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

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

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

So, what makes a good Credit Rating Repair Company?

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

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

Transparency

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

History

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

Expectations

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

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

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

The main message here is:

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

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

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