Want a Great Credit Score? Then Stop Loan Shopping.
Enquiry listings on credit files are a BIG. RED. FLAG. to lenders. I had a customer recently who had 23 of these credit score-destroying marks on her credit file. The amount of loans she could get? ZERO. What is an enquiry listing? An enquiry listing is put on your...
Free Credit Scores are often Wrong
There are lots of websites that have sprung up in the past couple of years that offer free credit scores. I recently assessed a client's free score from one of these sites. There was hardly any useful information on it. The score was in the 200's, so very low. This...
The Cost of a Poor Credit Score
Recently one of our clients had triplets. They were only planning one baby but three were conceived naturally and they already had another young child. Sam, a young dad still in his 20s, urgently needed a new car to accommodate his expanding family but when he applied...
Beware the Internal Black Mark
Most clients I deal with have had a bad patch at some point in their financial lives, caused by things like relationship breakdowns, illness, accident, job loss or the like. These life situations can often lead to an actual black mark on your credit file. In order to...
Do’s and Don’ts of Building a Perfect Credit Score
Do keep an eye on your payment due dates and pay on time. This includes bills, credit card repayments, personal loan repayments, and home repayments. Do keep a diary noting when all your repayments are due each month and add it to your to-do list. SMS alerts are...
6 Things you Should Know to Repair your Credit in Australia
It's usually a quick solution Statistics show that credit files can be repaired in 6-8 weeks on average. In some cases the process is quicker than that, and in other cases it is longer, but on average customers are ready to apply for credit in a relatively short...
I Don’t Want To Blow My Own Trumpet But…
It is not cool in Australia to blow your own trumpet, right? But what do you do when you know certain competitors are failing to do proper investigations for their clients with credit impairments and your company continually picks up the pieces? To be frank, I am...
Tread Carefully with some Credit Providers
We all know that black marks on your credit file automatically make it harder for you to get a loan. Black marks include overdue account listings (also called defaults), court actions (paid or unpaid), repayment history indicators, and frequent, recent loan...
Getting to the truth via Credit Repair
Recently two American lawyers Dean Strang and Jerry Buting were being interviewed about Season 2 of Making a Murderer, a hit series on Netflix that has a large portion of the Australian population captivated. Perhaps the most compelling part of this story is the...
Repayment History Indicators now appearing on credit files
The day was coming and has now arrived. In March 2014, the new credit reporting regime began in earnest in Australia and we were told that repayment history information would now be recorded on credit files. The legislation that brought this change came into effect in...