Simply put, if the credit file listing has not been added fairly, has been added incorrectly, or you believe it should not be there at all, then there is a strong chance it can be removed.

If you make an application for finance, being loans, credit cards, mortgages, etc. your credit file is likely to be checked by the finance company or lender to verify you meet their lending conditions. The sorts of things that are recorded on your credit file can and most often do include:, the number of times you have applied for credit, the type of finance you applied for and the dollar amount of the loan you applied for.

There are 3 Credit Reporting Agencies in Australia. They are:

• Veda Advantage ( www.vedaadvantage.com.au )
• Dunn & Bradstreet ( www.dnb.com.au )
• Tasmanian Collection Service ( www.tascol.com.au )

Veda Advantage has the largest Consumer database of these Credit Reporting Agencies with an estimated 14,500,000 credit files or more.

In 2004 Catherine Wolthuinzen was the financial policy officer for the Australian Consumers Association (Now CHOICE Magazine) and she found that on a study of 50 subjects, 34% contained errors. This could mean that your credit file has a one in three chance of having errors you don't even know about.
(Default listings that are incorrect are legally entitled to be removed)
source: http://www.caslon.com.au/reportingprofile3.htm and The Age

If you are a Mortgage Broker, Please click HERE to go to the Brokers page.

We can remove any Default | Judgment | Overdue Account or Credit Enquiry that has been added to your credit file incorrectly or unjustly.

We will also look at Court Writs, Multiple files, Identity Theft damage, Clear Outs, and Court Actions.

See The Credit File Repair Process Flow Chart for information on how our Credit File restoration process works.

Generally speaking, if you have a relatively clean credit file it will give you a lot more benefits that could end up saving you $$$!

Cleaning up your Credit File could:

• Improve the interest rate you are offered
• Make the difference between an approval or a decline
• Give you wider choice with lenders and financiers
• Allow you to refinance at better terms
• Regain control of your finances

If you would like more information on having MyCRA help you to restore your Credit File, Please click HERE to get the MyCRA forms wizard to grab everything you need to begin the process.