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FAQ: Frequently asked questions

Credit reporting

A credit report is a document that outlines your credit history. Credit reports are created by credit reporting agencies such as Equifax, Ilion, and Experian. The information contained within your credit report is used to determine your risk profile.

A credit report consists of the following information.

Personal information

This includes your name, address, date of birth, driver’s license, employment history, and address.

Credit history

A list of any credit or loans that you may have applied for in the past. These can include (but are not limited to) phone carriers, gas and electricity providers, insurance providers and banks. Your credit report will also show any defaults or overdue payments that are 60 days after collection activity.

Repayment history

Your credit report will outline your repayments for any credit obtained. The date of payment, due dates, and missed repayments will also be visible.

Additional information

This includes bankruptcies, debt agreements, personal insolvency agreements, and court judgments.

If you would like us to check your credit score, Clean Credit offers this service for small fee, which can save you time and any confusion. Everybody is entitled to a copy of their credit report. You can also access a free copy of your credit report every 12 months from each of the three nationwide credit bureaus by visiting www.annualcreditreport.com

Each time you apply for credit or are late paying a bill it is recorded on your credit file. This information is then reviewed by potential credit providers who will give you a risk rating based on this information. If you have a large number of recent enquiries or any negative listings on your credit report it may be difficult for you to secure credit in the future.

Even one small late payment can have long-lasting negative effects on your ability to secure finance. This is because most credit providers use automated systems when assessing risk and these systems are triggered to react to any negative listing, small or large, paid or unpaid. The outcome of negative listings is often the same, being a decline.

Credit repair

Credit repair is the process of improving an individual’s credit report. This is achieved through the removal or adjustment of incorrect or unlawful negative credit listings from a person’s credit file. With a better credit score, you have an improved chance of securing credit. 

Paying an overdue account will not remove the default. Once a listing is made it will be recorded on your credit file for 5 years. Even if you pay the debt, the listing will remain on your credit file. Whilst it is important to keep track of any debt, from a credit rating perspective the issue is not resolved after the debt is paid.

  • Repayment history – Up to 2 years
  • Enquiries – 5 years
  • Defaults – 5 Years
  • Serious credit infringements – 7 years
  • Court judgements – 5 years
  • Bankruptcies – at least 5 years

Clean Credit

The credit repair process is achieved by knowing and applying relevant legislation to the listing process. Once you enquire with Clean Credit, a credit repair specialist will ask for some information about your circumstances. They will investigate your credit information by dealing directly with the appropriate credit providers. Any information is used to assess whether your case has grounds for removal. Clean Credit will then prepare a dispute highlighting any errors in the credit removal process. We will communicate your circumstances and escalate the matter to have your default removed.

It may take 4-6 weeks to remove a credit item from your file. The removal does, however, vary on your individual case.

An application fee of $330 including GST and a removal fee of $880 including GST per removal of a credit listing. At Clean Credit, we offer flexible payment options. Please note that court fees and associated costs with removing a judgment may vary in individual cases. Speak to one of our credit specialists for more information.

If Clean Credit is not able to remove or improve a negative listing on your credit file, then our removal fee is forfeited.

This No Win No Removal Fee policy is symbolic of our high success rate and our professional confidence. Just as no lawyer can give you a guarantee you will win a court case, it is impossible for us to guarantee a positive outcome. Any company claiming to offer a guarantee of success is not being truthful. Clean Credit’s policy is to only accept matters that we genuinely feel we can assist with.

We believe honesty is the best policy and are always completely clear with our clients about their chances of success.

The majority of our fee is based on successfully removing the credit listing, so we are motivated to perform; this is reflected in our high success rate.

There has been negative press about credit restoration in recent years. This is due to a minority of dishonest companies who offer unrealistic expectations and take money without giving any results.

This, unfortunately, has influenced the media’s coverage and the public perception of the credit repair industry as a whole. This is unfortunate, because genuine, transparent companies like Clean Credit are here to offer transparency and honesty every step of the way.

Clean Credit a highly reputable specialist in credit repair, here in Australia. We are proud to hold an open policy about our process and happily answer our clients’ questions.

With our passionate and experienced team, Clean Credit can offer our clients a very high success rate, meaning you have the highest chance of repairing your credit rating.

Even better, our removal fees are only charged if we are successful in removing or improving a negative listing on your credit file. With this No Win No Removal Fee policy, we hope to inspire confidence in our clients and to remove the negative stigma that may surround the credit repair industry.

You only need to read our 100% genuine testimonials or independent reviews from Trust Pilot to see how we have help many Australians get a better credit score.

You can call us on 1300 015 210, use the chat facility on the bottom right of your screen or complete our enquiry form below.


        
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About credit repair

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