, but it is good to know the new system they will be implementing will prevent this possibility.
    Identity theft can catch anyone out and often times it is someone you know who has used credit in your name. For lack of reportage, we may not know the real scale of this crime.

    Our message at MyCRA to someone who has found themselves victims of identity theft is firstly don’t be embarrassed to report it to police – it is only through identity theft being reported that data gets collected and appropriate preventative measures eventually get put in place.

    Secondly don’t put up with the damage it causes to your credit file and to your life.

    Get in touch with us at MyCRA and see how we can help you get your financial freedom back again.
    Visit our site for more information on identity theft and how to prevent it happening to you.

    www.mycra.com.au

    LINKS
    PRIVACY COMMISSIONER’S STATEMENT:
    http://www.oaic.gov.au/news/media_release_vodafone_omi.html
    ACC IDENTITY CRIME STATEMENT:
    http://www.crimecommission.gov.au/media/faq/financial_crime.htm

  • First Telstra & Now Vodafone… What Privacy Protection Do We Really Have?

    Recently I blogged about Telstra allegedly breaching the privacy of some 200,000 clients by sending out letters to clients containing the details of other Telstra clients phone services and contact details.

    Now it seems, Vodafone have allegedly breached privacy also..

    According to a OAIC release, Vodafone have allegedly allowed personal and private Client information to have been available on a website which may have breached the Privacy Act.

    I am glad I am not a Vodafone client right now.

    MyCRA works everyday with clients that have defaults on their credit files and with hundreds of thousands of ‘reported’ cases of Identity Theft every year in Australia, this Vodafone issue is just what the organised gangs are after to steal more identities.

    The following excerpt is directly from the OAIC Media release:

    The Australian Privacy Commissioner, Mr Timothy Pilgrim, will investigate allegations that Vodafone has made the personal information of its customers available via an internet site.

    “Our Office takes all allegations of privacy breaches very seriously. All organisations should ensure the security of their customers’ personal information or risk breaching the Privacy Act and causing serious customer dissatisfaction and possible loss of business as a result,” Mr Pilgrim said.

    “The Office’s first step will be to determine whether Vodafone’s activities constitute a breach of the Privacy Act. I am concerned about the amount of personal information that may have been disclosed which could include sensitive information. For this reason I have opened an own motion investigation into the matter today. I have spoken with the CEO of Vodafone and he has assured me of Vodafone’s full cooperation,” Mr Pilgrim said.

    The Australian Privacy Commissioner also advised that if an individual believes their privacy has been interfered with they should first contact Vodafone and if they are not satisfied with their response they can make a complaint to the Office of the Australian Information Commissioner.

    If you have fallen victim to Identity Theft, firstly report it to the police and cancel any accounts that may have been affected.

    Once you have that area under control, Give MyCRA Credit Rating Repair a call and we can guide you through the process of removing any black marks that may have appeared on your credit file or credit rating as a result of the Identity theft Issue

    You can contact MyCRA Credit Rating Repair on 07 3124 7133 or www.MyCRA.com.au

  • How often should I check my credit file?

    My CRA recommends you obtain a report on your credit file on a regular basis, usually every 12 months.  There are a number of reasons you should check your credit file regularly.

    • Any listings that have been added to your file without your knowledge have been added incorrectly.  They are therefore errors on your credit file and can be removed.
    • If you are going through a divorce or separation, your spouse could have incurred debt in your name without your knowledge.
    • You may have been the victim of identity fraud.  On your file could be credit applications and defaults from different providers in your name that you have no knowledge of.
    Veda Advantage has a facility available called ‘Veda Alert’.   For a fee, Veda can send you a copy of your credit file within one working day, and alert you to any changes to your credit file over 12 months.
    http://www.vedaadvantage.com/personal/mcf/my-credit-file.dot

    If you would like more information on removing defaults from your credit rating, please call 07 3124 7133 of log onto www.MyCRA.com.au for FREE information

  • How Do I Know What Is On My Credit File?

    You can check what is on your credit file in a number of ways.  If you have time on your hands, you can request a copy of your credit report for free from one of the credit reference agencies.  The request needs to be made in writing, and your credit report will take 10 working days from date of receipt to be sent to you.

    If you require it urgently, the credit reference agencies will charge you a fee of around $30, and generally your credit report will be despatched for you within one working day.  Below are links for credit reporting agencies:

    http://www.vedaadvantage.com/personal/mcf/my-credit-file.dot

    http://dnb.com.au/Credit_Reporting/Order_my_consumer_report/index.aspx

    http://www.tascol.com.au/reports.htm

    For more information on removing defaults or bad credit listings from your credit file, please have a look at www.MyCRA.com.au or call 07 3124 7133 for FREE info..

  • Merry Christmas from MyCRA Credit Rating Repair

    Merry Christmas from Graham and the team at MyCRA Credit Rating Repair.

    We have had a tremendous 12 months and are very thankful to all of our clients and brokers that we’ve been able to help so far.

    This last year has seen us grow and expand far outside of our expectations and with that growth we have had our ups and downs.

    We’ve had interesting times with suppliers and ex suppliers, we’ve had major creditors flaunting their responsibilities to their clients and the law. We’ve had tremendous successes that have seen our best ever removal of a telco default within 1 1/2 days of our client paying his stage 2 fee.

    We have continued to grow and learn so much as a company. We have found better and more time efficient ways of dealing with creditors and helping them to understand their obligations to clients, including publishing resources that will help creditors make less mistakes in the future.

    This we hope may lead to decreasing numbers of incorrectly added defaults on clients credit files. In conjunction with the ACCC, ASIC, the office of Fair Trading, The Privacy Commissioner and several other bodies in Australia, we are working to improve the standard of information reported to Credit Reporting Agencies to improve the data quality Nationally.

    2011 is looking like a very exciting time for MyCRA with the recent launch of our own National Agency Rollout Program aimed at getting local representation on the ground across the country.

    Within weeks of the soft launch, we had received several genuine enquiries for placement and of the applications received we welcomed one new agent in Melbourne South East and one new Agent in Sydneys’ North west. We expect this number to be multiplied ten fold in the first half of 2011.

    We also saw the launch of our offices in New Zealand with an office in Auckland and Queenstown. I look forward to continuing to drive the KIWI expansion.

    We will continue to move our clients files forward with full staffing throughout the Christmas period and further staffing increases through January to cope with the very high demand for quality professional default removal and credit rating repair services.

    Thanks again from all of us at MyCRA Credit Rating Repair and we look forward to helping you again very soon.

    With warm seasons greetings
    MyCRA Pty Ltd

    Graham Doessel
    Founder & CEO

  • Identity Theft – How to avoid it – What to look for – What to do…

    Identity theft – how to avoid it; what to look for; what to do

    A 2007 Australian Bureau of Statistics survey shows over 500,000 people in Australia have been victims of identity fraud, with the majority coming from credit or bank card fraud.

    Not only does identity theft cause financial hardship at the time, but can amount to a great number of defaults on your credit record.  Often by the time the Police become involved, you may have credit applications, possibly defaults, mortgages, and mobile phones already on your file incorrectly.

    The culprits can range from scammers working overseas to local gangs.  It can also be someone you know. It’s important to be vigilant with keeping your personal information Image of Man stressed lookin through papers worried about Identity theftsecure.  Here are some things to be aware of.

    The main ways your identity can be stolen:

    Stealing your wallet or purse.  From there thieves may be able to gain your address, credit card details, bank details, drivers licence and more.

    Forwarding your mail – Offenders can have your mail redirected to another address, where they will probably receive bank statements, phone bills, rates notices, or car registration information that they can use to steal your identity.

    Card skimming on ATMs – where thieves set up a machine which skims your card’s details when you use the ATM.  There may also be a separate camera installed to record you entering your PIN number.  Or dodgy shops and restaurants have a separate ‘skimmer’ which they zip your card through, which reads your personal information and card details.

    Online accessing of your personal information – this can be via social networking sites, where people often post information on birth dates, addresses, phone numbers and email addresses.  The internet can also be used to access credit card and bank details by hackers.  Sometimes they use a combination of all in order to gather enough information to steal your identity.

    Dumpster diving – Organised gangs can go through your rubbish looking for old rates notices, bank correspondence, phone bills, any documents that the organisation can then use to send some one to get a copy of a marriage certificate, a copy of your birth certificate, then a ‘replacement’ copy of your driver’s licence.  Once this is accomplished they can go as far as opening bank accounts or buying properties – all in your name.

    Phishing scams –You receive an e-mail from your bank or trusted company, asking you for information. It looks real, but it’s designed to fool you into handing over important information.

    Fraud ‘alerts‘ – Scammers pretend to be from your bank or similar place and contact you about possible fraud to your account – tricking you into handing over your information so they can rectify the problem.

    Career Advertising – Scammers post fake job applications and then steal the personal information you provide to them.

    The signs of identity fraud:

    -Suspicious entries on your credit card statements, bank statements or statements for accounts you were not aware of holding.

    -Money missing from your bank account/s

    -Missing mail – eg not receiving mail from your bank, Centrelink etc.

    -Credit refused somewhere.  If you feel there is no reason for the credit refusal, take     steps to get a report on your credit rating to find out where the default originated.

    -Mail about credit applications you have not taken out yourself

    -Phone calls or emails from ‘banks’ asking for your account details to be verified

    What you can do to protect yourself from identity theft:

    From this day forward, make sure your personal details are guarded very closely.

    Buy a shredder for home and ‘cross shred’ every piece of personally identifiable information that is no longer required.  Never ever just throw away a bank statement or credit card statement.

    Sign up to ‘My Veda Alert’ from credit reporting agency Veda Advantage to receive email alerts whenever a change to your credit file takes place for 12 months.  You also get a free copy of your credit file dispatched within one working day. Check all entries on your credit rating, and make sure each entry is valid and you have not already become a victim.

    Be protective of your cards. Check the ATM before you use it for anything that looks out of the ordinary – particularly strange looking boxes attached to it.  If you are unsure, use another ATM and report your suspicions to the bank.

    Also make it a habit to watch when someone swipes your credit card at a shop or restaurant.  This should only be done once from the one machine.

    Make online safety paramount. Some recommendations from the government’s Stay Smart Online website are:

    • Install security software and update it regularly.
    • Turn on automatic updates so all your software receives the latest fixes
    • Set a strong password and change it at least twice a year
    • Stop and think before you click on links or attachments
    • Stop and think before you share any personal or financial information – about you, your friends or family
    • Know what your children are doing online – make sure they know how to stay safe and encourage them to report anything suspicious.

    Always check your credit card statements and bank statements when they arrive and make sure every entry is yours.

    Chase up missing mail. Be suspicious if you don’t receive bank statements or bills and contact the companies if it seems they have missed sending you statements for any reason.  It may not be a case of ‘no news is good news’.

    Be wary when strangers call.  Be reluctant to give out personal information to anyone     who calls or emails claiming to be from a bank or similar institution.  If in doubt hang             up and verify the identity of the caller with the main phone number you have on file.

    The Privacy Commissioner’s website has a great online questionnaire. This gives you an assessment of how vulnerable you may be to identity fraud. http://www.privacyawarenessweek.org/id_theft_tool/index.html

    What to do if you find yourself a victim of identity fraud:

    1. Contact your local Police immediately.

    2.  Contact your banks and any other relevant institution such as Medicare, Department of Transport, Department stores, anywhere where thieves might request ‘replacement’ copies of cards.

    3.  Gather evidence of the identity fraud, and make copies of any discrepancies on your statements for the relevant authorities.

    4.  Contact a reputable credit repairer such as My CRA, who will order a copy of your credit rating report, be able to check each entry on your file and remove the defaults completely from your file – which shouldn’t have been there in the first place.  This could save you money on lawyers and months of your time talking to creditors with the process taking from 3-21 working days (average).  We have a 97.1% success rate of removing defaults if we take on the case.

    Read more on identity theft:

    http://www.abs.gov.au/ausstats/abs@.nsf/Latestproducts/1301.0Feature%20Article13012009%E2%80%9310?opendocument&tabname=Summary&prodno=1301.0&issue=2009%9610&num=&view

    http://www.ag.gov.au/identitysecurity

    http://www.scamwatch.gov.au/content/index.phtml/tag/identitytheft

    http://www.staysmartonline.gov.au

    http://www.vedaadvantage.com/personal/mcf/my-credit-file.dot

  • Has Telstra Put 220,000 Clients At Risk Of Identity Theft By Their Error?

    Telstr has sent out 220,000 ‘botched’ letters to clients with other customers information showing what Plans, Phone numbers, even Silent Numbers  and Names of other clients.

    This could SERIOUSLY affect the privacy of 220,000 people in a real way and The Australian Privacy Commissioner is not happy.

    The Australian Communications and Media Authority Chairman, Mr. Chris Chapman said yesterday “The main priority initially is to limit the damageto consumers caught up in

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    Chris Chapman photo
    Chris Chapman, Chairman of the ACMA

    this mail out and where possible to ensure remedies are quickly implimented.”

    “I have spoken with Telstra and they have assured us they will fully co-operate with the ACMA and other regulatory agencies to minimise the fall out for customers,” Mr Chapman said.

    Mr. Timmothy Pilgrim  (The Australian Privacy Commisioner) has advised that his office will commence an investigation into the matter.

    Mr. Pilgrim went on to say, “While I welcome Telstra’s prompt advice that this incident occurred and that it has taken steps to contact affected customers, I am concerned about the amount of personal information that has been disclosed which includes potentially sensitive information such as silent numbers.”

    “Customers expect their personal data to be protected by organisations and incidents such as this are very serious. For this reason my Office will be opening an investigation into the matter today,” Mr. Pilgrim continued.

    Telstra has acted quickly to set up a hotline for its affected customers 1800 307 987.

    Graham Doessel CEO of National Credit File Repair Firm My CRA said, “While Telstra,

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    Graham Doessel Photo
    Graham Doessel, MyCRA CEO

    The Privacy Commissioner and The ACMA are all working together to get this mess cleaned up, the simple truth is the damage has already been done.  The amount of information contained in these letters could be the last piece in the Identity Theft Puzzle.”

    “There are organised gangs that actually go through peoples rubbish just looking for discarded rates notices, phone bills, credit card and bank statements, old rego papers and anything else they can use to convince the authorities that they are you,” Graham Doessel continued.

    Mr. Doessel also commented, “Once the organised gangs have come back enough times (can take many months), got the paperwork they need, they will systematically go about building a copy of your identity.  Then they can access bank accounts, get credit cards, apply for loans, phone accounts, and in some cases, buy property in your name. Some have even mortgaged or sold the family home of their Identity Theft Victims.”

    A 2007 Australian Breau of Statistics survey shows over 500,000 people in Australia have been victim of Identity Fraud, with the majority coming from Credit or Bank Card Fraud.

    If you think there is even a small chance that you may be the victim of Identity Fraud, (also known as Identity Theft) the simplest thing you can do is to contact www.MyCreditFile.com.au  and request a Free copy of your credit file.

    You are entitled to one free copy of your credit report ever year and it will arive within 10 working days.  If you need a copy of your credit rating any sooner, you can pay a small fee to have it emailed to you within a couple of hours.

    If you do discover there are concering entries on your credit rating, you have hte right to contest those and potentially have them ammended or removed.

    Contact your creditor and ask that the items are updated or removed though we do find that unfortunately many clients are bluffed by their creditors and are unsuccessful after many months of trying.

    If you are time poor or just want he best chance of repairing your credit rating, investigate the option of engaging a professional credit repair firm.

    All professional credit repair firms will have a detailed website, publish all of their prices, have success stories from real clients and display their success rates.

    Do your home work and then get your financial integrity back.[/fusion_builder_column][/fusion_builder_row][/fusion_builder_container]

  • YOUR CREDIT RATING HEALTH – & How To Check And Maintain It..

    Your credit rating is just like your health.  You can get regular check ups and maintain it, or you can wait until something goes wrong before you get it fixed. Being aware of your business’ credit file history can go a long way to not only keeping it afloat, but allowing for future expansion. GRAHAM DOESSEL addresses some common questions.

    WHAT is my credit rating?

    Your credit rating is really a file on your personal or business credit history and is collated by the major credit reporting agencies on anyone who has ever been credit-active.  Your credit rating is then checked by any financial institution or credit provider and is used to assess both the amount you are able to borrow and your ability to repay the loan.

    read the whole story…

  • What the consumer should look for in a Credit Rating Repair Company..

    I was chatting with Paul Clitheroe Paul Clitheroe(Chairman of The “Australian Government Financial Literacy Board“) yesterday about the emerging industry of Credit Rating Repair in Australia.

    During the meeting we covered a number of topics but the one I want to discuss here is “What The Consumer Should Look For In A Credit Rating Repair Company”.

    As with any industry, there are good operators and then there are those that you wouldn’t want to touch with a barge pole..

    So, what makes a good Credit Rating Repair Company?

    I’ll list the items discussed yesterday, then explain them in a little more depth further down.

    • Transparency (Full disclosure of fees and charges up front)
    • History (Are there any testimonials and can you verify them)
    • Expectations (Published success rates, time frames etc)

    Transparency

    To feel comfortable, you need to know exactly what the service will cost before you spend a single cent.  Are there any Guarantees in place, what about refund policies.  Then, is it all written down?

    History

    Anyone can write a testimonial, but are they willing to put their name on it and have you call them?   If you can’t call the person that’s raving about the Credit Rating Repair Company, how do you know it is a real testimonial and not just made up?

    Expectations

    What are your chances of success, what are the refund policies, how long is it going to take?  These are all questions that you should be able to answer before you speak to anyone.  This information should be published on their website.

    In addition to these 3 items, I believe there are a few others to look at as well..

    • Are they a “One Man Band”?
    • Do they have the resources to do what they say they do?
    • Is it a Registered Company or just a business name? (how to check..)
    • Are they registered with the ATO (Australian Taxation Office) for GST (Making more than $75,000 PA requires registration) (How to check..)

    The main message here is:

    Before you hand over your hard earned cash, make sure you do your homework and know who it is that you are dealing with.

    MyCRA Credit Rating Repair publishes costs, success rates, is fully registered, has the resources and experience, has verifiable testimonials, is registered for GST, publishes time frames and is an established business in Both Australia and New Zealand.  You can speak to MyCRA for FREE and if we don’t think we can help, we won’t charge you a thing.

    If you’d like to speak to a real person about how we can help Fix Your Credit Rating, look at our Contact Us page for your local contact number or phone head office on 07 3124 7133