Does Afterpay Affect Your Credit Rating?
The introduction of shop now, pay later technology has been revolutionary in how many retailers offer payment for their products and services. It has been
The introduction of shop now, pay later technology has been revolutionary in how many retailers offer payment for their products and services. It has been
We are often asked if paying an account will lead to the listing being removed from a credit file. This is an interesting question. Read on to find out more on this topic.
One of the most common questions we are asked is “Can Clean Credit remove my court judgement from my credit file?” The answer to this question can undoubtedly make all the difference to your business
Comprehensive Credit Reporting (CCR) is restructuring how customer credit information is reported to credit reporting bodies such as Equifax.
There are three major reasons why a person’s credit score goes down. Having too much debt, not paying bills on time and leaving errors on the credit file undisputed. The bottom line is, you’re overcharging your credit accounts and underpaying them. If money is the issue—then, it’s time to do some saving up.
Are you a full time employee trying to fix bad credit? Here are tips on how to save and spend money not only to improve your credit but to build wealth as well.
How do you restructure your finances, and end up with the best credit rating you can? Or, how can you improve your credit rating, if you are having difficulty with your finances now?
Experiencing difficulties in getting a loan is the best indication that you should focus on a credit repair. If your credit file has a bad history, financial institutions will be reluctant to give you a loan. Even if your business and income are doing great, chances are your loan applications will be rejected in case of a bad credit history.
Ever wondered why it is important to track your credit rating? Every Australian has a three-digit score, a credit rating that is calculated by credit reporting bodies (CRBs). This reveals data about your financial history gathered from financial institutions and banks from all over the country.
Have you ever wondered how to enhance your credit score? Or why you should do it? Many people think that dealing with such issues is a lost battle that won’t ever end, but in fact, there are changes that could make your life easier.
If you are feeling overwhelmed with your monthly bills, multiple loans, and you are even ignoring calls from companies you owe money to, it might be time to consider looking at debt relief.
Do you know your own credit rating? Do you know that your credit rating is flexible and changes as your debt accumulates or as your debt reduces? Do you know your credit rating can affect potential loans like home loans, personal loans, or even a loan for that sweet ride you’ve been eyeballing?
Picture this: Just like most Aussies out there, a Sydneysider was looking forward to the idea of getting married, and purchasing her dream home with her fiancé.
When you’re riddled with debt, it can seem like you are never going to get out of this position. It’s a vicious circle, and no matter what you do to escape it, something is keeping you down.
In case your crediting rating is not in the best shape, there are certain methods that you can do to be able to fix it. Why is there a need to amend your credit rating? When you are young, you spend without giving it a second thought.
Credit cards provide convenience particularly if you have an important purchase that you need to make right away and cash on hand is not available.
Debt consolidation loans are ideal for individuals, who have several unsecured loans. Why is there a need to consolidate your loans?
Bad credit imminently leads to inconvenient interest rates on mortgages, car loans or student loans.
There are many ways to check your credit score. Most people only ever get around to having a credit check whenever they are considering taking out a mortgage to buy a home or to get a loan on a new car.
A recent study has shown that residents living in inner Sydney and inner Melbourne have some of the worst credit ratings in Australia.
Debt consolidation is one way to manage or organize your debts which probably includes credit card debt, car loan, home loan, educational loan, personal loan and other types of loans that you have engaged in.
If you have a credit card then you probably know that the interest rates are incredibly high. You might have gotten a credit card or two for those “just-in-case” purchases but if you have ever missed a payment then you know why credit card companies are so rich.
I often say this to myself, “I want to clear my debt” but I noticed that I find myself borrowing again just to be able to pay my existing loans. I’ve been thinking about how I can clear my debt as soon as possible.
Identity theft is a big problem for Australia. It is estimated that one in five Australians have had their information stolen at least once. Criminals have various ways of stealing your personal information. They can implement low and high tech ways of collecting your data.
Today mortgage providers are now offering some incredible tempting deals. Many Australians are now being lured by these unbelievable offers prompting many experts to warn them not to be dazzled by such upfront mortgage deals
Younger generations are not generally known for being financially responsible but Generation Y or Gen Y might be a generation that is the exception to the rule.
Curious about how to improve credit rating? First, you must understand what credit rating is.
Psychological research says that the biases you have lead you to make financial blunders that can have major effects on your wallet.
If you have ever used credit cards then you will undoubtedly know that the interest rates they charge on purchases are high, very high in fact. But they have actually been lowered recently. The most recent average rate on low-rate cards has gone from 13.2% to 12.95%.
The introduction of comprehensive credit reporting has raised many questions from credit providers and consumers alike.
In Australia, one in 10 individuals currently struggle with less than perfect credit. Whether it is due to missed payments in the past or taking on too many debt obligations in a short period of time, bad credit can be a challenge to overcome and can make the process of repairing a marked credit file a daunting task.
Getting carried away over the Christmas period is common with many people spending more than they had expected to. Christmas debts combined with the usual household expenses can make managing finances tough and left unchecked can even lead to a damaged credit file.
Despite how important an individual’s credit report may be, the majority of Australians have never checked their report. Not knowing what your credit report holds can lead to paying higher interest rates on credit cards and loan accounts, and can impede your chances of getting an affordable home loan.
Christmas can be an expensive time of the year and it’s all too easy to spend more than you planned to. Many people start the New Year with bills they are unable to pay and this reality quickly replaces the joy of Christmas with a feeling of worry and regret.
The end of the financial year in Australia is almost upon us. As another year winds down and comes to a close, it’s a good time to reflect on the past 12 months of your finances.
We are often asked if paying an account or unpaid default will lead to the listing being removed from a credit file. From a purely
This is a question we are often asked. I can understand that from a consumer’s perspective it must seem confusing that information can differ between credit reporting agencies. After all, aren’t credit reporting agencies meant to only record accurate information?
We are often asked about the problems with Australia’s credit reporting platform and comment on how many incorrect or faulty credit listings there really are.
Clients often ask us about credit scores and what a credit score needs to be in order to secure finance. This is a difficult question as every credit provider has their own thoughts and policies with regard to lending guidelines.
Clean Credit has launched a debt negotiation service called Clean Credit Debt Resolutions
We were recently featured on channel seven’s Today Tonight; the topic was how credit applications can damage people’s credit files. Click here to view
There are over 14 million credit files in Australia and these contain over 3 million negative listings (Veda Advantage 2008).
It is common for people to approach us regarding credit repair with accounts that are overdue, the whole reason a default is listed is due to an account being behind. What many people don’t realize is in many cases these debts can be significantly reduced given the credit provider is approached in the correct way.
During the process of repairing credit files we are often become involved in negotiating debt for our clients.
While many people know that a payment default is listed in a credit report for a five year period, few know that a credit provider can record these events sometimes years after the account fell into arrears.
Removing a default can be all about talking to the right people.
It is widely accepted that the Australian credit reporting platform is far from perfect, in fact the CRAA (Credit Reference Association of Australia) has described credit reporting in Australia as the most restrictive in the western world. I for one would not argue with this view point.
Unfortunately like many industries credit repair has its fair share of questionable operators and as is often the way, the entire industry is often judged on the practices of a small group. The dishonest conduct exercised by some has caught the attention of the Australian Securities & Investment Commission ASIC and it would appear that regulation may not be far away.
At Clean Credit we see two common types of default listings appearing on our clients’ credit files. These are a ‘payment default’ and a ‘clearout’ or ‘serious credit infringement’. Here is some valuable information about what these listings mean.
Even though a negative credit listing should be removed from a credit report if it is found to be faulty or inaccurate regardless of whom the credit provider was the reality is the process of arranging the removal of a credit listing can be as much to do with who the credit provider is as facts surrounding how the listing was entered.
The Australian credit market is among the most interesting in the world as it remains among the most robust and active. While credit markets elsewhere in the globe dips into troubled territories, credit market in here have remained robust.
We are regularly contacted by mortgage brokers and other industry professionals regarding their client’s credit files. One thing we hear regularly is my client has no defaults or judgments but they have been refused finance, what’s going on?
For the consumer it is important note that not all credit repair companies are credited equal. Unfortunately, like most industries credit repair has its
How is it that a small blemish on an otherwise perfect credit report can have the same potential penalty as a serious default to a major bank?
In Australia, just like in most other nations, credit reporting is considered the primary method for credit worthiness assessment of individuals.
For a mortgage broker, there’s nothing more frustrating than spending time preparing and submitting an application, only for the lender to decline it due to a credit problem. What can often add insult to injury is learning the problem in question is something quite small – such as a paid default to a phone carrier – that could have even taken place years before.
To a mortgage professional there’s nothing more frustrating than spending time preparing and submitting an application on behalf of a client, only to find it’s declined due to a credit problem.What can often add insult to injury is learning that the credit problem in question is something as small as a paid default to a phone carrier, often an event that took place years prior. This situation can be very difficult for a client to grasp; after all, such a listing may not at all represent their current financial position or ability to service a loan.
A credit rating is number that is often referred to as a credit score. When reviewing a credit report many credit providers use this number as a way of determining whether they will approve an application.
Credit card fraud in Australia is continuously proliferating. It has grown more rapidly in the last 10 years. According to the Australian Crime Commission (ACC), skimming or counterfeiting of credit cards by unscrupulous parties cost Australians over $45 million annually. Thus, credit card scam is one of the most pressing issues that heighten alert among authorities and that worry most consumers across the country.
One in every six Australians has been a victim or knows someone who has been a victim of identity theft. This is the findings of an online research released by Di Marzio Research in July 2011, which polled 1,200 respondents. The survey would be among the information that would be used for the development of a proposed National Identity Security Strategy.