MyCRA Specialist Credit Repair Lawyers

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  • Over 23,000 accounts of tax file number identity theft last year

    Numbers just out from the Australian Taxation Office (ATO) may help to demonstrate the prevalence of identity theft attempts in Australia, and show the valuable commodity that personal information has become. Personal information in the wrong hands can be used to steal your tax refund, rob your bank accounts, leave you in debt, and threaten the next 5 years of your life through bad credit history.

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

    The ATO has confirmed 23,300 Australians had their tax file number compromised in the 2012 financial year.

    This is up from 22,000 the previous year.

    CPA Australia head of taxation Paul Drum has said the delay in many tax refunds has been due to manual checking of the validity of the refund – and he revealed it is “quite often showing up as identity fraud.”

    The ATO told the Herald Sun it was working hard to combat identity theft, including information matching tools, data mining techniques and fraud models to detect potential fraud and limit the potential benefits of identity takeover.

    This type of personal information is being sought out by criminals often via online methods as a less risky route to stealing money than more traditional face-to-face methods. Theft of personal information can lead to tax fraud, and it can also lead to credit fraud, as reported in the Herald Sun:

    “A stolen tax file number can be used to lodge fraudulent tax returns or take out credit cards and loans, with the resulting credit rating damage sometimes taking years to fix,” it was reported.

    CPA’S Mr Drum offers an explanation as to the cause of the rise in numbers:

    “The fact that it’s so prevalent, it would seem to be more internet-based than something that’s physically done by going door to door, getting people’s private records from their mailboxes or from business offices or that type of thing,” Mr Drum said.

    “We think a lot of it is by computer hacking over the internet – that people are tricked into providing them when they didn’t have to provide them.”

    Recently we published a post warning readers about the threat of tax fraud ‘Is Your Tax Refund Safe? Identity Theft Warning for Taxpayers’. We addressed this issue, and featured some expert opinion as to who was getting this information and how. The ATO warned that a prevalent scam designed to catch personal information was via fake job ads.

    The fake employer requires the applicant to lodge their tax file number either during the initial application or once an offer of employment is made –that is later withdrawn. The scam is cleverly designed to pilfer the personal information of applicants, including the applicant’s tax file number for purposes of fraud.

    They also say sometimes rogue tax agents are involved in tax fraud.

    But Brett Warfield, a forensic accountant and fraud specialist at Warfield & Associates, said the biggest threat comes from organised crime groups lifting wholesale identity and salary information on employees from private firms or government bodies, either by hacking into company databases or convincing insiders to leak it.

    He told Ninemsn they then use this pilfered data to lodge hundreds of forged submissions with the ATO.

    “They tend to submit the tax returns fairly quickly after the end of June to beat the real taxpayer,” said Mr Warfield.

    He added that crime gangs still have to outsmart the ATO’s sophisticated fraud risk filters, which cross-check claims against data such as previous entries on income and expenses, mailing addresses and bank account details for wiring refunds.

    Ninemsn attempted to use freedom-of-information laws to find out how many such fraudulent returns the ATO fails to intercept, but it admitted it does not measure or even estimate its losses.

    In the meantime, it is our understanding that this type of crime is on the rise. In this digital age access to our own information (and to others in the process) becomes easier, and interaction with companies which hold our information and/or use it, become less personal. In this digital age it is how we appear on paper (or rather ‘online’) through our credit ‘score’ or ‘rating’ that means doors either open or close for us in financial circles. Business is not done on a hand shake any more. Seldom does anyone give their ‘word’ and that is enough. So we are vehement with educating people about how their personal information can be compromised, and impact their credit rating. This is a big threat to our credit health – and important to understand and prevent.

    If yourself, or someone you know has been a victim of tax fraud, or any other type of scam or fraud, it is important that you manage the risk to your credit file:

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

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

    2. Notify creditors. You may need to cancel credit accounts.

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

    4. Notify credit reporting agencies of the possible fraud. This may help to prevent any attempts to misuse your good credit rating.

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

    For help in recovering your credit rating following identity theft, contact a Credit Repair Advisor on 1300 667 218 or visit the MyCRA Credit Rating Repairs main site www.mycra.com.au.

    Image: Grant Cochrane/ www.FreeDigitalPhotos.net

  • Consumer groups push for changes to new credit laws

    In a final attempt to plead for correction of what many are calling some glaring mistakes for consumers within Australia’s new credit laws, a coalition of consumer groups is urging the Federal Government to make some changes before they pass the Privacy Amendments (Enhancing Privacy Protection) Bill 2012. We look at what this group is proposing, and how the new laws, if they are passed as is, could affect you and your credit history.

    By Graham Doessel, Founder and CEO of MyCRA Credit Rating Repairs

    A coalition of consumer groups is hoping the Federal Government will make some changes to their new credit reporting laws prior to the Bill’s passing by both houses. One aspect they are opposed to is the minimum debt amount for credit listings – which currently stands at $100 .Various recommendations to increase the minimum amount were submitted to The Senate Legal and Constitutional Affairs Legislation Committee recently. Consumer groups believe the minimum should be increased to $500.

    The consumer groups are: Financial Counselling Australia, Australian Privacy Foundation, Consumer Credit Legal Centre NSW, Consumer Action Law Centre

    Here is an excerpt from the group’s media release, which featured on Financial Counselling Australia’s website Small debts lead to big problems:

    Spokesperson Kat Lane of Consumer Credit Legal Centre, said ‘under the current proposal someone’s ability to access a home loan could be ruined by one overdue electricity or phone bill.’

    ‘It’s easy to fall 60 days behind on an energy bill—it could be something as simple as the bill being sent to the wrong address or the account holder being away from home for an extended period. I don’t think many people would think this should affect someone’s ability to get a home loan,’ said Ms Lane.

    ‘If the amount for which someone could have a default listed on their credit report was increased to $500, people would be far less likely to be overly penalised for one overdue bill or for making one simple mistake.’

    Ms Lane said many small debts listed on credit reports were utility or phone debts and didn’t necessarily reflect a person’s suitability for credit. She also said that smaller debts, such as phone or utility debts, are often disputed by consumers.

    ‘We’d hate to see someone’s credit history affected because of an outstanding bill which they don’t even owe. Billing mistakes do happen and, as the Government’s plan currently stands, these small mistakes could have big consequences.’

    The group is also concerned about the additional information which will be available to lenders once the new laws are introduced, and particularly repayment information. They recommend the Government do more to educate consumers on their rights and obligations under the new laws:

    ‘If comprehensive credit reporting is introduced, Government and industry needs to make efforts to explain the new regime to consumers, especially that repayment information such as whether you repay your loans on time each month will be now listed on credit reports, and consumers’ rights to make complaints if there are disputes,’ Ms Lane says.

    We agree with the group’s proposals in the interests of consumer rights. The Government must do more to educate consumers on their rights if they are going to insist that more information about them be made available to lenders. In my experience, many consumers collectively:

    1. Do not know they can apply for a free credit check every year.

    2. Do not know that their credit file could contain errors and that they are responsible for ensuring their credit file accurate.

    3. Are not finding out they have credit listings in many cases until they apply for major credit and are refused.

    4. Are suffering mistakes with their credit listings which they have very little knowledge of how to rectify – this can go from a disputed bill, right through to blatant mistakes such as wrong names and wrong addresses.

    5. Do not know that if they pay a bill late in the very near future, that this could impact their ability to obtain.

    6. Have had very little explanation from the Government on precisely how correcting credit file mistakes will be made easier with the new credit laws

    We wait in hope that many of the current issues will be rectified following the introduction of these new credit laws. In the meantime, we will continue to try to educate consumers on how to navigate Australia’s credit reporting laws, and continue to insist on credit reporting accuracy by contesting disputable credit listings on behalf of our clients though our business of credit repair.

    For more information on credit repair, contact a Credit Repair Advisor on 1300 667 218 or visit our main website www.mycra.com.au.

    Image: renjith krishnan/ www.FreeDigitalPhotos.net

     

  • Is your good name at risk? What you may not know about identity theft and your credit file

    It is reported that possibly as many as 24 per cent of Australians* have been, or knows someone who has been, a victim of identity crime in the last six months. As this week is National Identity Fraud Awareness Week, we are hoping to do our part to raise awareness about this crime. Victims are not always ‘gullible’ as may be the impression in the wider community. Many experts say it is not a matter of if you experience an identity theft attempt, but when. So we look at the facts on identity crime both worldwide and in Australia, and hope to educate more people about this new crime wave, as it can severely impact your credit file and hinder your ability to obtain credit. It could also help to pass the information on to someone you know.

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

    Australian Federal Police released a statement yesterday warning Australians to defend themselves against identity crime. AFP National Coordinator Identity Security Strike Team’s Darren Booy said this year’s focus is on limiting the amount of personl information that falls into the hands of criminals.

    “Identity fraud is an emerging threat to Australia and is growing rapidly, with identity fraudsters using increasingly sophisticated methods to manipulate their victims,” Superintendant Booy said in a statement to the media.

    Who commits identity theft?

    It can originate from someone you know – for example an acquaintance obtains identity documents or credit card details to impersonate you. Or more increasingly it comes from professional fraudsters whose main occupation is to steal personal information and financial details in order to commit fraud. These fraudsters are reportedly part of a network of criminals possibly involved in many other crimes. The Australian Federal Police recently stated that most large crime groups have built identity theft into their repertoire.

    The key to successful identity theft is obtaining your vital personal information. The internet is a big source of personal information and its ever increasing use makes you more vulnerable to identity crime than ever.  This means identity crime can have very long arms and can originate overseas. Social networking, online banking, company databases and email scams can all be havens for today’s cyber- criminal.

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

    Why is identity theft increasing?

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

    In cyber circles alone, world estimated costs for cybercrime are staggering.

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

    “Traditional bank robbers must be absolutely gobsmacked when they hear sums like this being hoovered up by cyber- criminals week in, week out,” he said in an article Cybercrime: is it out of control?

    How would identity theft impact my life?

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

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

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

    Fraudsters are never kind enough to pay back the credit they obtain in your name. After 60 days you may be issued with written notification of non-payment and the intention for the creditor to list a default on your credit file. It is at this moment that some people who were previously unaware of any problems find out they have been victims of this more sophisticated type of identity theft.

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

    When would I know if I have been a victim of identity theft?

    Some signs to watch out for include:

    1. Strange unaccountable withdrawals on credit or personal bank accounts. It may not need to be a big amount to indicate fraud. Many criminals do ‘test’ amounts to begin with before extracting more significant amounts.

    2. Phone calls or emails from what often appear to be legitimate companies, asking for money or personal details. If you have given bank details or personal information in this way either online or on the phone there is a high chance it was a scam. Verify with the company in question.

    3. Can’t log in to social networking or bank accounts.

    4. Credit refusal

    5. Bills or letters of demand sent to you for accounts you don’t know about

    6. Missing mail – particularly credit card statements which could indicate someone has overtaken your accounts. In this case no news is not good news.

    What steps can I take to prevent identity theft?

    1. Keep virus software up to date on your computer. Install automatic updates and perform regular virus scans.

    2. Keep your privacy settings secure on all social networking sites.

    3. Keep your passwords and PIN numbers secure. Don’t carry PIN numbers with your credit/debit cards, change passwords regularly and use a variety of passwords for different purposes.

    4. Check all your credit card and bank statements each time they come in.

    5. Cross-shred all personally identifiable information which you no longer need.

    6. Buy a safe for your personal information at home.

    7. Do not give any personal information or credit card details to anyone via phone or email unless you are sure the site is secure, and or you can verify the company details.

    8. Be aware of who gets our personal information and for what purposes. What can these people do with the information they are gathering? For instance, is it really necessary for the site you are registering on to have your date of birth?

    9. Keep up to date with the latest scams by subscribing to the ACCC’s ‘SCAM watch’ website. For a list of ways your computer can put you at risk, visit the governments Stay Smart Online website www.staysmartonline.gov.au.

    10. Check your credit file regularly. A credit check at least every 12 months (which is free annually) will alert you to any suspicious activity with your credit file.

    If you think you might be vulnerable to identity theft, here are some things you need to do:

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

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

    2. Notify creditors. You may need to cancel credit accounts.

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

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

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

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

    The Australian Federal Police have established an Identity Crime Survey to test people’s vulnerability to identity crime, and we encourage everyone to take the test: http://www.afp.gov.au/what-we-do/campaigns/national-identity-fraud-awareness-week.aspx

  • Are Australian house prices set to crash?

    Is it good news or bad for the housing market? We look at what’s happening in the property market in Australia and expert opinion as to where we’re heading in the future.

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

    It has been reported by major newspapers that house prices are on the way up. RP Data’s monthly report reveals that property prices have risen for the fourth consecutive month. Capital city dwelling values rose 1.4 per cent in September, according to a Sydney Morning Herald story last week. RP Data’s research director, Tim Lawless attributed the improvement to low interest rates.

    But barely before the housing market has even gotten off the ground, there have been warnings about the over inflation of house prices and over commitment. Credit Rating Agency Moody’s Investors has warned the Reserve Bank and regulators that low interest rates could fuel a housing bubble in Australia which they say will inevitably burst – leaving the market more vulnerable to a crash. Moody’s say despite low credit growth – banks need to maintain high credit standards in order avoid a U.S. style lending surge.

    As reported by Mike King (Motley Fool) in Ninemsn:

    “Lower interest rates could encourage borrowers to load up on more debt, at a time when household debts are still fairly high.  A housing crash could see many homeowners over-leveraged and owing more than their house is worth – similar to what happened in the U.S. However, unlike the US, where banks in many states don’t have recourse to people’s other assets, Australian banks can pursue borrowers to recover any shortfalls between a home loan and the sale value of the house,” King says in the story Are we heading for a house price crash?.

    This may be good advice for many borrowers to heed in the back of their minds. It may be better to borrow conservatively, in order to cover the potential loss of a market turning backwards, and to avoid redrawing on the original amount during the early years of the loan.

    Will we really experience a housing bubble?

    If banks heed warnings from the likes of Moody’s, lending criteria will still remain pretty tight through the foreseen house price increases – at least in the short term. Also, the new information which will be available on credit reports may cause lenders to refuse credit to more people in the coming months as well.

    We are yet to see what the addition of ‘late payment’ notations on Australian credit reports (information about when accounts are paid late) will do for lending figures. Under new credit laws, the Privacy Amendment (Enhancing Privacy Protection) Bill 2012,  payments can be as little as one day late and be noted on consumer credit files.

    It is uncertain the impact these notations will have on someone’s ability to obtain credit.

    I would imagine many lenders, in the interest of ‘responsible lending’ would not want to have on record that they have loaned major credit to a serial late payer. Could lending to someone who had a few late payments on their record be classed as ‘irresponsible lending” should they default? What will be determined as too many late payments on a credit file is not yet defined and is quite a subjective aspect of these new laws which will be up to each lender/insurer to decide.

    I predict that this aspect will lead to fewer approvals as banks err on the side of caution, at least in the short term.

    For more information on repairing your credit file and removing inconsistent credit listings for good, to give you the best chance at being approved for credit at the best interest rates contact a Credit Repair Advisor on 1300 667 218 or visit our website www.mycra.com.au.

    Image: Sujin Jetkasettakorn/ www.FreeDigitalPhotos.net

  • Less home owners in arrears, but those in default have reached historic numbers.

    It seems more of the Average Joe’s are able to meet their mortgage payments. The latest figures from Fitch ratings reveal that arrears numbers came down in the second quarter of 2012 and the predictions are that this will continue. This is great news overall for credit debt numbers in Australia. But on the downside, Fitch did say low doc loans and 90 day-plus arrears reached historic highs, and also warns that declining house prices mean recovery in the property market would be slow. We look at the Fitch report in more detail. We also look at why more people may be ‘losing it’ with their repayments into the bad credit zone, and what they could do about it.

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

    According to Australian Broker in the story ‘Fair dinkum: prime arrears decrease’, Fitch Ratings’ ‘Fair Dinkum’ mortgage performance report for Q2 was positive for mortgage delinquencies:

    “Delinquencies in the Australian prime RMBS sector decreased to 1.54%, from 1.6% in Q1.”

    Furthermore, the analyst expects arrears to continue to decrease in Q3 and Q4 due to recent RBA rate cuts.

    “Lower interest rates should result in improved affordability for existing borrowers and thus to lower arrears levels,” it [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”][Fitch] said.

    However, self-employed borrowers, low doc loans and the 90 day-plus areas continue to cause headaches, although Fitch was keen to stress levels still remain low compared to international markets, particularly the UK and US.

    “Delinquencies in the low-doc segment tend to be two, or two-and-a-half times [higher than] those of full-doc loans, but in the 12 months to end-June 2012 they were four-and-a-half times higher,” it said.

    It did warn declining house prices remain a threat to the property market overall.

    “A significant drop in house prices could negatively affect transactions, in terms of recovery rates and time,” it said.

    “As house prices fall, eventual sales prices are more likely to be below the mortgage balance, leading to losses and claims under lenders’ mortgage insurance (LMI).”

    For those many Australians looking to make their home loan more affordable and meet the repayment deadline every time, the recent interest rate cuts (and more if passed on!) should go a long way to help.

    But it seems the numbers of those who are in arrears far enough to cop a default on their credit file – those in crisis mode with 90-days or more owing on their mortgage – are at a record high. What is happening to lead more groups of people in to crisis mode? Job losses? Over-commitment? Irresponsible lending in the past? Illnesses?

    It could be all of those things or just one which leaves a home owner in dire straits with their mortgage.

    What happens to those people that reach 90 days in arrears?

    Hopefully that situation never happens to you. But if it does, what would you do?

    If you’re smart, you’ll apply for financial hardship with your bank as soon as you find out you are having difficulty making payments. They may be able to restructure your repayments to more affordable levels temporarily until your financial crisis is averted. They may also be able to put a halt on any defaults they were going to issue to your credit rating.

    If you can’t apply for financial hardship; aren’t approved for a variation in your repayments; or don’t know about your financial hardship options – then you will be defaulted.

    This means you will carry a black mark against your name for 5 years. This is irregardless of whether you have a windfall and are able to get up to date with your payments or even if you get ahead in the future.

    This black mark will mean you are virtually banned from mainstream credit for the term of the default. So credit cards, loans and even mobile phone plans are near to impossible to get. Unless, you go with a lender who is able to factor in the risk of lending to someone with ‘bad credit’, but understand, you will pay much more for this type of loan.

    On an average $300,000 home loan, you will pay over $15,000 extra in interest on a bad credit loan when compared with a mainstream lender. This is just over the first three years at 9% bad credit loan vs 7% standard loan. See our interest calculator to find out how much extra you’ll pay. Then there’s the other credit – credit card interest, payday loans – they’re all at higher rates.

    Imagine the cycle some people in this situation can get into. It’s a domino effect. More charges mean more difficulty making payments. Soon one default can then lead to another and another. Before people it they are filing for bankruptcy or having their homes repossessed.

    We are looking to educate consumers about three things to do with credit:

    1. If you can’t afford the credit, don’t get it. This sounds simple but is actually not easy to determine. Your best bet if you’re unsure what you can afford, is to seek some budgeting help. But don’t just hope for the best – because life happens – doesn’t it?

    2. If something happens and you can’t afford what you used to be able to afford – stick your hand up and ask for help with your Creditor as soon as possible.

    3. If you have bad credit, and you don’t think it should be there  – save yourself thousands and dispute it.

    Even if you’re just not sure, it would be worth getting your credit file and case assessed by a credit repairer to determine your suitability. For professional help with disputing your credit rating (which will give you the best chance of having your bad credit removed from your credit file completely) contact a Credit Repair Advisor on 1300 667 218 or visit our main website www.mycra.com.au.

    Image: graur razvan ionut/ www.FreeDigitalPhotos.net[/fusion_builder_column][/fusion_builder_row][/fusion_builder_container]

  • ID scanners in nightclubs are boosting the risk of ID theft says Privacy Commissioner

    Their purpose is to crack down on crimes of violence in pubs and clubs. But according to the Privacy Commissioner, an increasing number of complaints have been made to his office about the use of ID scanners in licensed venues. We look at what the issues are with ID scanners and whether your personal information is safe to hand over.

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

    It’s Friday night, you’re heading out to meet a group of friends in a nightclub. You head to the door, and are asked to hand over your ID to be scanned in to the venue’s ID scanner. Do you do it? Do you ask what’s happening with that information? Or do you merely let them whisk it through – knowing you’re not one of the troublemakers they’re looking for, and happily meet your friends in the club?

    Most young people would just hand over their ID, and this technology is being used in plenty of venues around Australia – with the intention of finding those holding fake ID cards, or those patrons who have been ‘banned’ or ‘flagged’ as unwanted.

    But many are calling for action over the use of identity scanners, because of the increase in risk of identity crime.

    Privacy Commissioner Timothy Pilgrim says there are a number of issues and risks associated with using ID scanning for this purpose.

    “If organisations are going to require to collect that information for reasons like that, it needs to be very clear at the point of entry that people will be asked for that information,” he told ABC’s World Today yesterday.

    “And people need to be told what will happen to that information once they hand it over. How is it going to be kept? Is it going to be kept securely? Is it going to be kept for a limited period of time, and who else may get access to it?

    “People have the right to know these things.”

    Mr Pilgrim says the use of ID scanners at pubs and clubs is increasing the risk of identity crime.

    “The more and more we’re being asked for information, the more and more it’s being stored in databases,” he said.

    “It leads to almost a honey pot sort of situation, where people who have malicious intent-criminal groups, for example, can see value in breaking into those systems.”

    The Privacy has been given new powers of penalty for businesses which breach privacy regulations, in the Privacy Amendments (Enhancing Privacy Protection) Bill 2012, which is currently before the Senate. This will include allowing him to penalise businesses which breach privacy regulations.

    “I would hope that organisations take the responsible step of putting in place proper protections for people’s personal information,” he said.

    “However, if there are serious and repeated breaches of the Act, I won’t hesitate to use the powers that I will have.”

    However, Victoria’s acting privacy commissioner, Dr Anthony Bendall, estimated more than 90 per cent of Australian businesses were not covered by the regulations in the Privacy Act because they had an annual turnover of less than $3 million.

    He says Privacy principles were unclear on businesses’ obligations if the information is compromised.

    ”If you do hold personal information and [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”][it is] breached in some way you’re not required to notify people that’s happened, and if it’s something like your licence there’s a good reason you should be telling them and to be taking steps to helping patrons protect themselves,” he told The Age on Sunday.

    Here’s more from The Age story, ‘ID scans raise privacy fears’:

    ID scanner company Scannet gives venues the rights to their own databases, and allows them to share the photos – but not the licence details – of banned patrons with other venues.

    Scannet director Joel Sheehan said it had 45 systems operating in Australia since it began selling them last year.

    Mr Sheehan said machines were password protected, with patrons generally more willing to scan their licences at clubs and pubs now.

    ”Now people that aren’t troublemakers that want to go out and enjoy themselves are all for it,” he said. ”At the end of the day the system’s voluntary, they don’t have to have their ID scanned as a condition of entry but at the same time if somebody’s not going out to cause trouble they shouldn’t have any problems having their ID scanned.”

    He said ID scanners had had a deterrent effect in clubs and pubs, as venue owners could pass on records to police of violent customers. He credited the machines with improving the safety of nightlife in Newcastle, where the company launched…

    While the Scannet website says the machines can help venues ”forecasting future business”, Mr Sheehan said that it was up to venues to comply with the Privacy Act and avoid abusing customers’ details.

    Australian Privacy Foundation board member Dr Katina Michael, said ID scanners were not effective in detecting fake IDs or deterring violent behaviour but put the majority of people at risk of identity fraud.

    ”When you’re talking about private entry to pubs and clubs … they may turn personal information into ones and zeroes at the back end and these stored identities in the future can be stolen … How do you reclaim your identity?”

    Some important points have been made here.

    1. When we are told identity crime is on the rise and is fast being used as part of the ‘repertoire’ of criminals around the world – why should people be parting with personal information unnecessarily? Especially when that information is a direct copy of an identifying document?

    2. It’s not a matter of crime groups not having the capabilities to hack into these databases…but more that it is not worth it…yet.

    3. If a data breach did occur, would those small businesses using the scanner even be required to be subjected to the big stick of the Privacy Commissioner?

    So what could happen if someone misused your identity? Your name could be attached to criminal activities; fraudsters could request tax or Centrelink payments on your behalf, as well as taking out credit in your name.

    If you have credit taken out in your name, you will often unknowingly incur debts with Creditors issuing defaults against your name on your credit file. People could be chasing you for credit you didn’t initiate, and if you apply for credit in your own right – you will be refused. This will continue for 5 years while you have bad credit.  You will be locked out of mainstream loans, credit cards and even mobile phone plans. So it’s important to protect your good name and prevent bad credit through fraud.

    My advice? Think twice before you scan your ID in next time you’re clubbing. If it was me, I would say no, or go somewhere else 🙂 Because you do have something to hide, and that’s your personal information.

    For help recovering your good credit history following identity theft, contact MyCRA Credit Rating Repairs on 1300 667 218 or visit our main website www.mycra.com.au.[/fusion_builder_column][/fusion_builder_row][/fusion_builder_container]

  • How do I fix my bad credit?

    In this day and age everything works on credit. If you cop a default on your credit file – you will be refused credit with mainstream lenders (at affordable interest rates). If you do get a loan, often the interest rate is much higher. You may also find you can’t get credit cards or mobile phones on a plan. So you can’t afford to let bad credit history stand in your way – especially if that credit listing shouldn’t be there. Let’s look at what you can do if you want to fix bad credit.

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

    If you have bad credit – you have two options….

    1. You can attempt to remove the default or other credit listing yourself, and there are processes to do this – OR

    2. You can use a professional credit repair service.

    The benefit in fixing your own bad credit is that it’s cheap. You may have very little costs associated with disputing your own credit listing. But similarly to defending yourself in Court – the cheap option may not be the best one for you.

    Credit rating errors are quite common, and the onus of ensuring the accuracy of your credit file rests with you. But how do you know if a listing has been placed accurately on your credit file, or if it should be there in the first place?

    There are strict codes of conduct and legislation which must be adhered to when your Credit Provider is placing a default or other credit listing on your credit file. These laws are in place to protect consumers from unfair and damaging credit reporting. Creditors are largely aware of this legislation (yet may not have adhered to it), but there are very few consumers who are well-versed in credit reporting and industry legislation.

    In order to dispute a credit listing which you believe shouldn’t be there, you must identify where the Creditor has not adhered to current legislation when placing the notation on your credit file. There is a whole barrage of points which need to be met in order to constitute a valid listing, and if you have not been made aware of all the avenues for dispute, then you could be doing yourself and your case a disservice.

    A professional credit repairer will often dig deeper to conduct an audit-like investigation of your credit complaint to uncover errors or non-compliance.

    What’s the process for a credit repairer to fix my bad credit?

    Credit repair is not an exact science, because every case is different but there are some common threads which run through credit reporting law which we follow.

    Firstly, we order a free copy of your credit file on your behalf from one or more of Australia’s credit reporting agencies which tells us exactly who and what we are dealing with in relation to the bad credit.

    Then we investigate any avenues for disputing your credit listing or listings with your creditor. This involves requesting documentation from your creditor about your account. The creditor can at times take a while to provide the information they should.

    Then the information we receive is cross-referenced against the appropriate legislation for potential compliance errors.

    Then we formally communicate with your creditor to request the removal of what we would then deem to be a listing placed on your credit file unlawfully. This process can be a bit ‘back –and- forth’, as there are procedures that we, and they have to follow in accordance with industry and the law as well as negotiations which take place behind the scenes with creditors. The complaint may also need to be escalated to a higher authority such as an industry Ombudsman if there is no satisfaction with the creditor.

    If the creditor agrees to remove the listing, we ask you to contact the credit reporting agencies at a later date to confirm it has been removed. (You don’t generate a credit ‘enquiry’ on your credit file if you request the information yourself – and too many credit enquiries could see you refused a loan).

    How long will it take to fix my bad credit?

    The length of time it will take to remove bad credit from your credit file is very much an unknown factor.

    It could depend on the particular facts relating to your application, including the evidence required to support each party’s claims; on the amount of cooperation we receive from your creditor/s including how quickly they respond to our requests; on the number of issues raised in your application; the volume and relevance of information and supporting documents provided by you and the complexity of the legislation relating to your particular defaults.

    At MyCRA Credit Rating Repairs, the costs involved are not based on the amount owing nor the time it takes to remove the listing, but are on a per-listing basis. For more information on costs, visit our main website www.mycra.com.au.

    Warning

    Not all credit repairers are the same.

    What makes a good Credit Rating Repair Company?

    1. Transparency

    You need full disclosure of fees and charges up front. You need to know exactly what the service will cost before you spend a single cent. Are there any Guarantees in place, what about refund policies. Then, is it all written down?

    2. History

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

    3. Expectations

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

    In addition to these 3 items, there are a few others to check on as well.

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

    The main message here is:

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

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

    If you’d like to speak to a real person about how we can help fix your bad credit, contact a Credit Repair Advisor on 1300 667 218.

    Image: David Castillo Dominici/ www.FreeDigitalPhotos.net

     

  • Unfair electricity prices subject of Senate Inquiry

    Having your electricity disconnected, or copping a default on your credit file because you just can’t afford the astronomical power bills you are receiving may be less frequent, if a Senate Inquiry which begins today in New South Wales is successful in helping to cap soaring electricity prices. This type of Inquiry is typical of what will be happening in every state across Australia in the near future, or states have been warned by the Gillard Government that come this December, it will make moves to regulate energy.

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

    The Senate Select Committee on Electricity Prices will also hold hearings in Melbourne, Perth, Brisbane and Canberra, and is due to report back on November 1.

    The Committee will hear a number of submissions from industry and consumer groups in order to identify why prices have soared and investigate how households and businesses could reduce their costs.

    One vocal advocate for consumers helping to stop rising electricity prices is consumer group Choice, who made 14 recommendations to the Senate committee ahead of today’s hearing.

    His comments were featured in The Australian today in the story Inquiry into electricity bills to begin:

    Matt Levey, head of campaigns for consumer group Choice, will tell the inquiry that regulatory change is needed to stop the “gold plating” of the energy network.

    He said the main driver of higher power prices was the billions spent on power infrastructure.

    “This is clearly a broken system, and our governments need to cooperate and ensure we never see these sorts of cost increases again,” Mr Levey said.

    The average NSW household’s annual electricity bill has more than doubled since 2007 to about $2,200, according to Choice.

    Mr Levey’s comments were also highlighted in this story, Choice urges electricity price reforms:

    In its submission, Choice urged the Senate committee to consider strengthening the Australian Energy Regulator and to allow it to scrutinise the cost-effectiveness of infrastructure spending.

    It also wants networks to invest in the most cost effective solutions to meet consumer needs and an emphasis on reducing peak demand.

    “Moves to help households switch electricity providers, like banning exit fees, are welcome but they are no substitute for doing the heavy lifting and putting a stop to the wasteful spending that is pushing up electricity costs,” Choice head of campaigns Matt Levey said in a statement.

    The Energy Retailers Association of Australia (ERAA) in its submission to the committee has said energy retailers have very little influence over the causes of price increases in recent years.

    “It is important that senators understand that retailers are the billing agent for the entire electricity industry value chain, meaning they bear much of the consumer backlash over rising electricity prices,” ERAA chief executive Cameron O’Reilly said.

    Whilst energy retailers may have had little influence over prices in recent years, they do have an influence on how they deal with energy complaints and energy default disputes – and this may also be what also contributes to customer dissatisfaction at soaring prices.

    When we hear recently that 10,000 South Australian energy consumers had their power disconnected in the 12 months to July, because they just can’t pay their bills and that this is an increase of 38 per cent in disconnections, then you do have to wonder, how efficient is the system?  Likewise, despite many programs within energy companies for customers experiencing hardship, the above statistics beg the question, how efficient and accommodating have energy providers been in delivering these hardship provisions to those clients that need it most? After all, power is a basic essential – not a luxury item.

    The Australian Council of Social Service’s (ACOSS) submission to the senate inquiry into electricity prices included some recommendations on how to improve on affordability for those on low incomes:

    ACOSS recommends that consideration be given to more flexible billing options to help low income households control their expenditure, such as:

    • The introduction of pre-payment meters on a voluntary basis where they suit a customer’s needs and appropriate consumer protection policy is in place.
    • Offering monthly billing to reduce bill shock often caused by the current quarterly billing in arrears.

    ACOSS also recommends that people on Allowances should receive the Utilities Allowance to which people living on pensions are entitled.

    These seem like great recommendations to help those battling the rising cost of living.

    In the area of disputed energy credit listings, another big issue which we find arises amongst our clients is the lack of adherence to correct notification procedures when placing a default on the customer’s credit file. Many of our energy clients believe they have not been given enough time to remedy the outstanding account, prior to being issued with the default. Does this also demonstrate an eagerness to crack the whip without regard for those doing it tough?

    We hope the Inquiry addresses some of those wider issues as well. We look forward to hearing the outcome of this Inquiry, and subsequent inquiries in the other states come November 1.

    If you have an energy default, Clear-Out writ or Judgment you would like help to dispute, contact a Credit Repair Advisor at MyCRA Credit Rating Repairs 1300 667 218.

    Image: tungphoto/ www.FreeDigitalPhotos.net

  • For those about to default on their home loan

    A recent survey on Australian Mortgage Stress has revealed a fifth of first home owners risk defaulting on their mortgage in the next few months – are you one of them? We look at who might be vulnerable to mortgage stress, why you want to avoid defaulting on your home loan, and what you can do to prevent things reaching that stage.

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

    An ‘Australian Mortgage Stress Analysis’ survey released last week shows almost 20% of the 26,000 Australian households surveyed were under mortgage stress.

    The results from Digital Finance Analytics (DFA) showed 16% of those homeowners surveyed currently fall into the ‘severe mortgage stress’ category.

    Those in Tasmania are leading the crisis with 17.2 per cent falling behind in repayments, being driven to refinance or pressured by banks to sell. This was closely followed by Northern Territory (17 per cent), New South Wales and South Australia (both 16. 4 per cent), Victoria and Queensland (both 16 per cent), ACT (15.2 per cent), and Western Australia (14.4).

    Digital Finance Analytics says rising household costs and budget blow outs can land first-home buyers in hot water.

    The survey showed the number of suburban homes in the severe mortgage stress category will rise by 4000 from 43,600 by June 30 next year.

    How could I be affected by defaulting on my home loan?

    Obviously, if you default on your mortgage for a certain period of time, you risk the bank taking the home. But even if you default once, but then begin to make up the repayments you are still putting your future at risk.

    If you fail to make repayments on our loan past 60 days, the bank will make a notation on your credit file – a ‘default’ credit listing. Once you have a default against your name – it will stay there for 5 years. The intention of adding default credit listings to credit history is to warn future credit providers you would potentially have trouble keeping up with repayments. Likewise, as part of ‘responsible lending’ it would mean the credit provider would be acting irresponsibly to lend you money – so most don’t.

    A default on your credit file means you have very little access to mainstream credit for the five year term. If you really need to borrow money – you may be able to get a non-conforming loan – but that’s going to be at a much much higher interest rate. You may also find it difficult to access all secondary forms of credit – such as mobile phone plans, credit cards and store credit. This is how people end up going for alternative loans and paying massive amounts of interest. If you fall into this cycle (and sometimes there can be no choice) you can often end up getting into more and more debt without the funds to climb out of it.

    This credit lockdown is the very reason why people with legitimate credit rating errors seek help through a credit repairer, and fight so hard to have those credit listings which shouldn’t be there removed from their credit file. Our society works on credit, so it is often very difficult to live with defaults or other adverse listings on your credit file.

    So to avoid this ‘debt cycle’ through living with defaults on your credit file, what you want to do is avoid defaulting on your home loan (or indeed any other forms of credit) at all costs.

    What can I do if I am experiencing mortgage stress?

    Yesterday Sydney Morning Herald’s Money section featured some great advice for people in the situation of mortgage stress in their story Tell them to cut you a break. The article gives you some great practical tips on what to do to reduce the size of your mortgage payments, which should hopefully help to reduce the strain on your household and allow you to get back on track without resorting to missed payments.

    The article was all about speaking up, and asking the banks for what you need. Recently there have been some big moves to increase competition in the mortgage market place, through for instance banning exit fees. This may mean your bank is more willing to reduce your interest rate:

    If your loan is with a big bank and you’re paying the advertised interest rate, you’re being ripped off. It used to be that customers who knew to ask could secure 70 basis points off that rate, but in recent competitive times, that discount has leapt to as much as 100 basis points.

    You won’t be able to get any reduction from one of the new breed of online lenders; it’s their cut-price rates that are forcing discounting elsewhere. But banks, and even some building societies and credit unions, will have wiggle room. The beauty of this information is that you could use it to make an instant saving with your lender, sparing you from having to remortgage.

    Be warned, though: getting the full 1 per cent might require a genuine threat to leave. And even then, you may have to play the ”I’m a long-term, loyal customer” card, the SMH article says.

    If this doesn’t work – the article advises threatening to leave (but beware exit fees if your loan was taken out prior to Jul 1, 2011).

    A report by the Australian Securities and Investments Commission found that more than 50 per cent of people who complained about an early-termination fee saw it reduced or waived. However, the survey of 20 lenders found fees were still levied in 75,000 cases between July 1, 2010, and February 15 last year.

    So it’s the knowledge of the deals banks are doing that will save you.

    If you are in severe financial strife which won’t be helped with a slightly reduced interest rate – then it’s time to tell put up your hand and tell your bank.

    ”No way – keep it quiet for as long as possible,” I hear you say, and I understand that rationale. But you also have to realise that your lender doesn’t want you to default. They’ll lose all that lovely interest you’ve signed up to pay, and if the situation becomes so drastic that they sell your house from under you, the price they’ll fetch will be paltry.

    The lenders will help you – with revised repayment schedules, spreading them over a fresh 25 or 30 years, and even with interest-rate discounts – because it’s in their interests to do so. What’s more, they made a commitment to the government during the GFC to go easy on borrowers in distress. And today, they’re under more political and public scrutiny than ever,” the same article said.

    How do I apply for a revised repayment schedule with my bank to avoid a default?

    Firstly, you need to make it clear to your bank that you fear if you aren’t able to restructure your home loan repayments that you will fall into arrears. If you have a situation of temporary difficulty, such as unemployment, illness, injury or other reasonable issue which would mean making repayments will be difficult, this is essential to do. You will be requesting a financial hardship variation to your repayments. This may mean your repayments are reduced accordingly and the lender may take action to stop a potential default on your credit file.

    Tips for Applying for financial hardship

    – Work out what you can afford to pay prior to requesting a hardship variation. This would involve taking the bull by the horns and doing up a serious budget on what’s coming in and what your repayments are on all of your credit accounts. Could burying your head in the sand be the main reason why you find yourself in this situation in the first place? If so, it would be a great idea to seek professional help in managing your budget for your entire future. The best place to start looking for some help would be ASIC’s MoneySmart Website. If you feel like you’ll struggle across a number of credit areas in the short term – consider requesting a reduced payment for other credit accounts as well.

    – Put your request in writing and keep a copy as a record.

    – You may need to use the actual words “financial hardship variation” for your lender to officially recognise the request, and to avoid confusion as to what you’re asking for.

    – Check your loan agreement as to the terms you entered into around financial hardship. Those agreements post-1 July 2010 have a clause which requires the lender to respond to you within 21 days.

    – Creditors are legally required to consider a person’s request for variation on payment arrangements, but are not obliged to agree to any hardship variation proposal put forward. If a lender either refuses or fails to respond to your hardship request, you can lodge a complaint with their independent dispute resolution scheme, such as the Ombudsman they are a member of.

    – Research how to apply for financial hardship. You can do this through ASIC’s MoneySmart Website, or through sites like Money Help, a website run by the Victorian State Government.

    A rethink about money

    If you have been accepted for a hardship variation – and you don’t end up with a default on your credit file, consider that you have dodged a bullet. But are you sure you won’t get into any kind of credit stress in the future? This whole episode will be worth it if you are able to learn from what’s happened. My advice on avoiding future defaults? Overhaul your finances and put in place some real changes in how you think about credit – taking a fresh look at ‘things’ ‘wants’ and ‘needs’– and making credit work for you next time instead of the other way around.  Unfortunately this doesn’t guarantee that mistakes won’t happen with your credit file, but it will guarantee that a negative credit listing won’t make its way to your credit file through any fault of your own.

    For help with disputing credit listings which you consider unfair – including where instances of financial hardship have not been recognised – contact a Credit Repair Advisor on 1300 667 218 or visit the main site www.mycra.com.au for more details on your possible suitability for credit repair.

    Image: digitalart/ www.FreeDigitalPhotos.net

    Survey statistics courtesy of Herald Sun Article: First time buyers at risk of home loss

  • What Does Your Credit File Say About You?

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    Our credit file is like a mirror on our finances. How healthy are you looking? Here’s a back to basics look at the ins and outs of taking on credit in Australia, and why it’s important to look your best when applying for credit by having a clean credit history.

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

    When you apply for credit, the lender will, after assessing your savings history, your income and your debts – order a credit check on you. This involves contacting one or more of Australia’s credit reporting agencies, to order a credit report from your credit file.

    What the lender sees on your credit file can reflect your assets, your good history, but it can also reveal your financial shortcomings. It can be a reflection of your inability to stick with something, your disregard for repayments, or the financial potholes that are sometimes impossible to climb out of. Let’s look at what a lender might see about you on your credit file, and how you can make sure it looks squeaky clean.

    Your Credit File

    Is a collation of your credit history. As soon as you become credit active, you have a file opened in your name. This file is then attached to you as long as you apply, use and unfortunately abuse credit – it will follow you everywhere in Australia.

    If you have applied to borrow money, or have established an account for services you are considered credit active.

    Every creditor inputs information about you to one or more of the credit reporting agencies in Australasia. Australia’s CRA’S include: Equifax (Formerly Veda Advantage), Dun & Bradstreet, Experian & Tasmanian Collection Services (TASCOL) if in Tasmania.

    What a credit file contains

    – Your credit file includes identity information – such as your full name, date of birth, gender, driver’s licence details, addresses and employer information.

    It also includes other information about your credit and repayment of credit history:

    -Any current active credit and details of current credit providers, for instance mortgages, personal loans and credit cards.
    – Any overdue credit accounts – these may be reported as either a ‘payment default’ or a ‘clearout’.

    How long will I have bad credit?

    Credit Reporting Body Equifax reports these time periods for holding information on your credit file:

    How long is the information held on my credit file?
    • Credit applications and enquiries and overdue accounts are held on your file for five years
    • Overdue accounts listed as a payment default are held for five years
    • Overdue accounts listed as a Clearout are held for seven years
    • Bankruptcy Act Information is held on your file for seven years (prior to January 1998, Bankruptcy Act Information was held for five years)
    • Court Judgments are held for five years
    • Writs & Summons are held for four years
    • Identity information, which includes name, date of birth, sex, drivers license, address history, and linked names (if any) are held for the life of the credit file. This information is used to distinguish the credit file from others held in the database
    • Purge dates are calculated on the date the information was added to the file, and are based on the time limits provided in the Privacy Act 1988
    • Files are scanned each month and out of date information is automatically purged to ensure the files are accurate.

    NB: Even when an overdue account or clearout has been brought up to date or paid in full, it will not be removed from your file.

    All payment default listings remain on file for five years from the date of listing. All clearout listings remain on file for seven years. The fact that an account has become overdue, and then been paid becomes part of your credit history.

    Your credit report

    As the credit file holder, you are legally able to obtain a copy of your credit report for free from all of the credit reporting agencies in Australia every 12 months – and a written copy of your credit file will be provided within 10 days from your written request.

    Every credit active person should obtain a copy of their credit report annually  – regardless of whether or not they think they have a bad credit rating. It is important that when checking your credit file, you obtain reports from all possible credit reporting agencies.

    Definition of a ‘bad’ credit rating

    If you don’t already know you have bad credit, you would be notified at the time of credit application, when the credit provider obtains a copy of your credit file.

    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 even too many credit applications are often considered to be ‘black marks’ on your credit file.

    Impact of a bad credit rating

    If you discover you have a negative listing on your credit file, you will find it very difficult to obtain mainstream credit in the future, generally for the term of the listing (5 -7 years).

    You will likely be refused a home loan with most lenders and possibly be refused credit of many kinds from credit cards to phone plans right through the term of the listing.

    Too many credit enquiries on your credit file may also stop you from getting major credit with most lenders.

    Most times the loan options available to bad credit clients are at significantly higher interest rates in order to cover the risks associated with taking on someone with bad credit.

    Can you change what is said about you on your credit report?

    It depends if the information on your credit report is accurate or not. If your address or other personal details are inaccurate, you may want to contact the credit reporting agencies to have this rectified. But you should also consider why. Do you think it’s possible that there are inconsistencies on your report? If you also have defaults or other credit listings which you feel shouldn’t be there, you should pursue the matter through making a claim with the Creditor to dispute and remove any listings which should not be there.

    Any credit listings which you feel are unfair, incorrect or just shouldn’t be there should be addressed well before you need to apply for credit. The impact of bad credit is pretty severe – and can haunt you for a long time. Spend the time to make sure everything is correct on your credit report.

    You may only get one chance at clearing your credit file – so it’s important to give yourself the best chance of having any inconsistencies removed from your report by using a professional credit repairer.

    Sometimes individuals can attempt to deal with creditors to remove the credit rating default themselves and can do more harm than good by not understanding the legislation.

    Credit repair is a lengthy process, involving the review of all documentation from an individual – including the credit file and all the circumstances surrounding the default, writ or Judgment.

    Then the credit repairer negotiates with the creditor who initiated the listing on your behalf to remove the default.
    This can also often involve lengthy requests and submissions of documentation until an agreement is reached by the creditor and the repairer to remove the offending black mark.

    Not every credit file is suitable for credit repair. The credit repair company can review your situation and determine whether your case is worthy of pursuing.

    For advice about whether your adverse listing may be suitable for credit repair, contact a Credit Repair Advisor on 1300 667 218 or visit our website for more information www.mycralawyers.com.au.

    Once your credit file is restored and your bad credit is removed, you will be looking great to the lender, and ultimately feeling great when you have access to the best credit you can, at the best rates.

    Image: Stuart Miles/ www.FreeDigitalPhotos.net

    Image 2: imagerymajestic/ www.FreeDigitalPhotos.net

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  • New Credit Laws Pass House of Representatives

    Australia’s new Privacy Laws, which include a credit reporting law overhaul are coming to fruition. Amendments to the Privacy Act 1988 passed through the House of Representatives yesterday. What will this mean for you, your credit file and will it make it easier to remove bad credit?

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

    The Attorney-General announced late yesterday that the House of Representatives had passed reforms to the Privacy Act 1988. The Privacy Amendment (Enhancing Privacy Protection) Bill 2012 – which includes major amendments to Australia’s credit reporting laws –will now be introduced in the Senate where it is currently being considered by the Senate Legal and Constitutional Affairs Legislation Committee. The Government may make further amendments in the Senate in response to the Senate Legal and Constitutional Committee’s report, which is due to report shortly.

    “The House Committee has found that the reforms should be passed in their current form and the Government has moved quickly to implement those wishes,” Attorney-General Nicola Roxon said in a statement to the media yesterday.

    Ms Roxon says the reforms will focus on giving power back to consumers over how organisations use their personal information. The power will be extended to consumers in the area of credit reporting.

    “These changes will also provide much more power to consumers to be able to access and, if necessary, correct their credit reports,” Ms Roxon said.

    Through the reforms the powers of the Privacy Commissioner’s will also be enhanced to improve the Commissioner’s ability to resolve complaints, conduct investigations and promote privacy compliance. For example, the Commissioner will also be able to apply to the court for a civil penalty order against organisations for credit reporting breaches. Penalties for an individual range $2,200 to $220,000 and for a company they range from $110,000 to $1.1 million.

    We welcome the changes in the area of credit file correction. The new laws will most importantly enable consumers to force their Creditor to justify a disputed listing; and give consequences for credit reporting breaches. This is important in correcting credit listing complaints.

    Whilst the changes should make a positive difference in ease of correction, what can make or break a credit listing complaint – is the individual’s knowledge of credit reporting law. In order to make a successful complaint to justify removing a credit listing, the individual must show that the Creditor has unlawfully listed it. The complainant must also be able to give evidence to show how that occurred, which means providing supporting documentation from the Creditor– which can also be difficult for the individual to obtain. Then there’s marrying the two together. Then, there’s negotiating with the Creditor.

    All of these aspects of disputing a credit listing could still see a valid complaint come unstuck if not performed correctly.

    In addition to this, there are a myriad of reasons why a credit listing may be unlawful which are not immediately evident by the individual. Creditors can and do make mistakes with credit reporting. They don’t give the right notification to the consumer; they don’t give them adequate time to remedy the arrears; they don’t update contact details for the client; they don’t get the account right in the first place.

    So it will still give you the best chance of having a disputed credit listing fall in your favour if you open your options, solidify your case, and have the matter handled by a professional credit repairer. But it will be important to choose the right kind of credit repair and make sure you’re looked after each step of the way. Visit our main site for more details www.mycra.com.au or contact a Credit Repair Advisor on 1300 667 218.

    Image: Salvatore Vuono/ www.FreeDigitalPhotos.net

  • Bill shock, power disconnected…just the tip of the iceberg for energy complaints

    Power bills are reported to be so high that more people are getting their electricity disconnected because they just can’t afford to pay their bills. This in turn is leading to credit file defaults. We look at why this might be occurring and look at the other energy customer complaints such as lack of notification of arrears which has led to more energy credit defaults, and more customer complaints about this industry. We believe the energy industry is overdue for some attention by regulators to stop the rising power prices and possibly a public inquiry into energy issues similar to what we had with the telecommunications industry.

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

    I read a shocking story in Adelaide Now today, titled Thousands going without power as electricity bill defaults skyrocket.  It tells how the number of people in South Australia who have had their power disconnected is at a decade high– a 38% spike in disconnections. Here is an excerpt from that story:

    MORE than 10,000 households had their power disconnected after failing to pay their bills – the highest cut-off rate in almost a decade.

    Figures released by the industry regulator yesterday showed that 10,100 homes lost power in the 12 months to July, compared to 7300 the previous financial year.

    Soaring power prices are being blamed for this 38 per cent spike in disconnections, with welfare groups reporting those on fixed incomes suffering the most – including one man who had to resort to cooking his meals over a wood fire in his back-yard for six months after being disconnected.

    Welfare agency Anglicare said it had reports of disconnected households commonly using candles for lighting, heating rooms with  barbecues – and keeping perishables such as milk and butter in Eskies.

    Retailers are being asked by the Essential Services Commission of SA to be more flexible when dealing with “consumers experiencing genuine financial hardship”, because it is essential they have “continued access to energy”.

    The number of reconnections is only about a third of the number of disconnections recorded in 2011/12, the figures show.

    Further to this issue of 10,000 customers having their power disconnected because they just can’t pay their bills, is the other issue of questionable tactics by power companies when it comes to issuing defaults for unpaid or late accounts.

    One of biggest issue with our energy credit repair clients is that many had not receive the any notice that they were in arrears prior to the energy company adding the default to their credit file. So in effect, the clients believe they have had no time to remedy the outstanding account prior to being issued with the default. This happens time and again with energy clients – despite many saying they had provided a forwarding address for any outstanding accounts to their energy provider if they have moved.

    The energy company, when questioned claims to not have the forwarding address. At other times, they say they have provided notification to the client – but the client has not received it.

    Who is right? It becomes a big he-said she-said! If individuals attempt to fight their case on their own – what chance do they have? Without the right skills for negotiating or access to and knowledge of legislation many wind up having to live with the default on their credit file even if they believe they shouldn’t be there. This means they are blacklisted from credit for 5 years.

    Many experts are calling for a public inquiry into the energy industry. This we believe is long overdue.

    In the meantime, energy customers will continue to face soaring prices in many States of Australia, and confusion over crippling defaults that may or may not be valid.

    If you have an energy default, writ or Judgment that you need help in disputing, contact a Credit Repair Advisor at MyCRA for help and to assess your suitability 1300 667 218 or visit our main site for more information www.mycra.com.au.

    Image: vorakorn/ www.FreeDigitalPhotos.net

  • Are you spending more than you earn? You’re not alone….

    It was reported yesterday that one in seven households in Australia is on ‘struggle street’ – spending more than it earns. It seems many Australians are living on credit, including some of our richest. We look at the concept of living on credit, and how existing this way can not only put pressure on the household, but when it all catches up and you are lumbered with bad credit history – threaten the family’s ability to get the best credit at the best rates for years to come. We look at how you get there, why you want to avoid it, and what to do about it.

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

    News.com.au featured some interesting statistics put out by the ABS yesterday in its article ‘Aussie strugglers living beyond means’:

    “One in seven Australian households is spending more than it earns, as the working poor struggle with monster mortgages and surging power bills.

    Nearly 8 per cent of the nation’s richest households were living on credit, the Australian Bureau of Statistics reported yesterday.

    Of the top 20 per cent of households earning the most money, 3 per cent could not afford to pay a gas, electricity or phone bill on time during 2009-10.

    Of the poorest 20 per cent of households, one in five could not pay their bills on time and one in four spent more than they earned.”

    Living this way is living dangerously. Often you are said to be robbing Peter to pay Paul. But if something goes wrong, you can run a real risk of getting into arrears. If your accounts fall 60 days behind, then your Creditor will place a default on your credit file – and this will impact you and your family for years and years to come. You will be banned from mainstream credit. The credit you do buy after that will be at a pretty high price. You may not even be able to get a mobile phone on a plan.

    How did we get here?

    Sure petrol prices are ridiculous, and grocery bills seemed to rise no end, and then there are reports out there that people have had to use bbq’s and eskies because they can’t pay their power bill – but the average person can afford these essentials. It’s the luxuries we have issues with – and what we consider to be luxuries and essentials today may have something to do with it.

    A while back, I blogged about the concept of “Affluenza” an idea put out there by Australians Clive Hamilton and Richard Denniss’ in their book, Affluenza: When Too Much is Never Enough.

    Affluenza is a disease of the 21st Century that can make us sick, and it can make our credit file sick with it –pulling us into a crazy cycle of spending and debt. Many of us are struggling to stay happy under a pile of ‘things’ and a pile of debt.

    It is the disease of consumerism and it is being fuelled by big corporations urging us to buy more, persuading us with clever advertising aimed at selling to our emotions. It drives us to work crazy hours leaving no time for ourselves and our families. It drives up the mental health problems, the suicide rates, the divorce rates, the drug addictions, fraud, the stress related health problems – all these things seem to be a curse of living in the 21st Century in the Western world.

    Here is an excerpt from that book:

    “Our houses are bigger than ever, but our families are smaller. Our kids go to the best schools we can afford, but we hardly see them. We’ve got more money to spend, yet we’re further in debt than ever before. What is going on?

    The Western world is in the grip of a consumption binge that is unique in human history. We aspire to the lifestyles of the rich and famous at the cost of family, friends and personal fulfilment. Rates of stress, depression and obesity are up as we wrestle with the emptiness and endless disappointments of the consumer life.

    When I read yesterday that one in seven of us are still living on borrowed money, it makes me realise that not enough Australians understand the power of credit. It is a great concept, but as long as we make it work for us. We should use it to enhance our lives so that we can spend time with the ones we love, or to really improve our quality of life. Not make ourselves slaves to it.

    Maybe we throw that long sought after holiday on the credit card and take the family away? Or take out repayments on an educational course that will change our working lives forever? Or perhaps we do buy a home, but after years of good saving. One that fits all the requirements of what we need, rather than what we want. A home we don’t have to work 24/7 to pay off because it is priced within our means.

    What we shouldn’t do is spend money we don’t have, on things we don’t need, and ultimately find ourselves with what we don’t want – debt, unhappiness and a bad credit history.

    What does your credit file say about you?

    We should think of our credit file as a mirror on our finances. It can reflect our assets, our good history, but it can also reveal our financial shortcomings. It can be a reflection of our inability to stick with something, our disregard for repayments and it shows the financial potholes we fall into that are sometimes impossible to climb out of.

    A bad credit rating can completely change our financial situation. The black marks placed there by creditors show up on our credit file for 5 years. Bad credit can limit our choices and can perpetuate the debt cycle by leading us to choose loans with higher interest rates and more fees, so the struggle to make repayments can be even harder.

    If we want to try and start again with credit, it may be possible to wipe the slate clean, particularly if our bad credit rating should not be there.  Firstly, we can obtain a free copy of our credit report from one or more of the credit reporting agencies, Veda Advantage, Dun & Bradstreet and Tasmanian Collection Services (TASCOL). If after checking our credit file we find inconsistencies, we may be a good candidate for credit repair.

    A credit repairer can work with creditors on our behalf to completely clear our credit file of all defaults, clear-outs, writs and Judgments which contain errors, are unjust or just should not be there. This means we no longer have a bad credit rating, but a completely clear credit file, giving us the financial freedom to use credit whenever we need to.

    The rest is up to us.

    Contact a credit repair advisor on 1300 667 218 for more information on repairing bad credit, or visit our main site www.mycra.com.au.

    Image: hin255/ www.FreeDigitalPhotos.net

     

     

  • The 7 worst mistakes you can make with credit which can lead to defaults

    What are some of the big mistakes made with credit which could lead you into battling debt and having creditors sending letters of demand and listing defaults on your credit file? We look at the 7 mistakes with credit that could increase your changes of getting bad credit history.

    By Graham Doessel, Founder and CEO of MyCRA Credit Rating Repairs.

    1. Leaving no room for emergencies

    Borrow within your budget. If you have a revolving line of credit or use credit cards you will need to be disciplined. Consider what you can afford and try to live frugally, rather than spending right up to your credit limit. It’s important to realise that you will pay at some point for the credit you use. If you are consistently struggling to make your repayments – then it’s time to take stock of things. Many people get into trouble with their repayments and end up with defaults on their credit file because – well – life happens and they haven’t left any room in their repayments for saving or for emergency funds. Try to separate wants from needs when you borrow.

    2. Thinking you need a large credit limit

    Ignore what the card company or bank sets for your limit – what can you comfortably afford to repay? If you intend to apply for further significant credit in the future, you will need to consider that a lower credit limit looks better to a prospective lender – so if you don’t need it – consider reducing it.

    3. Redrawing on your loan

    If you have a redraw facility on your loan – the temptation can be high to borrow against it. But you should tread carefully here. Remember you are going to be paying interest on this money – you may be better to just save it from your wages. Credit cards can also offer cash advances, but do bear in mind the interest charges on this money are exorbitant. Cash advances are a common way people can blow out their credit card debt to epic proportions leaving them no way to pay, and with defaults which destroy their ability to get new credit for 5 to 7 years.

    4. Choosing the wrong kind of credit

    Make sure your credit suits you. Make it work for you, not the other way around. What kind of payer are you? What do you need the credit for? There’s no point getting a line of credit if you are the big-spender type – you are certain to get into trouble. These types of facilities only work if you are disciplined with your spending. When you choose a credit card – consider what you need it for. If you are going to use it a lot – perhaps the rewards points could be a deciding factor. But if you are only going to use it sporadically – maybe the annual fees should be more important.

    The same goes for any big ticket item you purchase using credit – like houses and cars. What does it need to do for you? What can you actually afford? How long will you need it for? Remember a car always depreciates in value. And whilst houses can make you money in the right market, and possibly a 4 bedroom ensuite home might be a good long term investment – can you actually afford to live comfortably with this debt? If you need to go down to one income at some point – how will your repayments look then? It can cost you thousands in agent’s commission, stamp duty and legal fees to sell if you decide you have bitten off more than you can chew after you move in. Or if you default on your repayments you will probably be unable to borrow for years to come – so choose wisely.

    5. Repaying only the minimum amount

    On credit cards, you should pay off the entire credit card balance within the interest free period to avoid the high interest charges. If you don’t, you will be charged interest right back to the date you purchased each item. You not only lose the interest-free period on those past purchases, but until you pay off the balance there will be no interest free period on anything you spend in the future. This can see some people come unstuck and their credit card debts can snowball with interest until they reach the point where they are unable to pay and begin to get into arrears.

    You can find low interest credit cards, but it is still advisable to pay more than the minimum repayment amount each month. If you have debt which carries over on your card month to month you should look at a card that has a lower interest rate. There may not be as many ‘perks’, but the lower interest rate should mean the carried over debt is more manageable for you, and will prevent possible bad credit history.

    Likewise on any other type of loan that you actually want to pay off – paying the minimum amount will not get you there. You will need to pay a significant amount more to start paying into the principle – especially in the early days of the loan.

    6. Not Checking Statements

    You should check that your credit and debit card statements are correct every month – and query anything you’re not sure about. Maybe you were charged twice for an item, or charged too much. It is a good way to be alerted early to identity theft as well. You should also check your bank account statements in the same way.

    Checking your statements will also allow you to get a good handle on just where you’re spending too much and allow you to adjust your spending next month to compensate.

    7. Not Checking Your Credit Report

    Most people don’t know that every year they are able to request a copy of their credit report for free from Australia’s credit reporting agencies. This report is important, because it shows you how you will be viewed by lenders if you ever apply for a loan. You should check that all of your personal details are correct. You should check the credit enquiries are valid (id theft risk). You should also check to see whether you have any negative entries against your name. Defaults, Clear-outs, Judgments, Writs can all mean you will be refused credit if you apply.

    If you don’t believe the credit listing should be there, if you didn’t know about it or you think there might be a mistake, then the worst thing you can do is leave it there. It will mean you are locked out of mainstream credit for between 5 and 7 years – depending on the listing type. It will often mean you are told by Creditors and the agencies that the bad credit is there to stay for the term – it can’t be removed. But this may not be true.

    For professional advice on how to tackle Creditors and the credit reporting agencies about a listing which should not be there, a credit repairer will be able to determine whether your circumstances would allow for repairing the credit rating and actually negotiating the removal of the bad credit history from your credit file.

    If you want to see what is said about you on your credit file, you can contact MyCRA Credit Rating Repiars to request a free copy of your credit report. We can also help to repair bad credit history, or give you more information on your credit rating. Visit our website www.mycra.com.au or call MyCRA Credit Rating Repairs tollfree on 1300 667 218 for more details.

    Image 1: adamr/ www.FreeDigitalPhotos.net

    Image 2: David Castillo Dominici/ www.FreeDigitalPhotos.net

     

  • Is Your Tax Refund Safe? Identity Theft Warning for Taxpayers

    Identity theftAt tax time, there are some things you need to know about to protect your identity from criminals. We look at the two most common types of identity fraud associated with tax refunds, and look at what you can do to ensure you don’t lose your refund, or become an identity theft statistic with a bad credit rating that will be a nightmare to recover from.

    By Graham Doessel, Founder and Chief Executive Officer of MyCRA Lawyers

    Criminals Lodging Fraudulent Tax Claims

    There have been reports over recent years of Australians unable to lodge their own tax return, because they have found that one has already been lodged in their name. Fraudsters have been able to canvas the tax file number and personal details such as full name, address and date of birth of the individual, and have lodged a claim in their victim’s name, pilfering the return before the victim has even thought about putting their tax in. These people are also vulnerable to bad credit through identity theft – if fraudsters take out credit in the victim’s name as well.

    It was reported in Ninemsn yesterday that the Australian Taxation Office (ATO) blocked payments worth $40 million last year that would have gone to criminals. This represents more than double the revenue the tax office protected the previous year in identity crime-related cases – with the reported interception of 8,000 fraudulent tax claims.

    But officials tell Ninemsn they have little idea how much money they lose to identity thieves who con them into actually paying out on fraudulent returns. Last year it was reported in The Telegraph that in the previous financial year the number of stolen tax file numbers suspected of use in identity fraud topped 31,200 – from 12,669 the previous year.

    How do criminals get your tax file number?

    The ATO recently sent out a media release warning about the recent surge in fake job adverts over the internet asking prospective employees to provide their tax file numbers as part of a job application or once they are made an offer of employment, which is later withdrawn.

    Ninemsn also reports temporary visa holders such as foreign students are offered cash for the tax file numbers they will no longer need once they leave Australia.

    They also say sometimes rogue tax agents are involved.

    “People are trusting people they shouldn’t,” Greg Williams, a deputy commissioner in the ATO’s compliance division told Ninemsn.

    People who share the same name and birthday are also in the “at risk” category.

    But Ninemsn reports, the reasons go deeper:

    “… Brett Warfield, a forensic accountant and fraud specialist at Warfield & Associates, said the biggest threat comes from organised crime groups lifting wholesale identity and salary information on employees from private firms or government bodies, either by hacking into company databases or convincing insiders to leak it.

    They then use this pilfered data to lodge hundreds of forged submissions with the ATO, he said.

    “They tend to submit the tax returns fairly quickly after the end of June to beat the real taxpayer,” said Mr Warfield.

    He added that crime gangs still have to outsmart the ATO’s sophisticated fraud risk filters, which cross-check claims against data such as previous entries on income and expenses, mailing addresses and bank account details for wiring refunds.

    But when ninemsn used freedom-of-information laws to find out how many such fraudulent returns the ATO fails to intercept, it admitted it does not measure or even estimate its losses.

    This is despite increases in funding to detect fraud as well as criticism from the Commonwealth Ombudsman that the ATO fails to investigate or attempt to recover funds in cases of identity theft where losses were deemed “relatively small”.

    An ATO spokeswoman said its focus is on detecting fraudulent claims before refunds are paid out — a strategy they say is more effective than trying to recoup sham refunds that have already been issued.

    What to do if someone has made a fraudulent claim on your tax refund

    Contact the ATO immediately. Last year the ATO established a “client identity support centre” to assist people whose identities were stolen. You could also contact and make a formal complaint to the Commonwealth Taxation Ombudsman if you are unable to come to a solution or been able to lodge your correct refund.

    Considering the very important personal information these fraudsters have for you, you should order a copy of your credit file as soon as possible. Check it carefully to make sure there have been no attempts, nor successes in obtaining credit in your name. Notify Police if you find anything strange on your credit file – look for address changes, credit enquiries you didn’t make, and credit accounts.

    If criminals have been able to take out credit in your name, it will mean you may have incurred some repayments in arrears and Creditors could be in the process of adding a default or other negative listing to your credit file, even if it doesn’t show up as such right away. You should contact those Creditors as soon as possible to advise them of the identity theft.

    For tax crime, which is a Commonwealth indictable offence, Police may advise you that as an identity theft victim, you could be eligible to apply for a Victims of Commonwealth Identity Crime Certificate – which can go a long way in helping to prove you didn’t initiate any credit taken out in your name. This could mean you would be able to recover your ability to obtain credit in your own right and could help with debts that have been incurred in your name.

    Fake tax refund scams

    On the other side of the coin, if you have been able to successfully lodge your tax return with the ATO, beware of fake emails claiming to be from the ATO asking for confirmation of personal details in order to send your refund to you – or for you to claim your refund.

    Here’s what one of these emails might look like, but they take many different forms (picture courtesy of ATO Online Security webpage):

     

    scamWhat you should do if you receive an email like this

    The ATO advises it will never email you asking for personal or credit card details and you should never provide this information.

    One version of this scam contains an attachment infected with a virus. This email purports to be from the ATO and asks for the recipient to complete the attached form to receive a tax refund. There is zip file attached to the message that contains a malicious program. If you receive an email like this, do not open the attachment.

    Under no circumstances should you give personal information including credit card or banking details. Anyone who has received a suspicious phone call or email should contact the ATO immediately.

    A good way to stay ahead of scams and other ways your identity and credit file could be at risk, is to sign up to the Government’s Stay Smart Online alert service, which will inform you of new scams as they unfold, and hopefully prevent you from becoming a victim, losing money and incurring debt and bad credit as a result.

    To get a free copy of your credit file, or if you need help to recover your clean credit file after identity theft – we might be able to help. Contact a credit repair advisor on 1300 667 218 or visit our main site for more details www.mycralawyers.com.au.

    Image: Arvind Balaraman/ www.FreeDigitalPhotos.net