MyCRA Specialist Credit Repair Lawyers

Tag: credit reporting agencies

  • Case Study – Huseyin had a $87,166 court action set aside

    [fusion_builder_container background_color=”” background_image=”” background_parallax=”none” enable_mobile=”no” parallax_speed=”0.3″ background_repeat=”no-repeat” background_position=”left top” video_url=”” video_aspect_ratio=”16:9″ video_webm=”” video_mp4=”” video_ogv=”” video_preview_image=”” overlay_color=”” video_mute=”yes” video_loop=”yes” fade=”no” border_color=”” border_style=”solid” padding_top=”2″ padding_bottom=”5″ padding_left=”” padding_right=”” hundred_percent=”no” equal_height_columns=”no” hide_on_mobile=”no” menu_anchor=”” class=”” id=”” type=”flex” border_sizes_top=”0px” border_sizes_bottom=”0px” border_sizes_left=”0px” border_sizes_right=”0px”][fusion_builder_row][fusion_builder_column type=”2_3″ layout=”2_3″ last=”false” spacing=”yes” center_content=”no” hide_on_mobile=”no” background_color=”” background_image=”” background_repeat=”no-repeat” background_position=”left top” hover_type=”none” link=”” border_position=”all” border_color=”” border_style=”” padding_top=”” padding_right=”” padding_bottom=”” padding_left=”” margin_top=”” margin_bottom=”” animation_type=”” animation_direction=”” animation_speed=”0.1″ animation_offset=”” class=”” id=”” border_sizes_top=”0px” border_sizes_bottom=”0px” border_sizes_left=”0px” border_sizes_right=”0px” first=”false” spacing_right=”2%” spacing_left=”2%” min_height=””][fusion_imageframe lightbox=”no” lightbox_image=”” style_type=”none” hover_type=”none” bordercolor=”” bordersize=”0px” borderradius=”0″ stylecolor=”” align=”left” link=”” linktarget=”_self” animation_type=”0″ animation_direction=”down” animation_speed=”0.1″ animation_offset=”” hide_on_mobile=”no” class=”” id=””] Mycra Lawyers - Credit Repair Industry Experts[/fusion_imageframe][fusion_separator style_type=”none” top_margin=”20″ bottom_margin=”10″ sep_color=”” border_size=”” icon=”” icon_circle=”” icon_circle_color=”” width=”” alignment=”center” class=”” id=”” /][fusion_text]

    Bad Credit Rating Removal Case Study

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    Client Profile:

    [/fusion_text][fusion_text columns=”” column_min_width=”” column_spacing=”” rule_style=”default” rule_size=”” rule_color=”” content_alignment_medium=”” content_alignment_small=”” content_alignment=”” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” sticky_display=”normal,sticky” class=”” id=”” margin_top=”” margin_right=”” margin_bottom=”” margin_left=”” font_size=”” fusion_font_family_text_font=”” fusion_font_variant_text_font=”” line_height=”” letter_spacing=”” text_color=”” animation_type=”” animation_direction=”left” animation_speed=”0.3″ animation_offset=””]

    Name: Huseyin
    State: WA
    Sex: Male
    Age: 53
    Married/Single: Married
    Listing Type: Court Action
    Original Creditor: Dulux Group Australia
    Current Creditor: –
    Paid / Unpaid: Paid
    Listing Amount: $87,166
    Commenced work: 20/10/2015
    Default Resolution: 05/11/2015
    case study image

    [/fusion_text][/fusion_builder_column][fusion_builder_column type=”1_6″ layout=”1_6″ last=”true” spacing=”yes” center_content=”no” hide_on_mobile=”no” background_color=”” background_image=”” background_repeat=”no-repeat” background_position=”left top” hover_type=”none” link=”” border_position=”all” border_color=”” border_style=”” padding_top=”” padding_right=”” padding_bottom=”” padding_left=”” margin_top=”” margin_bottom=”” animation_type=”” animation_direction=”” animation_speed=”0.1″ animation_offset=”” class=”” id=”” border_sizes_top=”0px” border_sizes_bottom=”0px” border_sizes_left=”0px” border_sizes_right=”0px” first=”false” spacing_left=”2%” min_height=””][fusion_button link=”” text_transform=”” title=”” target=”_self” link_attributes=”” alignment_medium=”” alignment_small=”” alignment=”center” modal=”online_enquiry” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” sticky_display=”normal,sticky” class=”” id=”” color=”default” button_gradient_top_color=”” button_gradient_bottom_color=”” button_gradient_top_color_hover=”” button_gradient_bottom_color_hover=”” accent_color=”” accent_hover_color=”” type=”3d” bevel_color=”” border_width=”” border_radius=”25″ border_color=”” border_hover_color=”” size=”medium” stretch=”default” margin_top=”” margin_right=”” margin_bottom=”” margin_left=”” icon=”” icon_position=”left” icon_divider=”no” animation_type=”” animation_direction=”left” animation_speed=”1″ animation_offset=””]Click HERE Now To Request A Free Call Back[/fusion_button][fusion_modal name=”online_enquiry” title=”MyCRA Lawyers Secure Confidential Contact Request Form” size=”large” background=”” border_color=”” show_footer=”yes” class=”” id=””]Add your details below and one of the friendly MyCRA Lawyers team will call you for a free, no obligation chat about how best we can help you get your clean credit rating and everything that clean credit will mean for you…

     

    [contact-form-7 id=”6642″ title=”Online Enquiry”][/fusion_modal][/fusion_builder_column][/fusion_builder_row][/fusion_builder_container][fusion_builder_container background_color=”” background_image=”” background_parallax=”none” enable_mobile=”no” parallax_speed=”0.3″ background_repeat=”no-repeat” background_position=”left top” video_url=”” video_aspect_ratio=”16:9″ video_webm=”” video_mp4=”” video_ogv=”” video_preview_image=”” overlay_color=”” video_mute=”yes” video_loop=”yes” fade=”no” border_color=”” border_style=”solid” padding_top=”5″ padding_bottom=”20″ padding_left=”” padding_right=”” hundred_percent=”no” equal_height_columns=”no” hide_on_mobile=”no” menu_anchor=”” class=”” id=”” type=”flex” border_sizes_top=”0px” border_sizes_bottom=”0px” border_sizes_left=”0px” border_sizes_right=”0px”][fusion_builder_row][fusion_builder_column type=”1_6″ layout=”1_6″ last=”false” spacing=”yes” center_content=”no” hide_on_mobile=”no” background_color=”” background_image=”” background_repeat=”no-repeat” background_position=”left top” hover_type=”none” link=”” border_position=”all” border_color=”” border_style=”” padding_top=”” padding_right=”” padding_bottom=”” padding_left=”” margin_top=”” margin_bottom=”” animation_type=”” animation_direction=”” animation_speed=”0.1″ animation_offset=”” class=”” id=”” border_sizes_top=”0px” border_sizes_bottom=”0px” border_sizes_left=”0px” border_sizes_right=”0px” first=”true” spacing_right=”2%” min_height=””][fusion_text][/fusion_text][/fusion_builder_column][fusion_builder_column type=”2_3″ layout=”2_3″ last=”false” spacing=”yes” center_content=”no” hide_on_mobile=”no” background_color=”” background_image=”” background_repeat=”no-repeat” background_position=”left top” hover_type=”none” link=”” border_position=”all” border_color=”” border_style=”” padding_top=”” padding_right=”” padding_bottom=”” padding_left=”” margin_top=”” margin_bottom=”” animation_type=”” animation_direction=”” animation_speed=”0.1″ animation_offset=”” class=”” id=”” border_sizes_top=”0px” border_sizes_bottom=”0px” border_sizes_left=”0px” border_sizes_right=”0px” first=”false” spacing_right=”2%” spacing_left=”2%” min_height=””][fusion_text]Credit Repair Background:
    Huseyin is a commercial painter and he had outstanding payments from clients and could not pay creditors. He went bankrupt and was annulled shortly afterwards.

    What were any challenges with the creditor?
    There were no issues with the plaintiff’s solicitors as they responded to our requests in a timely manner.

    Why was the listing removed?
    The plaintiff’s solicitors had agreed to set aside judgment.

    Summary:
    Huseyin’s broker noticed the listings when he applied for credit. Huseyin called our office as he wanted to know how we can help removed the listings. We managed to negotiate removal of his court action listing in 16 days and Huseyin is now one step closer in achieving his home loan. Congratulations Huseyin!

     

    Call MyCRA Lawyers today if you are struggling with bad credit and need a hand getting it removed fast.  Call 1300 667 218[/fusion_text][/fusion_builder_column][fusion_builder_column type=”1_6″ layout=”1_6″ last=”true” spacing=”yes” center_content=”no” hide_on_mobile=”no” background_color=”” background_image=”” background_repeat=”no-repeat” background_position=”left top” hover_type=”none” link=”” border_position=”all” border_color=”” border_style=”” padding_top=”” padding_right=”” padding_bottom=”” padding_left=”” margin_top=”” margin_bottom=”” animation_type=”” animation_direction=”” animation_speed=”0.1″ animation_offset=”” class=”” id=”” border_sizes_top=”0px” border_sizes_bottom=”0px” border_sizes_left=”0px” border_sizes_right=”0px” first=”false” spacing_left=”2%” min_height=””][fusion_separator style_type=”none” top_margin=”100″ bottom_margin=”10″ sep_color=”” border_size=”” icon=”” icon_circle=”” icon_circle_color=”” width=”” alignment=”center” class=”” id=”” /][fusion_button link=”” color=”orange” size=”medium” stretch=”yes” type=”3d” target=”_self” title=”” button_gradient_top_color=”” button_gradient_bottom_color=”” button_gradient_top_color_hover=”” button_gradient_bottom_color_hover=”” accent_color=”” accent_hover_color=”” bevel_color=”” border_width=”” icon=”” icon_position=”left” icon_divider=”no” modal=”online_enquiry” animation_type=”0″ animation_direction=”left” animation_speed=”1″ animation_offset=”” alignment=”” class=”” id=”” border_radius=”25″]If You’ve Had Enough Of Putting Up With Bad Credit, Then Click HERE Right Now To Have A FREE No Obligation Chat That Just Might Change Your Life…[/fusion_button][/fusion_builder_column][/fusion_builder_row][/fusion_builder_container]

  • Case Study – Rikki from QLD had an unpaid $15,427 Esanda default removed

    [fusion_builder_container background_color=”” background_image=”” background_parallax=”none” enable_mobile=”no” parallax_speed=”0.3″ background_repeat=”no-repeat” background_position=”left top” video_url=”” video_aspect_ratio=”16:9″ video_webm=”” video_mp4=”” video_ogv=”” video_preview_image=”” overlay_color=”” video_mute=”yes” video_loop=”yes” fade=”no” border_color=”” border_style=”solid” padding_top=”2″ padding_bottom=”5″ padding_left=”” padding_right=”” hundred_percent=”no” equal_height_columns=”no” hide_on_mobile=”no” menu_anchor=”” class=”” id=”” type=”flex” border_sizes_top=”0px” border_sizes_bottom=”0px” border_sizes_left=”0px” border_sizes_right=”0px”][fusion_builder_row][fusion_builder_column type=”2_3″ layout=”2_3″ last=”false” spacing=”yes” center_content=”no” hide_on_mobile=”no” background_color=”” background_image=”” background_repeat=”no-repeat” background_position=”left top” hover_type=”none” link=”” border_position=”all” border_color=”” border_style=”” padding_top=”” padding_right=”” padding_bottom=”” padding_left=”” margin_top=”” margin_bottom=”” animation_type=”” animation_direction=”” animation_speed=”0.1″ animation_offset=”” class=”” id=”” border_sizes_top=”0px” border_sizes_bottom=”0px” border_sizes_left=”0px” border_sizes_right=”0px” first=”false” spacing_right=”2%” spacing_left=”2%” min_height=””][fusion_imageframe lightbox=”no” lightbox_image=”” style_type=”none” hover_type=”none” bordercolor=”” bordersize=”0px” borderradius=”0″ stylecolor=”” align=”left” link=”” linktarget=”_self” animation_type=”0″ animation_direction=”down” animation_speed=”0.1″ animation_offset=”” hide_on_mobile=”no” class=”” id=””] Mycra Lawyers - Credit Repair Industry Experts[/fusion_imageframe][fusion_separator style_type=”none” top_margin=”20″ bottom_margin=”10″ sep_color=”” border_size=”” icon=”” icon_circle=”” icon_circle_color=”” width=”” alignment=”center” class=”” id=”” /][fusion_text]

    Bad Credit Rating Removal Case Study

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    Client Profile:

    [/fusion_text][fusion_text columns=”” column_min_width=”” column_spacing=”” rule_style=”default” rule_size=”” rule_color=”” content_alignment_medium=”” content_alignment_small=”” content_alignment=”” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” sticky_display=”normal,sticky” class=”” id=”” margin_top=”” margin_right=”” margin_bottom=”” margin_left=”” font_size=”” fusion_font_family_text_font=”” fusion_font_variant_text_font=”” line_height=”” letter_spacing=”” text_color=”” animation_type=”” animation_direction=”left” animation_speed=”0.3″ animation_offset=””]

    Name: Rikki
    State: QLD
    Sex: Male
    Age: 34
    Married/Single: Single
    Listing Type: Default
    Original Creditor: ANZ/Esanda
    Current Creditor: –
    Paid / Unpaid: Unpaid
    Listing Amount: $15,427
    Commenced work: 18/11/2015
    Default Resolution: 18/01/2016
    case study image

    [/fusion_text][/fusion_builder_column][fusion_builder_column type=”1_6″ layout=”1_6″ last=”true” spacing=”yes” center_content=”no” hide_on_mobile=”no” background_color=”” background_image=”” background_repeat=”no-repeat” background_position=”left top” hover_type=”none” link=”” border_position=”all” border_color=”” border_style=”” padding_top=”” padding_right=”” padding_bottom=”” padding_left=”” margin_top=”” margin_bottom=”” animation_type=”” animation_direction=”” animation_speed=”0.1″ animation_offset=”” class=”” id=”” border_sizes_top=”0px” border_sizes_bottom=”0px” border_sizes_left=”0px” border_sizes_right=”0px” first=”false” spacing_left=”2%” min_height=””][fusion_button link=”” text_transform=”” title=”” target=”_self” link_attributes=”” alignment_medium=”” alignment_small=”” alignment=”center” modal=”online_enquiry” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” sticky_display=”normal,sticky” class=”” id=”” color=”default” button_gradient_top_color=”” button_gradient_bottom_color=”” button_gradient_top_color_hover=”” button_gradient_bottom_color_hover=”” accent_color=”” accent_hover_color=”” type=”3d” bevel_color=”” border_width=”” border_radius=”25″ border_color=”” border_hover_color=”” size=”medium” stretch=”default” margin_top=”” margin_right=”” margin_bottom=”” margin_left=”” icon=”” icon_position=”left” icon_divider=”no” animation_type=”” animation_direction=”left” animation_speed=”1″ animation_offset=””]Click HERE Now To Request A Free Call Back[/fusion_button][fusion_modal name=”online_enquiry” title=”MyCRA Lawyers Secure Confidential Contact Request Form” size=”large” background=”” border_color=”” show_footer=”yes” class=”” id=””]Add your details below and one of the friendly MyCRA Lawyers team will call you for a free, no obligation chat about how best we can help you get your clean credit rating and everything that clean credit will mean for you…

     

    [contact-form-7 id=”6642″ title=”Online Enquiry”][/fusion_modal][/fusion_builder_column][/fusion_builder_row][/fusion_builder_container][fusion_builder_container background_color=”” background_image=”” background_parallax=”none” enable_mobile=”no” parallax_speed=”0.3″ background_repeat=”no-repeat” background_position=”left top” video_url=”” video_aspect_ratio=”16:9″ video_webm=”” video_mp4=”” video_ogv=”” video_preview_image=”” overlay_color=”” video_mute=”yes” video_loop=”yes” fade=”no” border_color=”” border_style=”solid” padding_top=”5″ padding_bottom=”20″ padding_left=”” padding_right=”” hundred_percent=”no” equal_height_columns=”no” hide_on_mobile=”no” menu_anchor=”” class=”” id=”” type=”flex” border_sizes_top=”0px” border_sizes_bottom=”0px” border_sizes_left=”0px” border_sizes_right=”0px”][fusion_builder_row][fusion_builder_column type=”1_6″ layout=”1_6″ last=”false” spacing=”yes” center_content=”no” hide_on_mobile=”no” background_color=”” background_image=”” background_repeat=”no-repeat” background_position=”left top” hover_type=”none” link=”” border_position=”all” border_color=”” border_style=”” padding_top=”” padding_right=”” padding_bottom=”” padding_left=”” margin_top=”” margin_bottom=”” animation_type=”” animation_direction=”” animation_speed=”0.1″ animation_offset=”” class=”” id=”” border_sizes_top=”0px” border_sizes_bottom=”0px” border_sizes_left=”0px” border_sizes_right=”0px” first=”true” spacing_right=”2%” min_height=””][fusion_text][/fusion_text][/fusion_builder_column][fusion_builder_column type=”2_3″ layout=”2_3″ last=”false” spacing=”yes” center_content=”no” hide_on_mobile=”no” background_color=”” background_image=”” background_repeat=”no-repeat” background_position=”left top” hover_type=”none” link=”” border_position=”all” border_color=”” border_style=”” padding_top=”” padding_right=”” padding_bottom=”” padding_left=”” margin_top=”” margin_bottom=”” animation_type=”” animation_direction=”” animation_speed=”0.1″ animation_offset=”” class=”” id=”” border_sizes_top=”0px” border_sizes_bottom=”0px” border_sizes_left=”0px” border_sizes_right=”0px” first=”false” spacing_right=”2%” spacing_left=”2%” min_height=””][fusion_text]Credit Repair Background:
    Rikki’s default came from a car loan when he parted ways with his ex-wife. His ex-wife was given everything in their break up and also kept possession of the car which Rikki believed she was making regular payments on.

    What were any challenges with the creditor?
    ANZ/Esanda took 30 days to provide the requested documents to our firm.

    Why was the listing removed?
    We found a legislative error in which the default was placed against Rikki. We confirmed details with Rikki and after our case was brought to ANZ/Esanda’s attention they confirmed that there was an error and removed the default listing.

    Summary:
    Rikki was referred to our office by his mortgage broker. Rikki wanted the default removed from his credit file as he is trying to obtain finance. We managed to negotiate removal of the default listing in 61 days and Rikki can now move forward financially. Congratulations Rikki!

    Call MyCRA Lawyers today if you are struggling with bad credit and need a hand getting it removed fast.  Call 1300 667 218[/fusion_text][/fusion_builder_column][fusion_builder_column type=”1_6″ layout=”1_6″ last=”true” spacing=”yes” center_content=”no” hide_on_mobile=”no” background_color=”” background_image=”” background_repeat=”no-repeat” background_position=”left top” hover_type=”none” link=”” border_position=”all” border_color=”” border_style=”” padding_top=”” padding_right=”” padding_bottom=”” padding_left=”” margin_top=”” margin_bottom=”” animation_type=”” animation_direction=”” animation_speed=”0.1″ animation_offset=”” class=”” id=”” border_sizes_top=”0px” border_sizes_bottom=”0px” border_sizes_left=”0px” border_sizes_right=”0px” first=”false” spacing_left=”2%” min_height=””][fusion_separator style_type=”none” top_margin=”100″ bottom_margin=”10″ sep_color=”” border_size=”” icon=”” icon_circle=”” icon_circle_color=”” width=”” alignment=”center” class=”” id=”” /][fusion_button link=”” color=”orange” size=”medium” stretch=”yes” type=”3d” target=”_self” title=”” button_gradient_top_color=”” button_gradient_bottom_color=”” button_gradient_top_color_hover=”” button_gradient_bottom_color_hover=”” accent_color=”” accent_hover_color=”” bevel_color=”” border_width=”” icon=”” icon_position=”left” icon_divider=”no” modal=”online_enquiry” animation_type=”0″ animation_direction=”left” animation_speed=”1″ animation_offset=”” alignment=”” class=”” id=”” border_radius=”25″]If You’ve Had Enough Of Putting Up With Bad Credit, Then Click HERE Right Now To Have A FREE No Obligation Chat That Just Might Change Your Life…[/fusion_button][/fusion_builder_column][/fusion_builder_row][/fusion_builder_container]

  • Case Study – Daniel From Queensland Unpaid $22,211.00 Westpac Default Removed In Just 4 Days

    [fusion_builder_container background_color=”” background_image=”” background_parallax=”none” enable_mobile=”no” parallax_speed=”0.3″ background_repeat=”no-repeat” background_position=”left top” video_url=”” video_aspect_ratio=”16:9″ video_webm=”” video_mp4=”” video_ogv=”” video_preview_image=”” overlay_color=”” video_mute=”yes” video_loop=”yes” fade=”no” border_color=”” border_style=”solid” padding_top=”2″ padding_bottom=”5″ padding_left=”” padding_right=”” hundred_percent=”no” equal_height_columns=”no” hide_on_mobile=”no” menu_anchor=”” class=”” id=”” type=”flex” border_sizes_top=”0px” border_sizes_bottom=”0px” border_sizes_left=”0px” border_sizes_right=”0px”][fusion_builder_row][fusion_builder_column type=”2_3″ layout=”2_3″ last=”false” spacing=”yes” center_content=”no” hide_on_mobile=”no” background_color=”” background_image=”” background_repeat=”no-repeat” background_position=”left top” hover_type=”none” link=”” border_position=”all” border_color=”” border_style=”” padding_top=”” padding_right=”” padding_bottom=”” padding_left=”” margin_top=”” margin_bottom=”” animation_type=”” animation_direction=”” animation_speed=”0.1″ animation_offset=”” class=”” id=”” border_sizes_top=”0px” border_sizes_bottom=”0px” border_sizes_left=”0px” border_sizes_right=”0px” first=”false” spacing_right=”2%” spacing_left=”2%” min_height=””][fusion_imageframe lightbox=”no” lightbox_image=”” style_type=”none” hover_type=”none” bordercolor=”” bordersize=”0px” borderradius=”0″ stylecolor=”” align=”left” link=”” linktarget=”_self” animation_type=”0″ animation_direction=”down” animation_speed=”0.1″ animation_offset=”” hide_on_mobile=”no” class=”” id=””] Mycra Lawyers - Credit Repair Industry Experts[/fusion_imageframe][fusion_separator style_type=”none” top_margin=”20″ bottom_margin=”10″ sep_color=”” border_size=”” icon=”” icon_circle=”” icon_circle_color=”” width=”” alignment=”center” class=”” id=”” /][fusion_text]

    Bad Credit Rating Removal Case Study

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    Client Profile:

    [/fusion_text][fusion_text columns=”” column_min_width=”” column_spacing=”” rule_style=”default” rule_size=”” rule_color=”” content_alignment_medium=”” content_alignment_small=”” content_alignment=”” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” sticky_display=”normal,sticky” class=”” id=”” margin_top=”” margin_right=”” margin_bottom=”” margin_left=”” font_size=”” fusion_font_family_text_font=”” fusion_font_variant_text_font=”” line_height=”” letter_spacing=”” text_color=”” animation_type=”” animation_direction=”left” animation_speed=”0.3″ animation_offset=””]

    Name: Daniel
    State: QLD
    Sex: Male
    Age: 38
    Married/Single: Married
    Listing Type: Default
    Original Creditor: Westpac
    Current Creditor: Westpac
    Paid / Unpaid: Unpaid
    Listing Amount: $22,211
    Commenced work: 27/11/2015
    Default Resolution: 1/12/2015
    case study image

    [/fusion_text][/fusion_builder_column][fusion_builder_column type=”1_6″ layout=”1_6″ last=”true” spacing=”yes” center_content=”no” hide_on_mobile=”no” background_color=”” background_image=”” background_repeat=”no-repeat” background_position=”left top” hover_type=”none” link=”” border_position=”all” border_color=”” border_style=”” padding_top=”” padding_right=”” padding_bottom=”” padding_left=”” margin_top=”” margin_bottom=”” animation_type=”” animation_direction=”” animation_speed=”0.1″ animation_offset=”” class=”” id=”” border_sizes_top=”0px” border_sizes_bottom=”0px” border_sizes_left=”0px” border_sizes_right=”0px” first=”false” spacing_left=”2%” min_height=””][fusion_button link=”” text_transform=”” title=”” target=”_self” link_attributes=”” alignment_medium=”” alignment_small=”” alignment=”center” modal=”online_enquiry” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” sticky_display=”normal,sticky” class=”” id=”” color=”default” button_gradient_top_color=”” button_gradient_bottom_color=”” button_gradient_top_color_hover=”” button_gradient_bottom_color_hover=”” accent_color=”” accent_hover_color=”” type=”3d” bevel_color=”” border_width=”” border_radius=”25″ border_color=”” border_hover_color=”” size=”medium” stretch=”default” margin_top=”” margin_right=”” margin_bottom=”” margin_left=”” icon=”” icon_position=”left” icon_divider=”no” animation_type=”” animation_direction=”left” animation_speed=”1″ animation_offset=””]Click HERE Now To Request A Free Call Back[/fusion_button][fusion_modal name=”online_enquiry” title=”MyCRA Lawyers Secure Confidential Contact Request Form” size=”large” background=”” border_color=”” show_footer=”yes” class=”” id=””]Add your details below and one of the friendly MyCRA Lawyers team will call you for a free, no obligation chat about how best we can help you get your clean credit rating and everything that clean credit will mean for you…

     

    [contact-form-7 id=”6642″ title=”Online Enquiry”][/fusion_modal][/fusion_builder_column][/fusion_builder_row][/fusion_builder_container][fusion_builder_container background_color=”” background_image=”” background_parallax=”none” enable_mobile=”no” parallax_speed=”0.3″ background_repeat=”no-repeat” background_position=”left top” video_url=”” video_aspect_ratio=”16:9″ video_webm=”” video_mp4=”” video_ogv=”” video_preview_image=”” overlay_color=”” video_mute=”yes” video_loop=”yes” fade=”no” border_color=”” border_style=”solid” padding_top=”5″ padding_bottom=”20″ padding_left=”” padding_right=”” hundred_percent=”no” equal_height_columns=”no” hide_on_mobile=”no” menu_anchor=”” class=”” id=”” type=”flex” border_sizes_top=”0px” border_sizes_bottom=”0px” border_sizes_left=”0px” border_sizes_right=”0px”][fusion_builder_row][fusion_builder_column type=”1_6″ layout=”1_6″ last=”false” spacing=”yes” center_content=”no” hide_on_mobile=”no” background_color=”” background_image=”” background_repeat=”no-repeat” background_position=”left top” hover_type=”none” link=”” border_position=”all” border_color=”” border_style=”” padding_top=”” padding_right=”” padding_bottom=”” padding_left=”” margin_top=”” margin_bottom=”” animation_type=”” animation_direction=”” animation_speed=”0.1″ animation_offset=”” class=”” id=”” border_sizes_top=”0px” border_sizes_bottom=”0px” border_sizes_left=”0px” border_sizes_right=”0px” first=”true” spacing_right=”2%” min_height=””][fusion_text][/fusion_text][/fusion_builder_column][fusion_builder_column type=”2_3″ layout=”2_3″ last=”false” spacing=”yes” center_content=”no” hide_on_mobile=”no” background_color=”” background_image=”” background_repeat=”no-repeat” background_position=”left top” hover_type=”none” link=”” border_position=”all” border_color=”” border_style=”” padding_top=”” padding_right=”” padding_bottom=”” padding_left=”” margin_top=”” margin_bottom=”” animation_type=”” animation_direction=”” animation_speed=”0.1″ animation_offset=”” class=”” id=”” border_sizes_top=”0px” border_sizes_bottom=”0px” border_sizes_left=”0px” border_sizes_right=”0px” first=”false” spacing_right=”2%” spacing_left=”2%” min_height=””][fusion_text]Credit Repair Background:
    Daniel gave Westpac the wrong address when he signed up with them, and Westpac never investigated to confirm that they had the correct address. Daniel stated that he did not do this intentionally, but as this was never originally picked up.

    What were any challenges with the creditor?
    There were no issues with the creditor as we presented our case and  they responded to our requests in a timely manner.

    Why was the listing removed?
    Westpac removed the default as a result of the negotiations and communications between Westpac and MyCRA Lawyers.

    Summary:
    Daniel was referred to our office by his mortgage broker. Daniel wanted his defaults removed as he was knocked back for finance. We managed to negotiate the removals of his listings in just 4 days and Daniel can now move forward financially. Congratulations Daniel!

     

    Call MyCRA Lawyers today if you are struggling with bad credit and need a hand getting it removed fast.  Call 1300 667 218[/fusion_text][/fusion_builder_column][fusion_builder_column type=”1_6″ layout=”1_6″ last=”true” spacing=”yes” center_content=”no” hide_on_mobile=”no” background_color=”” background_image=”” background_repeat=”no-repeat” background_position=”left top” hover_type=”none” link=”” border_position=”all” border_color=”” border_style=”” padding_top=”” padding_right=”” padding_bottom=”” padding_left=”” margin_top=”” margin_bottom=”” animation_type=”” animation_direction=”” animation_speed=”0.1″ animation_offset=”” class=”” id=”” border_sizes_top=”0px” border_sizes_bottom=”0px” border_sizes_left=”0px” border_sizes_right=”0px” first=”false” spacing_left=”2%” min_height=””][fusion_separator style_type=”none” top_margin=”100″ bottom_margin=”10″ sep_color=”” border_size=”” icon=”” icon_circle=”” icon_circle_color=”” width=”” alignment=”center” class=”” id=”” /][fusion_button link=”” color=”orange” size=”medium” stretch=”yes” type=”3d” target=”_self” title=”” button_gradient_top_color=”” button_gradient_bottom_color=”” button_gradient_top_color_hover=”” button_gradient_bottom_color_hover=”” accent_color=”” accent_hover_color=”” bevel_color=”” border_width=”” icon=”” icon_position=”left” icon_divider=”no” modal=”online_enquiry” animation_type=”0″ animation_direction=”left” animation_speed=”1″ animation_offset=”” alignment=”” class=”” id=”” border_radius=”25″]If You’ve Had Enough Of Putting Up With Bad Credit, Then Click HERE Right Now To Have A FREE No Obligation Chat That Just Might Change Your Life…[/fusion_button][/fusion_builder_column][/fusion_builder_row][/fusion_builder_container]

  • How will open credit scores impact Australians?

    access credit scoreCredit reporting agency Veda Advantage has just announced it will allow consumers to receive a copy of their credit score with their credit report. We look at how that will occur, and what possible impact that will have on consumers and also brokers and whether consumers will be better able to manage their credit worthiness using this ‘score’.

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

    It was announced on Monday by Banking Day that Veda has ‘lifted the veil’ on credit scores and will allow consumers to be able to apply to see their credit score. Available to consumers for the first time, the VedaScore is a number between 0 and 1,200 that summarises information on your Veda credit file at a specific point in time. The higher the ‘VedaScore’ the better an individual is considered credit worthy.

    For a fee consumers will be able to access their credit score along with their credit file.

    This is over and above the standard credit report, which is still free from all of Australia’s credit reporting agencies once every year and is sent after 10 working days of application.

    Despite being the credit reporting agency holding the credit files of the largest number of credit active Australians, Veda has in the past remained tight lipped about default numbers and credit statistics in Australia.

    But this week they have offered some insight into credit activity, whilst releasing their ‘VedaScore’ product, by offering up a ‘Veda ScoreCard’ – which reportedly combines consumer research of 1,000 Australians about their finances with analysis of 300,000 VedaScores.

    One of the biggest findings was that more than 2.3 million Australians are at risk of financial strife in the next year, with 27% (628,000) at high risk of credit default from something as simple as an unpaid bill, credit card or loan.

    Veda’s survey also found some interesting facts about credit active Australians. Here are three we found most troubling about the credit active Australians surveyed:

    93% know they have a credit record, but don’t know you can access it

    81% are not concerned about their credit history

    80% have never checked their credit history

    Veda says the national average credit score is 749. But whilst Veda Marketing Manager Belinda Diprose, says in a statement to the media that making the VedaScore available to consumers for the first time “makes it easier for Australians to understand and manage their credit profile” – I am unsure how this will occur – as it hasn’t been announced that there will be a breakdown of that score and how it is calculated. There may be no way for consumers to understand what they can do to prevent their credit score from being reduced.

    Yesterday Business Insider Australia featured an American report on How To Improve Your Credit Score. Whilst the U.S. system has a vastly different credit reporting system – what’s interesting is, the report gives us insight into how the U.S. ‘Fico’ Score is broken down:

    FICO score breakdown

     

     

    Chart from Business Insider Australia’s report.

    A similar breakdown could be useful to consumers looking to improve their credit worthiness or prevent decision making which reduces their credit score.

    How will the VedaScore impact brokers?

    Today we were quoted in The Adviser in a story about the Veda Credit Score.

     Graham Doessel, chief executive officer of MyCRA Credit Rating Repair, said brokers should use the score to select the appropriate loan and lender for their clients, cutting back on rejected loan applications.

    “Being able to see the credit score would be invaluable to brokers,” he told The Adviser. “It will make their job much easier, because they can have an idea very quickly how the client is going to fare with particular lenders.”

    Alex Shumsky from Loan Market Oakleigh also made an important point about credit scoring information in the same story:

    [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”][Credit scoring] can be valuable provided the credit scoring is in line with that of the banks.

    “You can submit one loan to one bank and fail on credit scoring then submit it to another bank and it gets approved, same deal, same info but they’ll score it differently,” he said.

    It will still be up to brokers to match the right product to the right client – so whilst the VedaScore will be valuable in many cases, different banks will have different priorities and different scoring systems.

    We also see it could bring new clients to brokers – those who have obtained their credit score but don’t know how to interpret it, or what the relevance of that score will be with each lender.

    Brokers will still be quite necessary in terms of helping borrowers ‘test’ how their score rates against a range of available credit. What we don’t want to see in the future, are a great volume of borrowers ‘going it alone’ using their credit score, and then falling into the trap of worsening their credit score by generating excess credit enquiries.

    So whilst revealing the score is great, we hope consumer education goes hand in hand with this product release.

    For more information on your credit file, visit our main website www.mycra.com.au. 

    Image: phanlop88/ www.FreeDigitalPhotos.net

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  • ‘TAX REFUND NOTIFICATION’ Don’t get caught out with this scam at tax time.

    tax refund notificationA high priority alert has just been issued from Stay Smart Online in regards to malware-carrying emails supposedly from the Australian Taxation Office, which could send your credit file into the doghouse. Most people who regularly read this blog will probably be well aware of the high prevalence of scam emails designed to capture your financial details either directly or through malware. They would also be well aware of the dangers that can pose for your ability to obtain credit in your own right if fraudsters steal your identity and pose as you to take out credit in your name. But we feel it is important to remain vigilant in warning the community when such emails are on the increase. They could just catch out someone you know. So we look at the details on this email and its variants, and what dangers it poses for the financial information of ordinary Australians.

     

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

    Today Stay Smart Online (the government’s online safety website) issued a warning about cyber criminals taking advantage of the upcoming tax deadline for filing tax returns by launching thousands of scam emails. The emails are purporting to be from the ATO, but contain malware which can steal your personal information.

    Security firm Bitdefender reported the detection of three email spam campaigns in late July and early August that saw up to 10,000 spam emails sent on 6 August. This surpassed the 3,000 messages sent on 23 July and the 5,000 messages sent on 15 July.

    “This sort of malicious outbreak is expected to continue heavier and more targeted as the tax time approaches its deadline in October,” a Bitdefender advisory warned. “Attackers hope their targets are too concerned with their financial duties to double check the sender’s address and discover the con.”

    If your system is infected by the malware in these messages, private data such as passwords and logins for financial institutions can be stolen and distributed to cyber criminals who will exploit it for financial gain.

    If your computer becomes infected, not only can personal information be stolen, but malware may force the computer to join a global ‘botnet’ that uses thousands of slave computers to distribute further malware-laden emails—or it might take part in distributed denial of service (DDoS) attacks. Among other things, this can seriously reduce the effective speed of a home Internet connection.

    What the emails look like…

    Most common spam emails

    ‘Australian Taxation Office – Refund Notification’, with body text including ‘TAX REFUND NOTIFICATION’. It instructs you to open an attachment called ‘ATO_TAX_pokeefe.zip’ or similar. The attachment is typically malware.

    ‘New information regarding lodgement’ and suggests that the ATO has been attempting to refund a payment to “the credit card we have on file.” Recipients are advised to log into an ‘e-portal’ to receive the refund manually, and that “during the payment process you will be given the opportunity to update the credit card that is on record.”

    Important Information…

    The ATO will never ask for such information via email. Any email that requests additional information before a refund can be released is a hoax.

    If you receive a message like this, do not under any circumstances open the attachment. Delete the message immediately. Never open attachments that arrive with these sorts of messages.

     

    Identity theft and your credit file

    Identity theft can lead to fraud, and can affect your credit file. It often goes undetected until the victim applies for credit and is refused.

    Any kind of credit account (from mortgages and credit cards through to mobile phone accounts) which remains unpaid past 60 days can be listed as a default by creditors on the victim’s credit rating, and those defaults remain there for 5 years.

    The consequence of people having a black mark on their credit rating is generally an inability to obtain credit.  Most of the major banks refuse credit to people who have defaults, or even too many credit enquiries, so it is really essential to keep a clean credit record.

    If you think your identity has been stolen, or that your personal information has been compromised there are three things you should do to protect your credit file:

    1. Contact Police immediately

    2. Contact the credit reporting agencies which hold your credit file.

    3. Contact your Credit Providers – especially financial institutions.

    If you think your tax file number has been stolen, you can visit the ATO’s Client Identity Support Centre for more help. They also give comprehensive advice on what to do in different situations of theft of your personal information.

    By law in Australia, if a listing contains inconsistencies the credit file holder has the right to negotiate their amendment or removal.

    But to clear their good name, the identity theft victim needs to prove to creditors they did not initiate the credit – which can be difficult. Not only are victims generally required to produce police reports, but large amounts of documentary evidence to substantiate to creditors the case of identity theft.

    Contact www.mycra.com.au for more details on credit repair following identity theft.

    Image: Stuart Miles/ www.FreeDigitalPhotos.net

  • Use a budget to take advantage of low interest rates

    budgetIf you didn’t already know, interest rates are now at their all-time lowest at a reserve rate of 2.75 per cent. And banks have begun to lower their interest rates – which is good news for borrowers. In this week’s Make Credit Work For You post, we look at how can you best benefit from those cuts by saving.

    You might be saving for a home, or you might be saving in your home – but we show you how to budget. If you’re saving for a home loan, now seems like a great time to purchase – with interest rates at their all-time lowest. If you haven’t quite made it there with your deposit, we look at how a strict budget now might get you there quicker. If you own your own home, take advantage of these low interest rates by paying down your mortgage as fast as possible. This can give you space to re-borrow, to invest or to renovate in the future.

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

    When interest rates are low, you can borrow or if you have current debt, you can pay your debt down in less time. We show you how you can do that, with tips from Savingsguide.com.au. Their article ‘A Guide On How To Budget To Save Money’ caught my eye this week. With new credit laws coming, and new information about you becoming available to lenders very soon, I believe it’s time to help Australians develop some really good credit habits, and to have their credit reports reflecting that.

    Nothing helps with credit habits better than a budget does. As soon as you start with a budget, it forces you to take stock of what you have, and become aware of your spending and credit habits. Australians in that frame of mind are more prepared for next year’s changes to Privacy Laws. And prepared they do need to be. Borrowers will be under the microscope. And they need to be on top of their game when it comes to their finances to not be disadvantaged by credit reporting changes. Let’s look at an excerpt from Savingsguide’s article on how to create a budget:

    How to create a budget

    To make a budget, you must consider the following:

    Income

    Decide whether your budget is going to be weekly, fortnightly. I would usually choose whichever budget aligns with the regularity of when you get paid. Once you’ve decided, write down all the income you receive in that month.

    Expenses

    Write down everything you spend in a week. Chances are you won;t get it right on the first stab, as we spend unconsciously. Here are some ways to track what you’re spending for your budget:

    Keep a spending diary. Keep all your receipts, and tally them at the end of the week.

    Go through your daily bank account, to check for debits from your account (insurance, membership fees et) that you might not even have be aware of.

    Use a tracking app, such as Expense Manager or Expenditure.

    Are you in the red? Or in the black?

    Tally up your figures, and you’ll have an initial idea of whether you are running your finances in the red or the black. If you’re in the black, fantastic! You now can just add some extra space in your finances. If you’re in the red, a budget will help you to get back on track. Why not colour code using red and black to help you?

    Analyse where your money is going & where your budget is leaking

    Where is the money heading? What area of your life is draining your finances the most? Chances are, if your budgets look anything like mine, entertainment costs are always shocking. The amount I spend unconsciously on food, shows and late night tipples are, without a doubt, the major unnecessary drain on my income.

    What are your essential costs, and how much do you have left over once they’re paid for?

    Trim the fat from your budget

    Now look for where you can cut back. Discretionary spending is a major source of savings in a budget. Aim to reduce your spending, not cut it out entirely. Great budgets are consistently refined and improved, so start relatively gently. How much do you need to save to get into within your income? Where can that come from easily, and sustainably?

    Consider these points:

    Housing costs should only comprise 30% or less of your net income. If it’s costing more than that, perhaps it’s time to make some big decisions about where or how you live.

    The average Australian household spends the same amount on alcohol as they do in utilities per week. If that’s the case, there is a major saving opportunity there.

    We should always consider what we have (in the pantry, in the house to sell) when writing out budgets. We should aim to declutter our life to add extra money to our budget. Sell the stuff you don’t need people! Draft budget

    You now have a draft budget. I would call it a draft, as it is a work in progress, one that needs continual revision and maintenance. You should have allocated a general sum to each section of your life, including a sustainable and sensible amount you will be saving per week.

    Tips to help you succeed with your budget

    For the best results when budgeting, you should consider these three core principles:

    Automate your money. As soon as your pay comes in, automatically move your money into the sections you have decreed for your budget. This means money gets automatically deposited for rent, debt repayments, savings etc. We can be our own worst enemy, so take yourself out of the equation.

    Discretionary cash. For your entertainment budget throughout the week, I like to have it in cash. The reason? Because once it’s gone, I know I’ll just have to stay in and watch TV until next week.

    Keep it simple. It’s essential to not start out too strictly with a budget, it’s often where people fall down (more on this below). Remember, you can always save any money that’s left over and you can always change the amount you’re budgeting throughout the week.

    Maintaining your budget

    Once you have a budget, you will find yourself needing to occasionally maintain it and update it as you go. Track your budget progress

    The absolute best way of maintaining enthusiasm and drive is to watch how your finances have improved. Look at your dwindling debt, or increasing emergency fund. You’ll feel empowered and capable of continuing all the good work. Use a budget program

    Apps such as iReconcile or Moneybook can be a great way to easily manage you budget if you’re technically minded. Alternatively there is the Savings Guide made budget planner for purchase here.

    Constantly revise your budget

    I can’t stress this enough. Budgets are ongoing processes- sometimes they’re too harsh, sometimes they’re too soft. Could you save more? Are you living at an absolute pinch, and eating only two minute noodles? Extremes are never good, and great personal finance is about sustainable saving.

    Keep your budget goal orientated

    It’s easy to lose motivation, and everybody does. The key is to continue to look at your goals, adapt your goals and celebrate how much closer you are to achieving them.

    Fixing your budget

    Got a problem with your budget? Here are some solutions to common budgeting woes.

    Losing motivation: Your budget fit isn’t right. Either your budget is too tight, and you’re unhappy or it’s too loose and you’re not seeing the changes you need. Use some trial and error to work out what fit works for you. You can change your budget figures from week to week, until you get it right. The important thing is it’s both comfortable and effective.

    Broke the budget: It happens to everyone. Don’t give up on the whole thing because of one bad week. It’s a slip up, not game over, so just move on.

    Forgotten expenses: A major expense can easily be forgotten, and can easily undermine a lot of hard work when it it is. Don’t panic, this is why we budget, to ensure that unexpected expense is covered. Note the expense in your revised budget, and you can be sure you won’t have to worry about it again.

    You get a pay raise: Add it into your budget, but aim to invest the raise in your savings or debt repayment. You’ll be amazed at how quickly your finances improve, and how budgets can enable you to live within your means.

    If you have tidied your budget up, and managing to make headway with savings, it is a good time to take stock of what your credit file says about you. Before you apply for a home loan, check that your credit report is accurate and up to date. Each year you are entitled to a free annual credit report – and if you haven’t ordered one this year, you should.

    You can request a free credit report through Australia’s credit reporting agencies such as Veda Advantage, Dun & Bradstreet or Tasmanian Collection Services. You may need to contact all of these agencies. A report will be mailed to you within 10 working days. If it’s urgent you can request one quicker for a fee.

    Check that everything reads correctly. If there’s anything you’re not sure about – particularly credit listings which might hold you back from obtaining credit, address them with your Credit Provider before you apply for credit.

    To get help to make a case to dispute your credit listing, you can contact a credit repairer. Click here for more advice on this.

    Image: patpitchaya/ www.FreeDigitalPhotos.net

  • Are you lying to yourself when it comes to credit?

    money liesIn this week’s ‘Make Credit Work For You’ post, we look at the lies we tell ourselves which see us taking on too much credit, or see us run into trouble with our credit file. Those lies can end up leaving us unable to pay, and blacklisted from credit for years to come. What should you be honest with yourself about when it comes to borrowing money? This post is inspired by David Koch’s recent article ‘Money lies you need to stop telling yourself’ featured on news.com.au. 

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

    According to Kochie, telling yourself financial lies is pointless. He says it’s time to toughen up and stop the lies, as these can cost us big time in the future.

    So, what things can we lie to ourselves about, that could cost us our good credit rating down the track?

    * As long as my job pays well, it’s OK if I hate it.

    Kochie says staying in a job that you hate, even if it pays well, means you don’t have your heart in it, there will be no commitment, no passion and your boss will eventually latch on.

    “Inevitably, you’ll be the first one to go in any redundancies and the one overlooked for any promotions,” he says.

    So before you apply for credit, especially major credit like a home loan – it’s important to understand the long term commitment, and consider whether the career you’re in is going to fulfil you for at least several years to come. In the early years of a loan, your repayments will be at their highest and it will be essential to put your head down and pay off as much as possible.

    Kochie says success comes easiest to those who love their job. So if you don’t – it might make sense to spend some time getting settled in a job you do love, before you apply for major credit.

    However, if you are unhappy in your job and are currently paying off a mortgage or other significant loan – it’s important you are really smart about how you change careers. Consider your loan first and foremost before you make any drastic career changes. You don’t want to be caught out unemployed and unable to pay your loan.

    * If I turn a blind eye, somehow my finances will work themselves out

    Burying your head in the sand is never a solution to your financial issues. They only snowball.  At this point in time in Australia, paying bills even one day late may directly impact your credit file, through licensed Creditors recording your repayment history information. Paying them later than 60 days will see you defaulted.

    The government has made changes to credit laws in order to assist consumers in financial difficulty, but you need to put your hand up and own your financial problems, and you need to have a plan.

    To begin with, stop lying to yourself about how much money you actually have. To get any help, or to help yourself, you first need to know exactly how much you have left at the end of the week – or even how much you are in the red.

    If you know you can’t make your credit repayments, work out how much you can pay from what you have, and give this information to your Creditors to negotiate a financial hardship plan which may see your repayments reduced for a period of time. For more information on financial hardship variations, visit ASIC’s MoneySmart website.

    If you are not in dire straits yet, don’t wait till you’re there to do something about it. Kochie recommends starting with a plan that involves either cutting back expenses or earning extra income to balance the books. Make a goal, make a plan and get yourself there.

    * I should buy a home because that’s what grown-ups do

    Despite the ethos that everyone in Australia has the right to own their own home, buying a home is not right for everyone. Kochie argues that for some, renting and investing your savings can be a better financial option.

    For others, they may see more results being able to buy a home and focus on paying down the mortgage (creating equity) as their investment strategy.

    And some people just won’t be able to meet the big financial commitment that a home loan entails, even if they want to, and even if on paper, they look like they could. If this is you, consider that for now, you may be better off learning more about how to make credit work for you, to gain more money skills and adopt a different attitude towards money and credit before you take the plunge.

    * If I dip into my savings now I can always make up for it later

    Kochie advises it’s way more productive to leave your savings untouched and earn extra to pay for the item or experience. If you are saving for a home or business loan, then more savings means cheaper credit.

    * If I get approved for a loan or credit limit increase, I can afford it

    Kochie says this is probably the most dangerous of all lies. “Forget what the bank is offering in terms of increased credit card limits or loan amounts, only you really know what you can afford,” he says.

    Remember, the bank doesn’t have to pay your loan back – you do.

     

    Some other lies you can tell yourself about credit which you shouldn’t:

    * No news is good news when it comes to bills.

    No its not! If you think you should have received a bill and haven’t, the best thing you can do is chase it up. Nine times out of ten your Creditor thinks you should have received it, and you accrue days in arrears, meaning they may default you anyway whether you received the bill or not. This is especially important if you change addresses.

    *If I love someone, money doesn’t matter.

    Money still matters and when it comes to credit accounts, love may be blind but your Creditors are not. You need to keep your head in money matters when love is good and when love goes bad. Sometimes joint credit accounts can land you in hot water. Cover yourself and your credit file against the worst.

    * Someone else will tell me if my credit file is not accurate.

    No they won’t, it’s up to you to be proactive. There is an avenue for complaint if you think your credit file is inaccurate, but the responsibility for finding out whether everything is correct rests which the individual credit file holder. So it is really important that you do an annual credit check (which is free) through Australia’s credit reporting agencies. Don’t leave it until you’re applying for a home loan to find out you have defaults or other credit listings you don’t think should be there.

    To find out more about credit file accuracy, visit our main site www.mycra.com.au or call a Credit Repair Advisor tollfree on 1300 667 218.

    Image: Teerapun/ www.FreeDigitalPhotos.net

  • Credit enquiry scandal shows up faults with credit scoring

    credit enquiriesPress Release

    Credit enquiry scandal shows up faults with credit scoring

    20 March 2013

    Millions of Australians could potentially be unfairly rated during the credit reporting process with little to no education on how their score is arrived at, nor any chance to redeem a bad credit score, a consumer advocate for accurate credit reporting reveals.

    CEO of MyCRA Credit Rating Repair says a recent scandal over consumers being blacklisted from taking out credit because of too many credit applications – often which they have little control over, reveals a gaping hole where legislation is yet to meet current practice.

    “Before we allow consumers to get a ‘scoring’ based on their assessed potential for risk then we need to make sure the information we are using to calculate that score is both fair and accurate, and in some instances under the current system it is neither,” Mr Doessel says.

    These comments come after it was revealed on Channel 7’s Today Tonight on Monday that 5-6 million Australians are in the ‘credit dog-house’ simply because they have applied for finance.[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]

    The report revealed that excess credit enquiries are having a major effect on borrowers, and most don’t even realise they have credit enquiries on their credit report until it’s too late.

    Mr Doessel says credit enquiries are not always due to being refused an official credit application.

    “Sometimes banks can perform enquiries periodically on lines of credit, and another big issue is system generated enquiries through consumers investigating different credit products online,” he says.

    He says whilst in most cases borrowers have technically given permission to perform the enquiry, there is little education on the ramifications of making one.

    “Information on credit applications made stays on a person’s credit file for 5 years. But how many credit enquiries is too many, and over what period of time?” he says.

    The Today Tonight report absolves credit reporting agencies such as Veda Advantage, saying they simply hold the records.

    “It’s the current legislation that only allows negative information to appear on our credit records and loan applications are listed as negative,” Veda Advantage’s Belinda Diprose advises.

    But Mr Doessel says scoring systems such as the Veda Credit Score is far from just reporting.

    “Issuing a credit score goes further, calculating risk based on certain types of behaviours around credit and allocating a score accordingly which is used by lenders to assess whether the potential borrower is a good or bad credit risk. That’s more than reporting, that’s opinion, that’s making predictions,” he says.

    Mr Doessel argues that credit scoring should not have been introduced prior to implementation of the Privacy Amendment (Enhancing Privacy Protection) Act 2012 in March 2014, which allows for more comprehensive data on Australian credit files.[ii]

    “This new form of credit assessment should not have been introduced until comprehensive credit data was available to lenders, not just negative data. To be fair to consumers, an educated ‘opinion’ on credit-worthiness needs to be formed based on many more factors than what is currently available on Australian credit reports,” he says.

    In the meantime, he is calling for education to give consumers clear guidelines as to what constitutes a low credit score.

    “Consumers need to know how this score is calculated, what sort of information will be taken into consideration when they are given a credit score, and what they can do to prevent a score being so low they are refused credit, both in the current market and when comprehensive credit reporting comes into effect next year,” Mr Doessel says.

    Credit active Australians can check their credit file at no cost every 12 months to make sure they are not blacklisted unnecessarily. Go to http://bit.ly/My-Free-Credit-File for more information. If a credit enquiry was not authorised or was incorrectly listed, then they may have a case for requesting its removal.

    /ENDS.

    Please contact:

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

    Ph 07 3124 7133 www.mycra.com.au www.mycra.com.au/blog

    MyCRA Credit Repair 246 Stafford Rd, STAFFORD Qld

    MyCRA is Australia’s number one in credit rating repairs. We permanently remove defaults from credit files. CEO of MyCRA Graham Doessel is a frequent consumer spokesperson for credit reporting issues and is a founding member of the Credit Repair Industry Association of Australasia.

     

    ——————————————————————————–

    [i] http://au.news.yahoo.com/today-tonight/money/article/-/16389927/ruined-credit-ratings/

    [ii] http://www.oaic.gov.au/privacy-portal/resources_privacy/Privacy_law_reform.html

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

  • Bad credit affects refinancing market too

    Refinancing numbers are at a record high. But any home owner looking to refinance needs to consider they could have surprise bad credit history. Before you apply for a new loan, it is important to check your credit history prior to making any finance application, even if you think your repayment history is impeccable.

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

    Australian Broker reported Tuesday on figures coming through from AFG showing figures for refinancing have gone through the roof in the past 12 months, with two in five loans now refinancing:

    Refinancing outweighed all other loans on AFG’s Mortgage Index at 39.1 per cent for June.

    Mark Hewitt, general manager of sales and operations at AFG attributed the growth to a more competitive market.

    “Refinancing is very strong as borrowers take advantage of a more competitive market to secure a better deal,” he said.
    AFG also said fixed rate loans fell to 16.5 per cent – a significant decrease from March’s peak of 25.4 per cent.

    “It’s significant that, as we begin a new financial year, the vast majority of borrowers are opting not to lock in an interest rate. Most see a period of stable or even softer rates for the foreseeable future.”

    Before refinancing

    Prior to making a re-financing application, you should order of free copy of your credit report – in case your credit history contains inconsistencies you aren’t aware of. For some home owners, it can be years since you applied for major credit, who knows what information is present on your credit file?

    Under current credit reporting legislation, you are entitled to obtain a free copy of your credit report from the credit reporting agencies once a year. A person requesting their own credit report does not generate a ‘credit enquiry’ on their credit file so it is important to do this prior to putting in the application. If a credit enquiry from a lender finds a default against your name, warranted or not, you will be refused finance. That lender’s ‘enquiry’ now shows up on the credit file for 5 years along with the default, creating two negative entries instead of one.

    You need to contact all the credit reporting agencies to request your credit report – as creditors have access to 2 main agencies within mainland Australia and 3 if in Tasmania. The report will be sent to you within 10 days of the request.

    Regardless of whether you have been diligent with paying bills, creditors can and do sometimes make mistakes with credit files, which can leave you with black marks against your name that just shouldn’t be there.

    Sometimes you may not know your good name is compromised until you apply for finance or in this case re-finance and are refused.

    What is bad credit?

    A bad credit rating can result often due to unpaid accounts. When a bill or repayment goes unpaid past 60 days, it is listed as a default or a ‘clear-out’ on your credit file. In the current finance market, any black mark generally results in an automatic decline with the major lenders, as does too many credit enquiries.

    So how many credit files contain errors? The volume of credit file errors on Australian credit files is uncertain.

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

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

    And the real numbers? They may be somewhere in between.

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

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

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

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

    Contact MyCRA for help with getting a free copy of your credit file, or for help with credit repair on 1300 667 218 or our main site: www.mycra.com.au.

    Image: Michal Marcol/ www.FreeDigitalPhotos.net

    Image: Stuart Miles/ www.FreeDigitalPhotos.net

  • How You Can Give Yourself the Best Chance of Being Approved For Your First Home

    A great deposit and a great income is not enough to ensure you get the home loan that’s right for you. We show you how your credit rating can have just as much impact as your savings record and show you the steps you can take to ensure your credit file accurately reflects your ability to repay a home loan.

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

    There is more to applying for finance than wages and savings records. One of the key factors to home loan approval is your credit report.

    What is a credit report?

    A credit report is a report on your credit file status (or credit rating), held by one or more of Australia’s credit reporting agencies.  Your credit file is checked by the lender when you apply for a home loan. It contains all of your personally identifiable information as well as your repayment history, and is used to assess both the amount you are able to borrow and your ability to repay the loan.

    Anyone who 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 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 16 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 many people do not realise, is how easy it is to have a default slapped on their credit file.  If you fall into arrears on your account for more than 60 days (including rates, power and mobile phones) then the credit provider has the right to notify you of their intention to record this default against you on your credit file. Even if this bill is later paid, this ‘paid’ default still remains on your record for 5 years.

    Will I always know I have bad credit?

    NO! This is one of the key things we want all home buyers to know. Mistakes can and do happen, and it may not be until you are sitting in front of the bank getting rejected for a home loan that you find out you have bad credit history.

    There are a great number of credit files which contain errors or listings on credit files which shouldn’t be there, so even if you think you have never paid a bill late, you may still have a bad credit rating. It is always worth taking the time to find out before you apply for a home loan.

    I have found defaults on my credit rating, what are the consequences of this?

    If you discover you have an adverse listing or ‘bad credit rating’, you will find it very difficult to find a home loan with a mainstream lender. Generally this problem will keep occurring for the 5 years the default is on your credit file. If you decide to enter a non-conforming loan, you may be up for tens of thousands more in interest repayments just over the first three years of the loan.

    What can I do to fix my bad 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 a credit repairer work to repair my credit rating?

    In many cases where people have attempted to dispute or 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 most lenders.

    If you have a default, writ or Judgment 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.

    The credit repairer 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.

    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 home 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 and repay the account on time, every time.

    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. Soon overdue accounts that are as little as one day late will be recorded on your credit file as ‘overdue payments’ and will stay there for 2 years, so it is important to repay on time, every time to avoid bad credit.

    2. Regularly obtain a copy of your credit file – once a year is recommended and this is free in Australia annually.

    3. 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. A lower credit limit is also better when lenders are assessing your ability to repay a loan.

    5. Be aware of excessive credit enquiries. If you are not sure about your credit health, get it checked before applying for new credit so as not to rack up unnecessary credit enquiries. You do not record a credit enquiry when you enquire about your own credit file. Also, ensure you do not apply for credit all over town – and beware of filling any forms out online.  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.Too many 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.

    For help repairing your bad credit, contact MyCRA Credit Rating Repairs today 1300 667 218 or see more information here:

     

    Image: annakml/ www.FreeDigitalPhotos.net

  • MyCRA clients tell their stories: Telco mistakes threatening home ownership

    Two of our credit repair clients share their stories on how their good credit rating suffered at the hands of Telco mix-ups. Their stories demonstrate how bill and service disputes can be difficult for customers to resolve, and can ultimately lead to a bad credit rating.

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

    DANIEL

    A NSW client, Daniel and his young family were shocked when they applied for a home loan last year to find they were refused due to a whopping $8,000 debt and five years of bad credit when a botched phone plan with Telstra in 2006 came back to haunt them.

    Daniel was told by the lender there was no way he would be given a home loan with a black mark against his name – a mark Daniel says was a huge mistake.

    “I was on a 10MB plan initially, but wanted to start using the internet from my phone. I contacted Telstra to get upgraded to 1GB, which the operator agreed to. It wasn’t until I got the bill for $4,000 that I saw the operator hadn’t changed the data allowance and I was still on 10MB,” he explains.

    Daniel says he spent more than 3 months in contact with Telstra attempting to resolve the problem, and was passed on from one person to another.

    “All the operators said they didn’t have the authority to remove this bill or change it. No one was willing to help they all just kept passing me around operators which lead to hours on end being caught up on the phone without getting answers,” he says.

    “After a few months they disconnected my phone, but I had no idea they had referred the debt to a collection agency, and banned me from credit for 5 years.”

    Thousands of Telco customers are living with negative listings on their credit file that just shouldn’t be there, and this should serve as a warning to all credit active individuals to check the accuracy of their own credit rating.

    Consumers need to know that mistakes do happen for a variety of reasons, and often it is not until people apply for credit in a separate instance that they find out – by then it is too late.

    An annual report released November last year by the Telecommunications Industry Ombudsman (TIO) reporting on the number and nature of consumer complaints in the 2010-11 year, revealed a staggering 18 per cent increase in complaints from the previous year.

    The TIO report attributes the rise in complaints to them to mobile phone service faults and increased smart phones use.

    “The record number of complaints made to the TIO is disappointing. Customers who have complained to us have been frustrated not only by mobile telephone problems, but also by deficient customer service and complaint handling,” Ombudsman Simon Cohen said.

    Daniel says trying to get the mistake fixed up and rebuild his credit file himself, was problematic.

    “I tried to clear it with Baycorp, they told me if I paid the debt they would reduce it to $6,000 – which I did. Unfortunately that didn’t clear my credit file, it was only marked as ‘paid’ and was no use to me getting a home loan,” he says.

    Many people have trouble resolving errors themselves, because they aren’t familiar with the legislation and find it difficult to negotiate with creditors.

    Customers can often be given the run-around by creditors, and can find it difficult to apply the letter of the law to their own circumstances when they have no knowledge of what the rules are. Sometimes that can do their case more harm than good.

    Daniel’s case has since been resolved, and MyCRA Credit Repairs have been successful in recovering the $6,000 he paid out to Baycorp.

    “We’re relieved to be finally getting a home, but the whole thing has left us very disappointed in big corporations – you really don’t get looked after,” he says.

    BRENT

    Another client, Brent from Western Australia had a contract with provider, ‘3’ in 2009 that went badly.

    About 3 months into his phone contract, Brent experienced numerous problems with his phone, sending it to be repaired 3 times before requesting a replacement. He posted the phone back to Sydney and received a new phone.

    A month later Brent’s phone was barred, and he received a phone call from 3 stating that he owed $1200 for the phone which 3 said was never returned.

    Brent spent a few months dealing with 3 trying to track down the phone in their warehouse and the postal system, before they eventually located it.

    It wasn’t until he applied for a loan and was turned away that he found out 3 had placed a default on his credit file anyway, despite an agreement to put a note on the account so that the outstanding amount for the missing phone did not get referred to a debt collector.

    MyCRA Credit Repairs fought for Brent to have the default removed from his credit file.

    It is so important for people to cover themselves when resolving bill and service disputes with Telcos or any creditor for that matter.

    People should never assume mistakes are rectified until they have confirmation in writing from the company. If you have a problem with a bill or service, take extensive notes and names and request confirmation of all decisions and outcomes in writing.

    If people are worried about what may have been reported about them on their credit report, they are entitled to obtain a copy of their credit file for free from the credit reporting agencies in Australia once every 12 months.

    The report is mailed to the credit file holder within 10 working days. If consumers find errors, or listings which they believe are inaccurate or unjust they have the right to have them removed.

    For help with rebuilding a credit history and repairing your bad credit rating contact MyCRA Credit Repairs tollfree on 1300 667 218 or visit the main website, www.mycra.com.au.

    Image: Stuart Miles / FreeDigitalPhotos.net

     

     

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

    * Veda Advantage 2009

    * MyCRA Cannot remove bankruptcies from credit files

    Image: graur razvan ionut/ FreeDigitalPhotos.net

  • Telstra’s at it again. And this time it may affect YOU.

    Your credit file could be affected by errors in the telecommunications industry…here is a media release we sent out last month about a significant data breach which occured with Telstra’s customer files. We are eager to see what the Privacy Commissioner’s findings will be on this incident.

    Media Release

    12 December 2011

    A massive data breach of Telstra’s customer database has potentially put around 800,000 of its customers at grave risk of having their passwords stolen and their personal information pilfered by identity thieves.

    The data breach which occurred last Friday, saw detailed personal information which was supposed to be available to Telstra customer service agents only, exposed and openly accessible on the internet.

    The Sydney Morning Herald reported on Friday a user of the Whirlpool forum stumbled upon the “Telstra bundles request search” page after doing a Google search for a Telstra customer support phone number they were told to contact.[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]

    SMH reported the information of any Telstra customer was searchable even by last name, bringing up the customer’s account number, what broadband plan they were on, what other Telstra services they were signed up to and notes associated with the customers’ accounts including in many cases their usernames and passwords.

    There were also other details about technician visits, SMS messages sent to private mobile numbers and credit check details.

    Telstra has reportedly reset approximately 60,000 customer passwords as a precaution.[ii]

    Telstra bundle customer, Graham Doessel is one of those potentially at risk.

    He also happens to be the CEO of a company dealing in credit repair for people who have been unlawfully blacklisted from borrowing facilities. He says as much as 50% of his clientele who present with credit file errors and inconsistencies are Telco customers, and many of those are Telstra customers.

    “This data breach is a crucial example of how errors occur so easily in the Telco industry. Unfortunately they have the potential to severely damage someone’s financial future.”

    “Every day we deal with customers who can’t get a home loan, because their credit rating is damaged by improper execution of policies and procedures in the Telco industry,” Mr Doessel, of MyCRA Credit Repairs says.

    Mr Doessel is concerned he is amongst those Telstra customers whose personally identifiable information may have been viewed, and copied for purposes of fraud during the time the information was readily available on the internet.

    “The issue is about both our possible stolen passwords, and our possible stolen personal details – a huge commodity for fraudsters. What’s to say fraudsters haven’t jumped on the internet while this information has been available and copied it?”

    “Personal details are the building blocks for constructing a fake identity. Once someone has fake ID documents, they can take out significant amounts of credit in the victim’s name. Often people don’t find out about it straight away and that can result in defaults from creditors and massive long term credit issues,” he says.

    Mr Doessel recommends anyone who feels they may be at risk by this data breach take a few precautionary steps to ensure their credit file is protected:

    1. Change passwords. Even if Telstra hasn’t advised you otherwise, go in and change your password. If you have that same password for unrelated accounts, change that as well.

    2. Contact creditors and advise them you may be at risk of identity theft. This will allow them to ‘flag’ your accounts and halt any suspicious activity.

    3. Check your credit file. Obtain a free copy of your credit file and check there is nothing suspicious already present on your credit file.

    4. Alert credit reporting agencies. They can put an alert on your credit file which informs you of any changes to contact details, or suspicious credit enquiries you may not have initiated.

    The Privacy Commissioner, Timothy Pilgrim made a statement yesterday:

    “I have opened a formal investigation into the Telstra data breach. At a briefing today Telstra has assured our office that the immediate problem has been rectified and that personal data is no longer accessible.

    I have asked that Telstra also provide me with a detailed written report on the incident, including how it occurred, what information, if any, was compromised and what steps they have taken to prevent a reoccurrence. I will consider all the information provided by Telstra and hope to be in a position to issue an investigation report in late January 2012,” Mr Pilgrim says.

    It is uncertain exactly what and or how much the Privacy Commissioner could determine Telstra would be liable for.

    A recent decision handed down by the Privacy Commissioner only last week, saw one individual complainant awarded $7500 in compensation after a Leagues Club was found to have breached their privacy.[iii]

    This is not the first time a major data breach has occurred with Telstra. In October 2010, a mailing error saw around 60,000 letters containing personal customer information sent to other customers.

    The Privacy Commissioner found the privacy of Telstra customers was only breached in 2010 due to human error, and did not occur due to any systemic failure of Telstra’s processes or procedures, therefore they were not required to pay damages in this instance.[iv]

    /ENDS.

    Please contact:

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

    Graham Doessel – Director info@mycra.com.au

    http://www.mycra.com.au/ 246 Stafford Road, STAFFORD QLD. Ph: 07 3124 7133 www.fixmybadcredit.com.au

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

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  • Identity criminals harvesting data on our children

    Media Release

    10 November 2011

    Police are concerned identity criminals may turn to targeting the Facebook accounts of children, storing their readily available personal information until they come of age.

    They confirm ‘warehousing data’ is a new trend amongst identity criminals, and warn personal information could be stored and used to set up fake identity documents when the child turns 18, which would allow fraudsters to take out credit in their name.

    A national credit repairer cautions this could leave the newly credit active young person blacklisted from credit well into their 20’s.

    “The amount of personal information that many young people have freely available for viewing on Facebook is frightening. These young people don’t grasp that the information they are posting now, can come back to haunt them later – if that information is stored and misused, their lives can be turned upside down – for 5 years they are locked out of credit, refused cards, loans, even mobile phones,” Director of MyCRA Credit Rating Repairs, Graham Doessel says.

    The Australian Federal Police’s national co-ordinator of identity security strike team, Ben McQuillan spoke about the dangers of identity crime on Tuesday at a forum in Sydney on money laundering and terrorism.

    He warned listeners about the new trend of ‘warehousing’ which involves storing data for a time, making it harder for a victim or bank to trace where and when the data was stolen.

    ”If people know your full name, your date of birth, where you went to school and other lifestyle issues, and they were to warehouse that data, there is a prospect that could then be used to take out loans or credit cards or to create a bank account that could then be used to launder money,” Mr McQuillan told the Sydney Morning Herald.

    Mr Doessel says identity theft  is not only about the initial loss of monies, but if the fraud amounts to credit accounts in the victim’s name going undetected and unpaid past 60 days, a person’s credit file can be ruined for 5 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,” he says.

    Proving the case of identity theft when attempting to recover a clear credit rating can be difficult for the individual to undertake, as Mr Doessel says the onus is on the victim to prove to creditors they didn’t initiate the credit.

    “The fact that the perpetrator is long gone and the actual act of identity theft happened years earlier will only add to that difficulty,” he says.

    Identity theft and subsequent fraud has become rampant worldwide. A survey commissioned by the Attorney-General’s office in July showed 1 in 6 Australians had been or knew someone who had been the victim of identity theft or misuse.

    The survey also revealed that the majority of identity theft or misuse occurred over the Internet (58 per cent).

    A U.S. study released earlier this year, revealed some alarming statistics about Facebook. Of the 20 million minors who actively used Facebook in the past year, 7.5 million—or more than one-third—were younger than 13 and not supposed to be able to use the site.

    It also revealed that one million children were harassed, threatened, or subjected to other forms of cyber-bullying on Facebook in the past year.

    “Clearly, using Facebook presents children and their friends and families with safety, security, and privacy risks,” the report said.

    Mr Doessel recommends parents take an active role in their child’s computer use. He recommends parents and children engage in what information is being provided quite publicly on social networking sites:

    1. Keep Privacy settings high, browse in a secure web browser, which should begin with https: and set profile to ‘Friends only’.
    2. Don’t post personally identifiable information such as full name, date of birth, phone number, and address.
    3. Do not add friends you don’t know. They could be gathering information about you or spreading viruses.
    4.  Be careful about clicking on links – even if they come from friends. Many posts contain viruses which can spread through your whole friends list, or links to sites which require you to enter personal information.
    5. Parents and children should sign up to the government’s StaySmartOnline’s alert system www.staysmartonline.gov.au , which provides many tips for safe social networking.

    If people are concerned their information may already have been compromised, they should contact authorities. For those who are credit active, they should check their credit file immediately, which could bring up any inconsistencies.

    A credit report is free once a year, and can be obtained from one or more of Australia’s credit reporting agencies.

    Any change in contact details, or strange new credit enquiries which show up on the report could mean that the person’s credit file is being misused.

    “If there are defaults on the victim’s credit file, they can instil the help of a credit repairer who can work within the legislation to negotiate with creditors and restore the clear credit rating,” Mr Doessel says.

    /ENDS.

    Please contact:

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

    http://www.mycra.com.au/ 246 Stafford Road, STAFFORD QLD. Ph: 07 3124 7133

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

    Links:
    1.http://www.smh.com.au/technology/technology-news/police-warn-of-sophisticated-plan-to-steal-identities-20111108-1n5l8.html#ixzz1dB4ctHcT
    2.http://www.ag.gov.au/www/ministers/mcclelland.nsf/Page/MediaReleases_2011_ThirdQuarter_3July2011-Newresearchshowsidentitytheftaffectsoneinsixpeople
    3.http://www.consumerreports.org/cro/magazine-archive/2011/june/electronics-computers/state-of-the-net/facebook-concerns/index.htm

    Image: Clare Bloomfield / FreeDigitalPhotos.net

  • The Christmas credit risks you need to know about

    5 Reasons why the Christmas season is the time you are most at risk of damaging your credit rating

    As credit repairers, our busiest period is in the first few months after Christmas. Clients come to us desperate for help to remove the negative listings from their credit files that are causing them to be refused home loans, car loans, personal loans and even mobile phone plans. At this time it is heads down and tails up for our team as we plough through the many cases we receive.

    Before this time, we thought we’d review why the post-Christmas credit crunch may occur, and hopefully help some of you stay out of trouble.

    Here are 5 Christmas hazards you should be aware of:

    1. Identity theft.

    With identity theft growing in severity and volume to now be the fastest growing crime in Australia, the perfect time for fraud could be the Christmas period. Scammers are out in full force and people can be lax with their personal information – never an ideal combination. Many news outlets report of fraudsters ramping up tactics – accessing people’s bank accounts and using personal information to steal identities and ruin good credit ratings.

    The Government website SCAMwatch has released the 12 scams of Christmas – a report on what consumers should watch out for. A few of the prominent scams for 2011 include:

    Holiday scams. Consumers are warned to look out for fake accommodation vouchers, scam travel clubs and scammers asking you to pay upfront deposits for properties which aren’t actually available for rent.
    Flight scams. Scammers set up fake websites which look genuine and make you believe you are purchasing an authentic flight ticket. When you arrive at the airport you may find your booking was a fake.
    Charity scams. At Christmas many legitimate charities appeal for donations of money, food, clothing and children’s gifts. Unfortunately scammers also try to get your money by camouflaging themselves as genuine charities.
    Online shopping. Beware, scammers post fake classified ads, auction listings, and run bogus websites. If you get caught by a scammer you will not only lose your money but will also never receive the item you were trying to purchase!

    If fraudsters are able to access your personal details in full to commit identity theft – they have basically the key to your good credit rating. They can run up credit all over town in your name. Often it’s not until you go to apply for credit in your own right and are refused that you realise your credit file has been misused.  With adverse listings difficult for the individual to remove, and with defaults remaining on your credit file for 5 years your life is basically set to be turned upside down without the help of a credit repairer.

    2. Overlooking bill payments.

    There is no doubt the lead up to Christmas is busy. Work is incredibly fast-paced, kids have prizegivings, graduations, Christmas parties and holidays, the Christmas shopping needs to get finished, Christmas food needs to be bought, and holidays need to be booked and planned. The fallout from all of this stress can be the little $180 phone bill that gets shoved in a drawer to think about at a later date, or you can even forget to transfer money for the mortgage payment.

    Then you go away for a few weeks in January to unwind trying to put Christmas, work, and stress behind you while you dip your toes in the water and sip your margarita.

    When you get back, there may be a notice in the mail saying the phone company or the bank has listed your account as unpaid and put a default listing on your credit file. Or it may not be until you apply for credit again that you find out about the bill – but by then it is much too late.

    60 days is all it takes to have an unpaid account listed as a default on your credit file.

    Before you get into the Christmas rush, nominate a place for all of your bills and make a point of actioning them all as soon as you can. Don’t let the New Year go by without clearing your debts – especially if you are going on holiday for a significant period.

    3. Moving and transfers.

    Moving house is a very common reason people have bills and even default notices go undetected which can lead to a bad credit rating. As Christmas and New Year is a very common time for transfers and other work changes to occur that could see you moving interstate it is very important to tie up all loose ends in your current address.

    At least two weeks prior to your move, notify all creditors of your change of address and when that will occur and get confirmation of the receipt of your new address in writing or via email from them. When cancelling utility and phone accounts, give those creditors the date of your move and request to settle the account on that date. Ask for confirmation that the account has been settled sent to you via email or to your new address. Make a diary note to chase this up if it has not been sent within a week of your move.

    The number one rule for moving is get all changes confirmed in writing. Otherwise accounts may not be completely settled, and the creditors may not have your new address to send you any outstanding debts, resulting in a bad credit rating which you would only find out about when you are going for credit in a separate instance.

    4. Over committing and spiralling into debt.

    It may be a simple rule, but one which can be difficult to apply when you get caught up in the “Christmas spirit” – don’t spend what you can’t afford.

    You may, as many do, feel the pressure to “give” so much you do so at the expense of your own budget and ultimately end up with a debt you cannot pay back. The end result of this can be getting into more debt to pay the original debt. It eventually catches up with you, and you end up with loan commitments you can’t meet or other bills get neglected because you just can’t afford to pay it all. Creditors start to default your credit file. Your financial freedom is compromised.

    Savings guide Australia offers some tips this season on ways to have a great Christmas without blowing the budget. Our best advice is actually to have a budget and stick to it. Reducing spending on each person by even 20% will make a massive difference at the end of your shopping. You should also write a shopping list and stick to it, minimising the likelihood of impulse buying.

    Remember it’s the thought that counts!

    5. Overlooking errors and omissions from Creditors.

    This is the silly season – and everyone is busy and preoccupied. The volume of transactions may increase while staff decrease, putting stress on Creditors’ systems. For this reason it is crucial to keep an eye on your own finances.

    Check your bank statements (it could even help with Christmas budgeting), check your bills as they come in and make sure everything is as it should be. Know which bills are due and when. If you don’t receive a bill for whatever reason, chase it up. The Creditor will more than likely still have a record of the bill – it may have been lost in the mail or sent to the wrong person. But in the end you are the one who will pay for their oversight.

    This is also a good time to request a free copy of your credit file from one or more of the credit reporting agencies if you haven’t already this year. You will receive a copy of your credit report within 10 working days. You should check that all of your details are correct. Check there are no adverse listings on your credit file which could prevent you from accessing credit in the future. If there are negative listings – defaults, writs or Judgments which you believe contain errors, are unfair or just shouldn’t be there, you have the right to have these entries rectified.

    Make your life easier and ensure you get the best chance of getting the listing/s removed by instilling the help of a credit repairer. Visit MyCRA Credit Repairs for more information on how credit repair works, or call tollfree on 1300 667 218.

    Image: Stuart Miles/ FreeDigitalPhotos.net

    1. Image: Chris Sharp / FreeDigitalPhotos.net 3. Image: Digitalart / FreeDigitalPhotos.net 4. Image: worradmu / FreeDigitalPhotos.net 5. Image: nuttakit / FreeDigitalPhotos.net