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Credit Repair Australia - How Does It Work?


        
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We provide credit repair solutions

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In times of financial uncertainty, it is vital that you have financial choices. Our initial consultation to discuss credit repair services is free of charge. 

Clean Credit are an established and trusted credit repair specialist, effective in credit restoration services to improve your credit record. Clean Credit specialises in removing and improving your credit report, removing negative listings such as payment defaults or judgements. With an incredibly high success rate, our credit repair Australia service can give you a financial fresh start. Find out the answer to “how does credit repair work?” below.

We believe we are one of the most established, transparent and trusted credit repair companies in Australia, offering a “no win, no removal fee” policy.*

What is credit repair Australia?

Credit repair is a term used to describe the process of improving an individual’s credit report. This process is achieved through the removal or adjustment of incorrect negative listings from a person’s credit record.

Repairing your credit record involves cleaning up these listings may improve a person’s credit score. This is a score that is checked by lenders when someone applies for a loan.

With a better credit score, a positive credit record will reflect that a person has a greater chance of securing finance as they are deemed as more responsible borrowers.

*see our full terms and conditions for details.

how credit repair works

What is a credit score?

A credit score is a number that represents the information contained within your credit report. It is used by lenders to assess your creditworthiness. The higher the score, the more likely you are considered to be able to repay loans and finance. 

For example, if you want to apply for a credit card, and you have a default plus several enquiries from other banks, the provider may decline your application. Clean Credit repairs a customers listings, where ever possible, so you have the best change of being approved.

How does credit repair work?

A credit score is a number that represents the information contained within your credit report. It is used by lenders to assess your creditworthiness. The higher the score, the more likely you are considered to be able to repay loans and finance. Credit repair Australia means that you can wipe your slate clean and take financial control again.

For example, if you want to apply for a credit card, and you have a default plus several enquiries from other banks, the provider may decline your application. Clean Credit repairs a customers listings, where ever possible, so you have the best change of being approved.

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Why should I fix my credit rating?

Bad credit history:

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Low credit rating

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Difficult to acquire loan or finance

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Limited options

Good credit history:

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Credit repaired

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Increase your credit score

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Get loans with lower interest rates

The credit repair process

Our goal at Clean Credit is to make sure that all our clients vastly improve their credit score. To do so, we comprehensively assess your credit file. This involves investigating your credit situation to assess whether or not you have a case against the creditors. Credit repair Australia – how does it work? We find credit fix solutions fast so that credit repair can work for you.

 
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Step 1: Enquire

When you call Clean Credit for a free credit repair consultation, our friendly experts will ask you questions about the default listing and your circumstances at the time. Clean Credit will then determine the best way to help you. We can also obtain your credit history to pick up on things you may have missed.

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Step 2: Investigate

Information is then requested from the credit providers, including copies of the notices and the file notes, to investigate whether or not the negative listing has been placed correctly. We use this information to investigate and identify grounds to remove the bad credit listing completely.

Step 1: Talk to us

Step 3: Dispute

Next, a dispute is prepared, highlighting any errors in the process the credit provider followed when listing your default. We also communicate your circumstances at the time and escalate the matter to have the default listing reviewed.

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Step 4: Remove

Finally we deal directly with credit reporting agencies such as Equifax and Illion in order to facilitate the removal or correction of your bad credit rating so you can move on with your life. 95% of our clients will see results within four to six weeks of engaging our services.

Placing a negative listing on your credit file

There are certain procedures a credit provider must undertake for a negative listing to be made on the customer’s credit report. 

 
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Final Bill

A final bill must be sent to the customer at least 44 days prior to listing.

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Default notice

A default notice must be sent to the customer’s last known address no less than 14 days prior to the default listing

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60 day arrears

An account must be at least 60 days in arrears before a negative credit listing can be made by a credit provider.

In many cases, providers have failed to follow important processes before listing a negative credit item incorrectly. It is not uncommon for a demand letter to state the correct notice period, being 30 days, however, the credit provider will often list the negative item before this notice period has lapsed, which can result in bad credit.

The default notice must also include certain information such as the amount owed, how this amount can be paid, the time given to pay and must communicate an intention to list a payment default in the event of non-payment. This is just a small part of what is required to list a valid default.

We investigate the processes used by creditors and identify areas of non-compliance with the current state and federal legislation, deeming the default listing to be invalid. This means we can fix your credit report more easily.

Removing a negative listing on your credit file

The negative listing itself must be recorded correctly. Items such as the amount owed, the date entered, the status and nature of the listings must be accurate. It’s very common for creditors to enter this data incorrectly to the detriment of the consumer.

Another example is accounts that were in dispute at the time of listing. Should a consumer contact a creditor and dispute a bill, the provider should not enter a negative credit listing unless the dispute has been resolved prior. It is common for creditors to list a payment default when the account is being disputed.

Should a consumer contact a creditor and inform them they are having difficulty making payments, the provider may be obliged to offer financial relief by way of freezing the account for a period of time, altering the payments or adjusting the term. If a creditor does not offer financial relief they may be in breach of legislation and industry practices. 

Therefore a payment default or other negative listing should not be entered on a credit report.

In some cases, extreme hardship can also be used as an effective negotiation platform to remove a negative credit listing. 

These cases are treated on a case by case basis, however, situations such as serious illness or family tragedy can be considered when disputing negative credit listings from the file. Call us now if this applies to you. We are here to help.

Credit repair Australia is possible with the help of Clean Credit. Enquire below and take the opportunity to get finance on your terms, when you need it.

Our specialist credit repair team are ready to help you

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This page is just a quick overview answering the commonly asked question of: “how does credit repair work?” Clean Credit Pty Ltd specialise in understanding the most effective methods to administer credit fix solutions on behalf of our clients. With the help of our highly trained, motivated consultants, hundreds of Australians have repaired their credit file and increased their credit score, allowing them to become financially free once again.

Clean Credit Pty Ltd is here to help you regain financial control. We stand by your legal rights and believe people should not suffer as a result of the negligence and disregard of others. Our solutions are transparent, simple and as quick as we can make the process. With our help, you get back on track and able to confidently apply for finance again.

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Credit Repair – How Does it Work in Australia?

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.

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*Please refer to our no win no removal fee policy on our terms and conditions for more information. The initial administration fee of $330 including GST is still payable if we are not successful, but the removal fee is refundable according to our policy.