Credit Repair Case Studies

What Should My Credit Score Be?

Clients often ask us what their credit should be in order qualify for finance. In order to answer this question it’s important to understand the basics of credit scoring.

A credit score is displayed on a Veda Advantage Credit Report and represents the risk profile of an applicant to a potential credit provider. Other than a bankruptcy or formal debt agreement, the lowest credit score is -200 with the highest being 1200. The lower the score, the higher the risk is considered to be by a credit provider.

Typically a credit provider will look at three things on a credit report when assessing an applicant’s risk profile:

  • The credit score
  • Past credit applications/enquiries
  • Negative listings such as defaults etc.

WHAT OUR CLIENTS SAY

  • “I needed a small working capital local to sustain my small Business but the banks wouldn’t take me on due to my low Credit score. These guys just said no problem! It was a done deal.”

    Owen, NSW
  • “Clean credit have successfully removed listed defaults from my Credit File, couldn’t be happier. Very professional and explained everything with clarity. I would highly recommend them to anyone.”

    Grant
  • “Morning Jamil,

    Hope you’re doing well and had a nice weekend.

    It’s such great news to hear that (credit score jumped from 274 to 629). It’s amazing that you guys still managed to get it sorted in a short period of time.

    Thanks very much.”

    Jia
  • “Lachlan was great! He worked quickly and kept me up to date! I will definitely be recommending Lachlan and the team at Clean Credit to my friends and family.”

    Jade, QLD
  • “You have really relieved a lot of stress, thank you so much. I know a lot of work and time went into this and it is most appreciated.”

    Shane, VIC
  • “Ed, Really appreciate all your work mate. Will recommend you to lots of people. Very good man, well worth the money. Thank you very much. ~Ben”

    Ben, WA

While credit scoring has been in existence for some time in other parts of the world, such as the United States and Europe, it’s a relatively new concept in Australia. The idea behind a credit score is quite simple; it is designed to provide a credit provider with a tool to quickly assess risk.

Many credit providers set an automated credit system, meaning that once a credit score drops below a certain level the credit provider will consider the risk too high and most likely decline the application. Unfortunately it is the negative listing itself that credit providers react to, so regardless of who listed the default, the amount, or even if it has been paid, the answer remains the same – “declined”.

Case Studies

While a score of 600 or more does not guarantee credit will be approved, it’s clear that a credit score under 600 will most definitely represent a real problem for people trying to gain finance approval.

Effective credit repair has the potential to change people’s financial future, as when a negative listing is removed from a credit file, the credit score instantly improves as if the listing never existed.

With this in mind let’s take a look at some real life case studies of how Clean Credit has helped people regain their credit score and reaffirm their financial independence.