Useful Information On Credit File & Credit History Repair

Who are the Australian Credit Reporting Agencies?

There are (3) main Credit Reporting Agencies in Australia.

The largest and most used by lending institutions and creditors is Veda Advantage , however the others should also be considered.
Veda Advantage: www.vedaadvantage.com.au or www.mycreditfile.com.au
Dunn & Bradstreet: www.dnb.com.au
Tasmanian Collection Services: www.tascol.com.au

What information is held on a credit file & for how long?

External Administrations
Previous Directorships
Bankruptcy, Part 9 Debt Agreements
Serious Credit Infringement
Credit Enquiry, payment Default
Court Judgment
Summons, Court Writ

10 years
10 years
7 years
7 years
5 years
5 years
4 years

Which government agency may be able to assist if you experience a problem with your credit file?

What do I do should I discover a problem with my credit file?

  • Stop applying for any type of credit or finance immediately.
  • Obtain a recent copy of your credit file from Veda Advantage.
  • Gather as much information as possible you may have received from the listing party regarding the alleged default.
  • Contact our office on (02) 9890 4811 to discuss your problem, and we try to find a solution.

Why should I be cautious when engaging the services of a credit repair company.

Most credit repair organisations are unqualified to understand the complexities of the law surrounding credit reporting, they adopt a hit and miss approach which runs the risk of reducing your chances of getting a removal of a listed item.
Be extremely cautious of companies that provide a percentage rate of success. There are companies say they are successful in repairing between 91% - 93% of matters they take on. This is an absolute gimmick designed to attract new clients. The truth is no company can guarantee success or even give a percentage of success, our knowledge and experience has taught us that each and every clients circumstances different and each and every negative listing that appears on a credit file is different. We rely on our knowledge, skill and dogmatic approach to get the job done. We back our selves by providing A No Win No Fee Guarantee.

If you have multiple listings on your credit file, you are at risk. Most credit repair companies will work on the easy listings first charge you a fee, then move on to the more difficult listings which they are unable to remove. You have paid money upfront and your credit file is still plagued with problems. What they should do is, assess your matter, advise as to which listings are the more difficult and start with those first. If a removal is achieved then they move on to the next matter.

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Useful Information|
A Time For Caution|Checking The Authenticity Of Information On Your Credit File|Credit History And Its Effect On Credit Score|Engaging A Company|Positive Credit Reporting Is Here|Understanding The Australian Credit Reporting System|