comprehensive credit reporting
Comprehensive Credit Reporting (CCR) is restructuring how customer credit information is reported to credit reporting bodies such as Equifax.
Your credit history is a major factor when it comes to taking out a mortgage on a house, getting a loan for a car, applying for a credit card and even when applying for some jobs
There have been a lot of changes to credit reporting over the last 18 months. While many of these changes have been welcomed, one has remained a point of controversy and is the subject of much talk and misunderstanding. That is the recording of loan repayment histories on credit files.
With the amount of debt continuing to rise across the country, consumers have experienced a heavier reliance on a review of their credit file in recent years.
Historically, Australia has operated under a negative credit reporting system for the purpose of assessing financial and credit worthiness. This meant that an individual’s credit report only included information such as past credit enquiries, delinquencies and other major and minor financial infringements.