So, whether you’ve been affected financially by COVID-19 or not.
It’s so important that you understand credit reporting.
Educate yourself and your family today!
And protect your future credit report footprint!
Our team wishes you all the best with your financial future and we look forward to hearing from you.
Call today on 1300 43 65 69 to get in touch with one of our specialists.
DISCLAIMER
This eBook is for information purposes only and is not financial product or investment advice or a recommendation to use Credit Fix Solutions and has been prepared without taking into account the objectives, financial situation or needs of individuals. Before making an investment decision prospective investors should consider the appropriateness of the information having regard to their own objectives, financial situation and needs and seek legal and taxation advice appropriate to their jurisdiction. Credit Fix Solutions is not licensed to provide financial product advice or legal advice to you, your affiliates or your clients
Credit Repair in Australia is a popular but often controversial topic.
Many credit repair companies are asking for upfront fees.
However, fixing a credit report is never guaranteed.
Also, the credit repair industry is NOT regulated in Australia.
This means anyone could put up a basic website, and promise to help fix a credit report.
As a consumer, you have options to try to fix your credit yourself.
Your Options for DIY Credit Repair
Basic options include contacting your credit provider to lodge a complaint, and/or lodging a correction request to the relevant credit reporting agency.
However, it’s not as easy as calling up the Lender and asking them to remove a negative listing.
A credit report can only be amended if a listing has been listed in error.
That error has to be as per the current Australian Legislation.
It’s a bit like trying to fix your car yourself.
You can try, you can google, but if you know nothing about cars the job won’t be easy.
What other options do I have?
Our law firm, Credit Fix Lawyers, are experts in the legislation that surrounds credit reporting.
We have run thousands of credit repair cases, and removed thousands of black marks.
Many consumers use a credit repair specialist.
This is because they know what they’re doing.
At Credit Fix Solutions and Credit Fix Lawyers, we offer No Result No Fee Credit Repair work.
That means our clients do not pay us anything in most cases unless we can get a successful result.
And you have the comfort of a law firm looking after your credit repair case.
So, give it a go yourself, also contact us today (via our home page HERE) for your free eBook on comprehensive credit reporting.
We offer free assessments on credit reports.
Also, we won’t take on your case unless we feel you have a great chance of success.
It takes our lawyers and our company several weeks to try to fix a credit report.
We work at a cost until such time we are paid.
So rest assured you are in good hands if you send us an enquiry.
Your Credit Score/Report, and how to protect it through COVID-19
2020 has brought fires, floods and COVID-19 all potential damage alerts for your credit report.
The events of 2020 have crushed entire industries, and locked millions of us in our homes, feeling lonely, depressed and experiencing financial difficulty.
For many of us, we are worried about our financial futures, and this includes worrying about our credit report.
Your credit report contains lots of different information, including your repayment history information for the last 24 months.
Here are 10 ways you can protect your credit report in 2020:
1. Don’t enquire for finance online
As a credit repair service provider, we see many consumer reports every week.
When we assess the reports with people over the phone, we see lots of them making the mistake of applying online for finance.
In some cases, people have enquired 10 or more times over a weekend for a personal loan or a credit card.
This has negatively impacted their credit score and credit report.
And enquiries cannot be removed unless they are fraudulent or incorrect.
All you can do, if you’ve applied too many times, is to wait for the affect of those enquiries to wear off over time.
This could be 6 months, or 2 years, depending on the damage you’ve caused.
2. Check your credit report and score on a regular basis
We have 3 credit reporting agencies in Australia. Equifax, Experian and Illion.
Although some credit providers check all 3 reports, they don’t always check all 3 reports.
We do know that pretty much all Lenders check the Equifax report.
Equifax and Illion both provide excellent credit report checking services.
You can sign up for around $10 per month, and you will get an updated score every month.
More importantly, you will be updated if there are any alerts on your file.
3. Don’t apply for pay-day type loans
We all want that pair of shoes, or that nice new outfit at the store or on-line.
We are all impulse buyers in nature as well.
But if you can’t afford the shoes or new bike, don’t opt in for finance to pay for it!
The short term pay day loans offered to us for small purchases are extremely bad for our credit scores.
Just one payday enquiry can lower your score by 150 points.
Save your money instead, and buy the bike from your savings.
You will save yourself a lot of grief with your credit report moving forward.
4. Make sure you pay your bills on time
Missing one repayment can damage your credit report and credit score.
Our repayments on most accounts are now listed on our credit report for 24 months.
Make sure you know your due dates for payments so you don’t affect your credit report with an accidental missed payment.
5. Set up Direct Debits for your bills
A great way to stop worrying about bills is to set up a direct debit for your repayments.
That way, you don’t have to worry about missing a repayment and destroying your credit report.
Also, you can save on payment fees on direct debit, versus credit card payments etc.
6. Contact your Credit Providers if you are experiencing financial difficulties
We have a 15 day grace period to make a payment from the due date on our debts.
That means, if you know you can’t make your payment this month, you have some time to contact your credit provider.
Call or email them to request temporary financial assistance.
This will protect your credit report from any negative repayment history information.
From the score above, the main score is 441.
