Your Credit Score
In other countries, such as the United States of America, a credit score can be viewed by a number of people and organizations. These include credit providers, potential employers and real estate agents in the case of applying for a rental property.
In fact, in the United States the military looks very negatively upon a poor credit score and this can affect your military career.
Luckily in Australia it is only really credit providers that are going to review your credit file. To a potential credit provider your credit score is of the utmost importance, as it is seen as a way of predicting risk and your potential for defaulting on a loan or credit facility.
In order to view your credit file, a credit provider must first hold an account with the credit reporting agencies such as Veda Advantage or Dun & Bradstreet. Once subscribed and with your authorization, a credit provider is granted access to conduct a credit enquiry. They can also enter a negative listing such as a payment default in the case of a late or missed payment.
Is Your Credit Score Correct?
Just because a negative listing is on your credit file, it doesn’t mean that it is correct. In fact, many creditor providers mark negative listings without following the correct legal procedures. This means that people are wrongly receiving a bad credit score, which could have severe impacts on the individual and their family. With a bad credit score, you may find it very difficult to secure credit or you may find that the only loans you can obtain have very high interest rates. Your credit score can have a significant impact on your life.
Clean Credit specialises in helping people have negative credit items such as defaults and judgements removed from their credit files. We believe it is unfair that illegitimate listings are affecting people’s credit scores. Through our credit repair service, we can help restore your credit rating and improve your credit score.