If you don't repair your credit, you will suffer the consequences of having bad credit. For instance, your loan application may be rejected, or you may not be eligible for a mortgage. But if you have an improved credit score, you increase your odds of having that loan or finance application approved.
1. Credit inquiries and court judgments will stay in your credit file for five years.
2. Bankruptcy, Clearouts, and Part 9 Debt Agreements remain in your credit file for seven years.
3. Summons and court writs stay in your credit file for four years.
4. Former directorships and external administration stay for ten years.
The default remains in your file for at least five years. The default remains in your credit file once your payment is at least $150 overdue for at least a couple of months or more. Generally, settling or paying a default will not remove the default since your file would be updated to show that you've paid for it.
Yes. But only if the company didn't follow legislation while listing the default, which makes it disputable.
Yes. Even Something as small as electricity, phone, or any utility bill can negatively affect on the interest on your loans and your finances.
Yes. But the outstanding debt will remain and must, therefore, be finalized.
Not necessarily. Our company operates throughout Australia and offers services through email, fax, and mail for the satisfaction of our customers. You can opt for our services in the comfort of your home.
While paying overdue accounts is highly recommended, it doesn't get rid of the credit file but only labels it as paid, and you're still categorized as credit impaired.
No. Judgements are processed in the courts while the default is listed by the provider directly to your credit report agency.
It would depend on how bad your situation is. But if you don't get results with the credit reporting bodies, we can apply with the proper courts or ombudsman for free.