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Category: Credit Rating & Score

Your Partner’s Credit Rating Can Affect You
Credit Rating & Score

Your Partners Credit Rating Can Effect You

Picture this: Just like most Aussies out there, a Sydneysider was looking forward to the idea of getting married, and purchasing her dream home with her fiancé.

||Failing to Repay Debts||
Credit Rating & Score

Failing to Repay Debts

Debts can be stressful. No one wants to be stuck in a position where repayments become a problem.

Risky Direct Debit – How to Avoid It
Credit Rating & Score

Risky Direct Debit – How to Avoid It

Nowadays, more and more Australians prefer automated payments, so that direct debit is becoming very popular. Even though they are not new, the risks of this type of debit have increased during recent years.

Amending Credit Rating for Future Finances
Credit Rating & Score

Amending Credit Rating for Future Finances

In case your crediting rating is not in the best shape, there are certain methods that you can do to be able to fix it. Why is there a need to amend your credit rating? When you are young, you spend without giving it a second thought.

Avoiding Bad Credit History Reports
Credit Rating & Score

Avoiding Bad Credit History Reports

Having a bad credit history can affect your future loan applications. If you have any intentions or plans to get a loan in the future, you might have a hard time convincing banks or any other private lenders to approve your loan.

The online investment game
Credit Rating & Score

The Online Investment Game

What type of investment suits you best? Are you in search of an investment that you can easily access with your fingertips?

Personal Loans – Important Facts
Credit Rating & Score

Personal Loans – Important Facts

Personal loans are designed to provide financing services to those who need immediate cash. People have different needs; purchasing a second car for some may be a form of luxury but for others it is a necessity.

Free Credit Score – Will it be a security risk?
Credit Rating & Score

Free Credit Score – Will it be a security risk?

There are many ways to check your credit score. Most people only ever get around to having a credit check whenever they are considering taking out a mortgage to buy a home or to get a loan on a new car.

Improve your Credit Score with Debt Consolidation
Credit Rating & Score

Improve your Credit Score with Debt Consolidation

Debt consolidation is one way to manage or organize your debts which probably includes credit card debt, car loan, home loan, educational loan, personal loan and other types of loans that you have engaged in.

How to Clear my Debt as Soon as Possible
Credit File & Report

How to Clear my Debt as Soon as Possible

I often say this to myself, “I want to clear my debt” but I noticed that I find myself borrowing again just to be able to pay my existing loans. I’ve been thinking about how I can clear my debt as soon as possible.

Budgeting Tips for Social Outings
Credit Rating & Score

Budgeting Tips for Social Outings

Going out often can drain your wallet. If you are trying to save up for a down payment on a home, pay off mounting debt or just so you can put more cash in to your savings account, it can be a daily struggle. Being a social person can cost a lot

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.

Opt for a clear credit history – Get rid of credit card debt
Credit Rating & Score

Opt for a clear credit history – Get rid of credit card debt

Having a good credit history is very important. Long before you consider buying a home or making another big purchase you need to consider your credit history and how that can affect your ability to get a loan at a good interest rate.

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.

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.

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

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.

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.

What should my credit score be ?
Credit Rating & Score

What should my credit score be ?

Clients often ask us about credit scores and what a credit score needs to be in order to secure finance.  This is a difficult question as every credit provider has their own thoughts and policies with regard to lending guidelines.

Statutes Of Limitations And Credit Repair
Credit File & Report

Statutes Of Limitations And Credit Repair

While many people know that a payment default is listed in a credit report for a five year period, few know that a credit provider can record these events sometimes years after the account fell into arrears.

Credit Repair
Credit File & Report

Credit Repair, Reform Is On The Way.

Unfortunately like many industries credit repair has its fair share of questionable operators and as is often the way, the entire industry is often judged on the practices of a small group.  The dishonest conduct exercised by some has caught the attention of the Australian Securities & Investment Commission ASIC and it would appear that regulation may not be far away.

What Types of Default Listings are There?
Credit File & Report

What Types of Default Listings are There?

At Clean Credit we see two common types of default listings appearing on our clients’ credit files. These are a ‘payment default’ and a ‘clearout’ or ‘serious credit infringement’. Here is some valuable information about what these listings mean.

Does It Matter Who The Credit Was That Listed The Default ?
Credit File & Report

Does It Matter Who The Credit Was That Listed The Default ?

Even though a negative credit listing should be removed from a credit report if it is found to be faulty or inaccurate regardless of whom the credit provider was the reality is the process of arranging the removal of a credit listing can be as much to do with who the credit provider is as facts surrounding how the listing was entered.

The Australian Credit Markets
Credit File & Report

The Australian Credit Markets

The Australian credit market is among the most interesting in the world as it remains among the most robust and active. While credit markets elsewhere in the globe dips into troubled territories, credit market in here have remained robust.

No Defaults No Problems
Credit File & Report

No Defaults No Problems, Think Again

We are regularly contacted by mortgage brokers and other industry professionals regarding their client’s credit files.  One thing we hear regularly is my client has no defaults or judgments but they have been refused finance, what’s going on?

Credit Scoring - A Mortgage Brokers Point Of View
Credit Rating & Score

Credit Scoring – A Mortgage Brokers Point Of View

For a mortgage broker, there’s nothing more frustrating than spending time preparing and submitting an application, only for the lender to decline it due to a credit problem. What can often add insult to injury is learning the problem in question is something quite small – such as a paid default to a phone carrier – that could have even taken place years before.

||The Inconvenient Truth About Credit Scoring||
Credit Rating & Score

The inconvenient truth about credit scoring

To a mortgage professional there’s nothing more frustrating than spending time preparing and submitting an application on behalf of a client, only to find it’s declined due to a credit problem.What can often add insult to injury is learning that the credit problem in question is something as small as a paid default to a phone carrier, often an event that took place years prior.  This situation can be very difficult for a client to grasp; after all, such a listing may not at all represent their current financial position or ability to service a loan.

What Is A Credit Rating?
Credit Rating & Score

What Is A Credit Rating?

A credit rating is number that is often referred to as a credit score.  When reviewing a credit report many credit providers use this number as a way of determining whether they will approve an application.