Comprehensive credit reporting changes in Australia.

Credit repair services

Comprehensive credit reporting changes were introduced in Australia a few years back.

Basically it means more detailed information will be added to your credit history. Some good and some bad.

Banks and other lenders have been slow on the uptake to add data to credit history data bases with Equifax formerly Veda.

Currently most of the major lenders have added any open credit cards you may have and the last two years of payment history. This was their first meaningful obligation as part of comprehensive credit reporting changes being introduced.

This can be good if you pay on time as it will show as much. Previously that was not the case and prompt payers were not rewarded this way.

Come September this year the banks will now have to add your mortgage payment history to your credit history.

This is all part of the ongoing update of credit reports by the major lenders.

This will allow lenders to more accurately gauge your liabilities and therefore allow them to lend more responsibly. Or so they say.

Here is another article on credit reporting amendments as shown on news.com.au website. It may be of interest.

You can review and assess your credit report any time by accessing our credit file assessment service here.

Veda Credit Repair – practical tips and advice.

Credit repair services

Some straight forward advice for people with impaired credit reports looking for help with Veda credit repair.

If you already have a copy of your Veda credit report just attach and upload using this link. Free credit repair quote


Is Veda credit repair possible?

Yes removing defaults or court judgments can be achieved under certain circumstances. It will depend upon who has listed the entry and how they went about it. Not all entries can be removed.

Who can carry out Veda credit repair?

You can certainly try yourself. Do as much research as possible but be careful, not everything is correct or up to date on the internet.

Or you can have a professional act on your behalf who is familiar with the process, ideally a solicitor who specialises in credit repair.

Should I pay upfront for credit repair?

No. Never pay a cent upfront for Veda credit repair. Make sure you only ever pay on results and never allow people to presure you into anything you are not comfortable with. Always act on written advice only, not verbal agreements.

How long does Veda credit repair take?

This will vary based on how many defaults or judgments issues are to be addressed, how efficient or cooperative the creditors are and in some cases how busy the courts or other organisations are that we must deal with.

On average and all going well we normally see items removed between 3 – 8 weeks. Sometimes quicker and sometimes longer as every case is always different.

No one can predict an exact finish time and anyone who does is misleading.

How much does credit repair cost?

This too will vary based on how many defaults or judgments are to be removed. Typical costs for a solicitor to remove a default or judgment would be between $900 and $1600 if successful.

None of this should be payable upfront and nothing should be paid if the item cannot be removed successfully.

Is Veda Credit Repair legal in Australia?

Yes of course it is, so long as it is carried out in accordance with all industry guidelines and adheres to any relevant legislation. Solicitors are not in the habit of breaking the law when offering this service. So make sure you use a solicitor!

Are there dodgy credit repairers operating in Australia?

Yes absolutely there are. Not only do they give the good operators a bad name but they will not get you results.

Dodgy credit repairers will always get money from you upfront. Some will even say it is refundable but inevitably the refund never comes back to you.

Even some of the biggest names in the credit repair industry operate using unscrupulous standards, including getting money upfront. Beware, just because they are big it does not mean they can be trusted.

Three golden rules for credit repair are as follows,

  1. Never pay any money upfront, refundable or not.
  2. Always make sure your credit repairer uses a solicitor in the process.
  3. Only ever pay upon a result.
Credit repair – Don’t pay money upfront for credit repair!

Credit repair – Don’t pay money upfront for credit repair!

Credit repair services

Never pay money upfront for credit repair services.

How many times must we read articles almost always written by legal aid agencies or consumer law group’s and the like, offering damning advice against all credit repair companies ?

Common sense dictates you don’t pay money upfront for anything unless you know you are going to receive what you pay for. Seriously, do you need to be told that over again via social media ? Apply common sense and do not pay for something until you get it ! Don’t need a legal advice for that do we.

So, don’t pay money upfront for credit repair.

Credit repair is no different to any other service. Results cannot be guaranteed by anyone so you should only ever pay once a result has been achieved.

Don’t pay a credit repair company, do it yourself !

And every legal assistance company around urges you to do credit repair yourself. They hate seeing credit repair people making money. Why? because there are too many shonks in the credit repair industry so the legal aid industry likes to tar all credit repairers with the same brush. Never do they mention there are a few honest repairers who only charge if they get results.

Sure you can try credit repair yourself. And you can try fixing your car yourself, or build your house yourself, or do the electrical wiring yourself, cook your own meals instead of restaurant food, or even fill your own holes in your teeth. You can do anything yourself but fact is, some people choose to employ other people to do things for them!

Just because credit repairers do things that some could do themselves, doesn’t mean that the credit repairer is committing a crime offering assistance. Contrary to what Legal aid industry personnel claim.

Not all credit repairers are crooks. Just search for one who only charges purely on results. You don’t need Consumer Law Centre’s shoving info down your neck that we are practically criminals. Just because they catch on bad repairer out it does not automatically apply that all repairers are crook, although Consumer Law Centre’s would like you to believe so.

We will say it again, don’t pay money upfront for credit repair.

Credit repair is a waste of money !

Yes it is if results are not achieved. Results meaning defaults removed.

Some claim defaults can only be removed if placed incorrectly. NOT TRUE.

This is a fallacy that consumer law groups brainwash people with via social media and fake news.

The fact is that some creditors will remove defaults formed on a “no admission” basis. Meaning they will lift the default but first make you sign a disclaimer that you agree they have acted in accordance with all guidelines and laws regarding listing the default. No repercussions on them when they remove the default.

With the right knowledge and the right contacts this is a common remedy and normally attracts a condition that the debt amount is paid to the creditor throughout the process.

So it appears that law centres quite simply want all credit repairers to shut up shop. At bare minimum heavily regulate the industry.

Senate inquiries are not needed to waste tax payers money. The evidence is right in front of everyone’s faces already. Solution: make it LAW that no credit repairer charges a single cent until a result is achieved. Spend the money structuring that legislation, not wasting time on inquiries about something we know is already broken and something we already know the solution to.

Consumer law centre’s do assist people but they are also notorious for complaining and crying poor me when common sense remedies are sitting on the shelf right in front of them. But to be fair, it is their nature to be drama queens at times.

Be smart and use common sense. Don’t pay money upfront for credit repair ! and as for this article, where on earth did a homeless man get thousands of dollars together for credit repair ??? Unless the article is conveniently written. Hmmmm !


Benefits of using a Credit repair solicitor

Credit repair services

Why should I choose a solicitor for credit repair?

There are many credit repair services in Australia and only some of them use solicitors.

A credit repair solicitor is obliged to cover itself and clients with forms of industry indemnity.

Should something go wrong legally in the process and adverse implications arise then you are normally covered when using a solicitor for credit repair.

Credit repair solicitors have trained long and hard to high standards in gaining their qualifications. This means you normally have a representative with high professional standards.

Certain pitfalls for credit repairers who are not qualified solicitors normally include overlooking legal avenues which can be used to your advantage.

After all, you are engaging a professional to handle your important affairs in the trust that they know what they are doing.

Always choose a solicitor for credit repair. Avoid dodgy practices who charge money upfront.

Untrained dodgy credit repair companies not only place you at risk, but generally give the rest on the industry a bad name.

For inquiries regarding your credit file feel free to contact us with any queries and we will be happy to assist in advising you on the best direction.

Can credit repair help me?

Can credit repair help me?

Credit file information

Many claim credit repair can help and many claim it cannot! So can credit repair help me?

So here’s the verdict?

Quite simply credit repair can help if it is successful. Whether you do it or have someone do it for you.

Some companies are capable and some are not. Normally the ones who are not charge upfront fees. In fact in almost all cases.

That’s because getting paid on results would see them go broke.

So that’s the first important piece of information, never pay upfront fees of any description.

Never pay any type of upfront fees. Ever.

Now there are Govt agencies and charity legal services or advisory services that just hate seeing people make money out of this industry.

These Govt agencies and advisory services try their damnedest to steer you away from credit repairers. They constantly reiterate you can do it your self. (even though they say in the next breath that credit repair cannot be done. Work that one out.)

So here’s a bit of info on that aspect.

Yes you can do it your self. Regardless of whether you know what to do or not, you can do it yourself. You may not be successful but you can try it yourself. That’s sort of stating the obvious.

You can fix your own car, you can build your own house, you can fix your own anything if you know what to do.

When you employ a competent credit repairer you are trusting that they know what they are doing.

Use a credit repair solicitor. Don’t use hacks!

Picking a credit repairer who charges on results only sorts that part out. Put simply, those who can’t repair don’t stay in business if charging a no win no fee basis.

Can credit repair help? of course it can if done right.

You can cook your own steak but people go and eat out and pay for someone to cook it for them. Why? because chances are the restaurant should be able to do a good job as they are doing it every day for a living.

So apply that theory to credit repair. Competent credit repairers should know the fastest avenue to dealing with a creditor who has listed a default against you. Time is of the essence and being run around by a creditors doesn’t help. And they will run you around.

Competent credit repairers should also know what law and guidelines apply and this is where a solicitor carrying out the repair gives an advantage.

Additionally they should be able top prepare your case in such a way that it is concrete and sound when presented to a creditor or governing body.

Provide your repairer with all of the facts. Don’t edit them!

So yes, you can try it all yourself and no one is stopping you. But we bet you will not get the result that a professional credit repair solicitor gets who charges on a no win no fee basis.

Unless you have your finger on the pulse, know the laws and guidelines, know the right avenues to take then a pro will have the drop on you.

Why don’t these Govt agencies and advisory services allocate more time to telling people they can fix their own car? Give the mechanics are hard time. Or build your own house and give the builders a hard time.

Fact is these agencies are labelling ALL credit repair companies as dodgy just without saying it directly. They should instead be warning consumers of dodgy companies and educating consumers to look for assistance from a company who charges zero upfront fees.

That would be a useful and practical approach that would help everyone.

Can credit repair help? Of course it can.