We reveal whether credit repair companies really work & discuss the good vs the bad. Are they worth the time & money? Find out here!
Credit repair is a term used to describe the process of improving an individual’s credit report. This can be achieved through the removal or adjustment of incorrect negative credit listings from a person’s credit file. Credit repair is a possibility in Australia, but first, it’s important to understand what could have damaged your rating in the first place.
Are you always maxing out your credit card? Do you let your bills pile up? It can be easy to do but unfortunately this activity can have a detrimental effect on your credit report. A poor credit rating might not seem like a big deal, but lenders will view any negative listings on your credit report as a red flag.
The holiday season is an expensive time of year. Many Aussies resort to credit to get by, but this often results in a lingering debt hangover. A recent study by Finder revealed that 37% of Aussies will still be repaying their Christmas debt in 2020. Carrying a high amount of debt can damage your credit score
With Christmas on the horizon, there is much “talk” of the tendency of many people to go into debt for the holiday. Obviously, overspending is a serious concern, especially as it can lead to bad credit. But what if you already have bad credit? How do you rebuild a bad credit score? Is there such a thing?
The end of the year is always a busy time and it’s no secret that the holidays can leave us feeling a little strapped for cash. These Summer holidays, why not pick up a side hustle and see if you can bring in some extra money to help you make those ends meet?
With only a few weeks until the start of 2020, now is probably a good time for you to decide upon one or more New Year financial goals that you feel is/are realistic and perfectly achievable. Whether you are in a strong place financially or are struggling, it would be great to put in place at least one such goal that you can maintain
Stepping up into the world of credit cards is an exciting milestone that we often aren’t prepared for. It’s also a big adjustment. While most of us have an idea of how the credit card works before we dive in, it can be all too easy to get carried away or step back from responsible spending.
Before you go ahead and take out a loan – whatever type it may be – it is important to shop around and make sure you are getting the best deal. Once you decide to apply for a credit product, whether that is a credit card, a loan, or a utilities application, then a credit enquiry is recorded on your file.
Christmas is notoriously expensive, and costs can start piling between end of year celebrations and Christmas shopping. Those without enough cash saved will often resort to credit to tide them over. But this can result in a post-festive debt hangover that lingers well into the new year.
Plenty of us are guilty of overspending during the holiday period, but this carefree attitude to money can end up damaging your credit score in the long run.
There are times when you might not be able to save money – especially when you don’t even know how to do it, or what costs to cut.
Whist it is tempting to blast the heater in summer, your energy bill can quickly creep up on you. Follow these four tips below to cut the cost of keeping cosy this winter.
Not everyone can apply for serious financial hardship. Not getting enough money to pay your bills or to meet your daily needs wouldn’t suffice. The law set specific circumstances where individuals can take refuge from this legal exception. Serious hardship is a situation in which you can no longer pay your debts and bills. It is a relief offered by creditors and the taxation office to release borrowers from certain types of financial obligations
Bankruptcy is a painful learning experience that reminds us that we messed up with the way we managed debts. But, just like everyone else who stumbled, it is a reminder that we should get back on our feet, shrug off the momentary embarrassment and move forward to a better financial future. Fortunately for you, there are measure which can help in repairing your credit after bankruptcy.
A credit score is a number that represents your repayment habits, credit history, credit mix, and how you manage your debts. In short, there are various factors that credit bureaus consider aside from your outstanding debts and how good you are at paying them on time. A credit score speaks so much about your credit worthiness or your ability to repay your debts.
If you have unpaid defaults, it will be marked on your credit file or result in court judgements. Not making minimum payments on your credit card or missing payment schedules for loans without speaking to the company or lender about coming to some payment arrangement for payment could damage your credit score
If you have taken credit for any reason and you were unable to pay on time, then you’re probably one of the borrowers with less stellar credit rating. And so, you might be asking yourself, “How can I strategise debt management to give my credit rating a boost?”
Is your spending pattern driving your credit score in Australia to its lowest point? Here are some tips to help you save more, spend less and earn more in the process.
Are you a financially aware but your spouse hates saving? Conflicting opinions on money are one of the most common reasons of fighting between couples. Here are tips to save money and boost your credit rating without fighting over money.
There are three major reasons why a person’s credit score goes down. Having too much debt, not paying bills on time and leaving errors on the credit file undisputed. The bottom line is, you’re overcharging your credit accounts and underpaying them. If money is the issue—then, it’s time to do some saving up.
Unlike what some people think, bankruptcy is not complete surrender, nor is debt consolidation an all-out solution.
Here are five common mistakes to avoid when applying for personal loan bad credit:
Life happens, and sometimes it can take an unexpected turn. You are suffering from financial hardship if you are struggling to make ends meet, and finding it hard to pay your utility bills or to meet your loan repayments because of the following circumstances:
When you are desperate, you are more vulnerable to scams of credit repair and dodgy money lenders whose sole purpose is to take advantage of you. Such a credit repair scam can cost you thousands of dollars, and if the service fooled you once, it will fool you again.
Let’s face it, not everybody wants to fix their credit report on their own. It is time-consuming and sometimes, an emotional process for many consumers.
Having to deal with credit card debt can be frustrating, and most of the time, you will see no end to it.
Debts do expire. After a certain period of time, creditors can no longer recover the money they lent you. While the list of statute of limitations is not a solution to your credit issues, it can protect you from unlawful actions of creditors and unnecessary entries in your credit report.
You know the rules—timely payment, low debt levels, credit mix, old account and good new credit are necessary ingredients of a healthy credit score. Having
You may have heard it all the time, “If you want to build your credit, get a secured card”. If you have zero credit or you want to build a damaged one, secured card is a fantastic way building a good financial history. There is also a 100% chance of approval because a secured card is safeguarded by a deposit which also works as your credit limit.
When it comes to building your credit, you want to put your best foot forward. That means giving up your old habits and exchanging them into something that would put more money in your pocket. But, just like everything else, these goals are easier said than done.
Everyone likes to have a sense of security, but if you do not know how to simplify your financial life, then you might find yourself at a standstill. Having debt on top of more debt simply because you didn’t know how to spend your money isn’t an excuse.