Having a low credit score may be affecting your ability to get loans or credit you apply for. If you’re worried about how expensive it is to repair bad credit history, this blog post can help.
What’s the general process to repair bad credit history?
There are many ways to deliver effective credit repair, but it is most often repaired by identifying inconsistencies in the process undertaken by credit providers. Mistakes and errors on your credit report are disputed in order to bring your credit score back to health.
Who are we and how can we help?
Clean Credit is a team of finance experts dedicated to improving clients’ credit scores successfully and efficiently. We are a reliable credit repair company that comprehensively assesses your credit file, investigates your current credit situation and assesses if you have a case against creditors. Our process goes as follows:
Step 1: Call us and enquire about your case. We will obtain your credit history and pick up on things you may have missed.
Step 2: We investigate further, requesting information from the credit providers to decide whether the negative listing has been correctly placed. That includes accessing copies of the notices and the file notes.
Step 3: Clean Credit prepares the dispute and makes sure to cover any problems with the creditor’s process when listing your default. We escalate your case by communicating your circumstances to the creditor, aiming to achieve results as soon as possible.
Step 4: We will work with the credit reporting agencies directly to follow through with the removal or correction of your bad credit rating so you can move on with your life. 95% of our clients get their credit history repaired within four to six weeks.
While other companies may claim to contest your score without backing up their claims, we have a proven high success rate supporting us. We also make the offer of NO REMOVAL, NO FEE (per default), with the aim of making the process less expensive to repair your bad credit history. This means if we do not successfully remove a default, you will get your money back.
How expensive is it to get your bad credit history repaired with Clean Credit?
Application fee: $330
Per removal: $880 (refunded if not successful)
Per court judgment: $220
Why would you need to get your bad credit repaired?
A low credit score can cause many monetary stressors, which is why it is important for so many people to get their credit repaired. When applying for a credit card in Australia, it’s harder to qualify if you have a low credit score. Lenders want to make sure you can pay them back, but a low score indicates you may not be trustworthy to pay off your debt.
If you’re trying to get approved for a rental property, landlords might request a copy of your credit report. If they see something they don’t like, then it could be game over for you. Just like in the case of a credit card, landlords want to know you can pay rent on time. A low credit score indicates you may not.
Another stressor is being able to sign up to a phone plan. Most telco providers ask for a credit check before they can sign up to a postpaid plan. If they see a low credit score, they might not follow through with your plan. You will have to stick with a prepaid phone plan, however, this could be a problem for someone who does not have the money to buy a phone outright.
A low score will also affect you when applying for a personal loan. You may still be able to qualify for a personal loan, but interest rates are probably going to cost you more. Getting your credit repaired will help bring those rates back down.