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Transition to Retirement – What it Means and Involves
Credit File & Report

Transition to Retirement – What it Means and Involves

Retirement and pension age for Australians began a little over a hundred years ago and has been evolving every since. It used to be that retirement age was far past the average life span of a worker and that when a person did reach the age where they could transition to retirement, they were expected not to work at all and just rest for the remainder of their lives.

Gen Y Worried About Their Financial Future
Credit Rating & Score

Gen Y Worried About Their Financial Future

Younger generations are not generally known for being financially responsible but Generation Y or Gen Y might be a generation that is the exception to the rule.

Avoiding Bad Credit – Lessons for the Younger Generation
Credit File & Report

Avoiding Bad Credit – Lessons for the Younger Generation

Endless money supply is everyone’s dream solution to bad credit. How we wish that money grows on trees and with no effort at all we would all be rich. But that would also mean the devaluation of money, it would be equal to nothing more than a piece of paper.

There have been a lot of changes to credit reporting over the last 18 months. While many of these changes have been welcomed
Credit File & Report

Can Repayment Information Affect My Credit File?

There have been a lot of changes to credit reporting over the last 18 months. While many of these changes have been welcomed, one has remained a point of controversy and is the subject of much talk and misunderstanding. That is the recording of loan repayment histories on credit files.

Know all facts on credit cards before signing up
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Know all facts on credit cards before signing up

If you have ever used credit cards then you will undoubtedly know that the interest rates they charge on purchases are high, very high in fact. But they have actually been lowered recently. The most recent average rate on low-rate cards has gone from 13.2% to 12.95%.

Fix Bad Credit Rating For A Clean Credit Score
Credit Rating & Score

Fix Bad Credit Rating For A Clean Credit Score

Bad marks on a person’s credit history can be there for years and can possibly hurt their chances at getting a loan on a car or increase their rates for a mortgage on a house.

Can Credit Repair Companies Really Fix Your Credit?
Credit Restoration

Can Credit Repair Companies Really Fix Your Credit?

In Australia, one in 10 individuals currently struggle with less than perfect credit. Whether it is due to missed payments in the past or taking on too many debt obligations in a short period of time, bad credit can be a challenge to overcome and can make the process of repairing a marked credit file a daunting task.

Comment: Positive Credit Reporting For My Credit File
Credit File & Report

Comment: Positive Credit Reporting For My Credit File

In 2015 Australia will begin a new system of credit reporting that will benefit those who have good credit behavior. Before it was only bad credit behavior that was reported and it would outweigh any good behavior that was not being reported on my credit file.

How Does Comprehensive Credit Reporting Affect Me?
Credit File & Report

How Does Comprehensive Credit Reporting Affect Me?

Historically, Australia has operated under a negative credit reporting system for the purpose of assessing financial and credit worthiness. This meant that an individual’s credit report only included information such as past credit enquiries, delinquencies and other major and minor financial infringements.

Get Your Budget Under Control to Stop Credit Defaults
Credit Rating & Score

Get Your Budget Under Control to Stop Credit Defaults

Getting carried away over the Christmas period is common with many people spending more than they had expected to. Christmas debts combined with the usual household expenses can make managing finances tough and left unchecked can even lead to a damaged credit file.

Regular Checks On Your Credit Report Can Help You Save Money
Credit File & Report

Regularly Check Your Credit Report To Save Money

Despite how important an individual’s credit report may be, the majority of Australians have never checked their report. Not knowing what your credit report holds can lead to paying higher interest rates on credit cards and loan accounts, and can impede your chances of getting an affordable home loan.

Don’t turn Christmas cheer into Christmas heartache!
Credit Restoration

Don’t turn Christmas cheer into Christmas heartache!

Christmas can be an expensive time of the year and it’s all too easy to spend more than you planned to. Many people start the New Year with bills they are unable to pay and this reality quickly replaces the joy of Christmas with a feeling of worry and regret.

High Credit Card Debt Means Credit Scores Suffer!
Credit Restoration

High Credit Card Debt Means Credit Scores Suffer!

There are a number of aspects that can negatively affect your credit score, including being late on repayments, having too many enquiries in a short period of time, and carrying too much credit card debt.

Can I Still Fix My Credit File?
Credit File & Report

Can I Still Fix My Credit File?

There have been a number of changes to credit reporting legislation recently.  Many of these changes are in my opinion positive and were well overdue.  For the most part they have been welcomed by credit providers and the general public but having said this, change is never easy and reform with credit reporting has generated its fair share of uncertainly and controversy.

Are The New Credit Reporting Laws Working?
Credit File & Report

Are The Credit Reporting Laws Working?

It has now been a number of months since Veda Advantage implemented changes to credit reporting, the question is are these changes proving to be positive?

Credit Repair and Credit Reporting Agencies
Credit File & Report

Credit Repair and Credit Reporting Agencies

Improving your credit score has tremendous implications for all areas of your life. A poor credit score can lower your chances of obtaining finance, but remember that this is not a dead end situation.

My Credit File: A Life-Long Investment
Credit File & Report

My Credit File: A Life-Long Investment

Many people may wonder, “how important is my credit file?” Your credit file is among the first documents that most lender goes through before approving loans or credit. Your credit file will contain your credit score.

Managing Your Credit Cards: Just How Many Is Too Many?
Credit Restoration

Managing Your Credit Cards: Just How Many Is Too Many?

Credit cards have become more of a necessity than a luxury today for many Australians. They can be used for nearly all financial transactions and can help you build your credit rating, which can improve your chances of being approved for loans.

How a Clean Credit Rating Pays Off
Credit Rating & Score

How a Clean Credit Rating Pays Off

A clean credit rating is what every earning person desires. Being able to spend the money you make while obtaining easy credit allows you to enjoy life the way you want

Credit Providers Not Helping Their Clients
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Credit Providers Not Helping Their Clients

It never fails to surprise me how unreasonable some credit providers can be when a client is experiencing financial hardship. What is very disappointing is how many people end up with negative credit listing such as payment default when they have already told the credit provider they are having financial trouble.

Financial Hardship and Credit Repair
Credit Restoration

Financial Hardship and Credit Repair

There has been significant changes to the laws surrounding financial hardship over the past twelve months. These laws talk about a credit providers legal obligation to assist a client that is experiencing financial difficulties.

Will All Credit Providers Get Benefit From The New Credit Reporting Changes ?
Credit File & Report

Will All Credit Providers Get Benefit From The New Credit Reporting Changes ?

There has been many changes to the credit reporting platform recently. One of a largest being the provision for a lot more information to be contained in a person’s credit file. Prior to these changes a credit file had little information for a credit provider to base a decision on if to approve or decline an application.

A Rethink On The Recording Of Late Payments.
Credit File & Report

A Rethink On The Recording Of Late Payments.

I am happy to announce there has been a rethink on the recording of late payments on a credit file. As you may be aware, there has been significant changes to Australia’s credit reporting platform recently.

Can Late Payments Lead To Credit Declines?
Credit Rating & Score

Can Late Payments Lead To Credit Declines?

The new credit reporting laws are set to take affect this month. There are a number of changes taking place however none more controversial that the ability for a credit provider to record a late payment on a person’s credit file if an account is as little as five days overdue.

The Truth About Credit Repair.
Credit Restoration

The Truth About Credit Repair.

There seems to be a lot of people making claims about the credit repair industry lately. Various government bodies such as the Australian Securities and Investment Commission are looking very closely at credit repair companies and it would seem only a matter of time until the industry becomes regulated.

Effective Credit Repair
Credit Restoration

Effective Credit Repair

Effective credit repair is often all about identifying faults and errors with the process a credit provider followed prior to listing a negative credit listing such as a payment default. The key is understanding the laws around credit reporting and comparing the process a credit provider followed with what they were legally required to do.

Responsible lending and credit repair
Credit Restoration

Responsible Lending And Credit Repair

In many of these cases it is alarming how much unsecured debt some people have and how the payments on these debts often are well in excess of their income. While it is true that people need to be responsible for their own actions, I feel how this debt was originally approved also needs to be considered.

The Importance of Demand Notices.
Credit File & Report

The Importance of Demand Notices.

One the most important documents when researching a default listing is the demand notice. A credit provider must provide a correctly structured demand notice to the borrower prior to listing a negative credit listing with a credit reporting agency.

Credit providers charging for production documents
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Credit providers charging for production documents.

One of the first steps in helping people to restore their credit ratings is to conduct an investigation into the process the credit provider followed prior to listing the default. There is much a credit provider must comply with before they are legally able to enter a default against someone.

Tips to avoid credit file issues in the future
Credit File & Report

Tips to avoid credit file issues in the future

Always communicate with the credit provider. If you have fallen on hard times and are struggling to manage all your bills – call the credit provider and explain the situation.

Making sense of credit scoring.
Credit Rating & Score

Making sense of credit scoring.

You are no doubt aware that Equifax is now including credit scores for consumers; this information was previously only available to credit providers.

Unfair Changes In New Credit Regime
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Unfair Changes In New Credit Regime

Clean Credit was recently featured on Channel 7’s Today Tonight; the topic was some of the proposed changes to credit reporting laws.Since this story went

Credit Repair Q & A
Credit Restoration

Credit Repair Q & A

Here are some of the most frequently asked questions regarding credit repair. Q. How does credit repair work? A. In the case of a default

Credit repair can change lives
Credit Restoration

Credit repair can change lives

While the credit repair industry is under siege from the media I wanted to share a story that shows what effective credit repair can do for people.