How can I repair an issue on my credit report?

Your credit score is incredibly important if you want to borrow money – whether for commercial reasons or for personal reasons. You might be borrowing money for a car loan, a home loan or a personal loan for some other reason like a holiday. Some people consider a personal loan for things like debt consolidation. 

The better your credit score the better the loan term that you get. If you have a good credit score you’ll likely be able to get loans with lower interest rates and fewer fees.

But, sometimes there are issues with your credit report. Sometimes these are issues that you have caused and sometimes these issues are if there are listings on your credit report that are factually incorrect. 

If you are thinking about getting a loan you should think about getting a copy of your credit report. You’re looking for issues with the Credit Report Agency and also with creditors who may have lodged listings on your account.

Sometimes credit reporting agencies make mistakes like your name and date of birth. Sometimes there are listings on your account that you are going to want to dispute. Sometimes there are listings that just aren’t yours. 

If you notice a mistake it is possible to get it fixed. You could try to update this yourself by making requests to a credit reporting agency and/or disputing with creditors. This can be time-consuming and stressful for many. 

Or, you can get in touch with a credit repair specialist (like us) and we can work towards getting it resolved for you.

Here’s a basic rundown of the process that we’d follow.

  1. The first step is a no-obligation meeting to review your current situation, and share with you the options that you have going forward.
  2. Should you decide to proceed the next step is to collate all relevant information needed in order for us to be able to accurately contact the credit reporting agency and creditors.
  3. We contact credit reporting agencies on your behalf to dispute incorrect listings. We provide them with the information you have provided to us and negotiate with them to ensure listings are updated. This could include adding notes that default accounts have been paid or other similar updates. It could also include removing credit listings that are not yours.
  4. We then investigate, if required, whether there were any mistakes made in giving you the initial loan that resulted in the default, or in the creditors handling of the default. Any of these may give us an “in” which could allow us to remove the black mark against your credit.
  5. If required, for example, if the credit reporting agency won’t change the listing, we will then contact credit providers on your behalf to get them to update listings on your behalf. We will get credit providers to update or remove listings on your credit report based on the information you have provided us and using our expert negotiations skills.
  6. Once the creditors have updated us we will go back to the credit reporting agency and confirm that everything on your account has been updated.

This blog post gives you a basic update of the credit repair process we follow on your behalf. If you think there may be issues on your Report that need resolving please don’t hesitate to get in touch today so we can help you out.


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What is Credit Repair?

Credit repair is the process of removing negative and false entries in your credit report. Almost every Australian adult will have a credit report. If