Effective credit repair is often all about identifying faults and errors with the process a credit provider followed prior to listing a negative credit listing such as a payment default. The key is understanding the laws around credit reporting and comparing the process a credit provider followed with what they were legally required to do.
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We all do it, we get carried away at Christmas and spend far more than we had planned to.
With credit cards it’s very easy to just buy it and worry about it later. The problem is latter comes very soon and before you know it you get a credit card bill you cannot jump over.
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We often talk with clients that have unpaid default listed on their credit file that think if they pay the account the listing will be removed.
When a client is telling us about their credit issues they will often say “don’t worry about that one because I’m going to pay the account” they are saying this because they think if they settle the account the credit provider will remove the default.
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At Clean Credit we are often asked to help people remove defaults that relate to credit cards and personal loans.
In many of these cases it is alarming how much unsecured debt some people have and how the payments on these debts often are well in excess of their income. While it is true that people need to be responsible for their own actions, I feel how this debt was originally approved also needs to be considered.
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One the most important documents when researching a default listing is the demand notice.
A credit provider must provide a correctly structured demand notice to the borrower prior to listing a negative credit listing with a credit reporting agency.
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I recently read an article suggesting that credit repair should only be conducted by a legal firm.
While I felt some of the points in this article had merit I feel effective credit repair services can be provided by people that are not solicitors.
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One of the first steps in helping people to restore their credit ratings is to conduct an investigation into the process the credit provider followed prior to listing the default. There is much a credit provider must comply with before they are legally able to enter a default against someone.
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I recently read an article by Choice awarding a credit repair company with a shonky award. This seems to be the most recent in a long line of negative media regarding the credit repair industry. Much of this media has…
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John Dickinson of Clean Credit gives some helpful tips to keep your credit file in good shape Always communicate with the credit provider. If you have fallen on hard times and are struggling to manage all your bills – call…
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You are no doubt aware that Veda Advantage is now including credit scores for consumers; this information was previously only available to credit providers. While there has been a lot a media about this, very little has covered how credit…
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