What is Credit Repair?
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 credit listings from a person’s credit file. Cleaning up these listings may improve a person’s credit score, which is a score that is checked by credit lenders when someone applies for a loan. With a better credit score, a person has a greater chance of securing a loan as they are deemed as more responsible borrowers. Another benefit of a clean credit file is the ability to obtain a loan with a lower interest rate
What is my credit score?
A credit score is a three-digit number that represents the information contained within your credit report. It is used by credit providers to asses whether you are a risky borrower. The higher the score, the more likely you are considered to be able to repay any credit borrowed. In order to understand your credit score, you must be aware of the factors that impact your credit score.
Benefits of a good credit score
- Improve your credit score: The removal of a negative listing from your credit report may increase your credit score
- Secure credit: Lenders will assess your credit score to see whether or not you are a risky borrower. If your credit score is high, you will be more likely to secure a loan or finance in the future.
- Adopt positive long term financial habits: With a Clean Credit, you can look forward to a fresh start. This ties in with smart financial habits.
Long term Credit Repair support
Our goal at Clean Credit is to make sure that all our clients vastly improve their credit file; whilst developing positive financial behaviors. For most of our clients, this is achieved through the removal of an offending negative credit listing. If you improve your credit score, you must develop positive long term financial habits, as you do not want any more defaults on your credit file. Fortunately, we believe that the journey to financial success is not one that you need to do on your own. That’s why we’re determined to help you stay on track.
Our learn page provides you with access to a range of helpful tips and tricks that will help you better understand how to adopt positive financial behaviors. Learn all about credit repair, how to save money and how to start a budget online.
Clean Credit is up to date with all the relevant legislation.
The Australian Credit Reporting system has changed over time. As credit repair specialists, we are completely up-to-date with the new Comprehensive Credit Reporting system. With this expertise, our friendly team know the best methods to repair your credit rating and improve your credit score. We have helped many Australians repair their credit ratings, allowing them to once again secure financial credit and regain control of their lives.
Credit Repair FAQ
At Clean Credit, we are confident in our high level of credit repair service. In saying so, there are credit repair agencies that are not reputable and trustworthy. In order to assess whether an agency is trustworthy, there are a few things to look out for. These include;
- Credit License: See if the company has an ABN. This should be visible on the company’s website.
- Honesty with fees: Is the company transparent and upfront with their pricing? Read their Terms and Conditions before you commit to any support.
- Reviews: Does the company have any third party reviews? Check Trustpilot or Google Reviews to see the experiences of other customers. The company must be respected and valued by the most important people – its customers.
The first step to cleaning your credit is establishing whether or not you have a default on your credit file. Fortunately, there are various ways in which you can check your credit file.
- Request your credit file from credit bureaus such as Equifax or Ilion.
- Alternatively, for a small fee; Clean Credit can assess your credit file and let you know of any defaults or negative listings.
If you have a credit issue, it is easy to apply for credit repair with Clean Credit. Simply fill out our online enquiry form. If you prefer to chat over the phone, call us on 1300 015 210
For more information on how we repair credit, visit our How It Works page.
From a legal point of view, there is no association between closing an account and the removal of a default. Paying off an account with a default will not remove the default from your credit report. Unfortunately, all your details regarding the closed account will remain on your credit file for lenders and credit bureaus to access. For more information on this, check out our article on paying off accounts with a default.
It takes time to rebuild bad credit. Credit repair does vary from person to person. Whilst immediate improvements are possible it is important to be patient with the repair process. A good credit score ties very closely with positive financial habits. That’s why you must ensure that you keep on track with your finances and don’t fall behind, particularly if you have spent money on repairing your credit score.