Credit Repair Frequently Asked Questions

What is a Credit File?
A credit file is a data base which holds all information gathered about you or your organisation that is relevant to a credit provider in determining whether you are credit worthy.

How do I get a copy of my credit file?
You are entitled to a free copy of your credit report. This can be requested from the 2 major credit reporting agencies Veda Advantage and Dunn and Bradstreet.

What can be on my credit report?
Personal information such as your name, date of birth, driver’s license number, current address and employment. Financial information such as overdue accounts, default notices, applications for credit, current credit providers and public and court proceedings that you may have. Commercial information such as directorship is also listed.

Who are the credit reporting agencies?
Veda Advantage: www.vedaadvantage.com Ph: 1300 762 207
Dun & Bradstreet: www.dnb.com.au Ph: 132333

How does my credit report affect me?
Credit providers use the credit reporting system to determine your credit worthiness. Defaults, overdue payments and court proceedings on your credit file may increase your credit risk to credit providers and subsequently result in rejection for credit.

How long is information held on my credit file?
Court Writs & Summons – 4 years
Payment defaults, Court Judgments & Credit enquiries – 5 years
Bankruptcy, Debt Agreements, Personal Insolvency Agreements, and Clearouts – 7 years
Directorships – 10 years

What information on my credit report do lenders use?
Credit providers will use information such as defaults (paid and unpaid), overdue payments (paid and unpaid), bankruptcies and the number of enquiries when assessing an application. Credit providers will also use your personal information listed on your credit file.

Can I repair my credit file?
If you believe that you have genuine unfair listings or disputes on your credit file / information that you believe should never have been listed then you can have it removed from your credit file. Debt Negotiators team have the expertise and contacts to remove unfair and disputable listing from your credit file / information.

How long does this process take?
The process, whether your credit repair application is successful or unsuccessful will take approximately 35 working days.

Do you provide guarantee to fix my credit file?
No, we cannot guarantee that you application will be successful. If your application is unsuccessful we will review your application and attempt to resubmit it for you.

How successful is your company at removing repairing credit files?
We have a team of people that have the knowledge, contacts and expertise in assisting with dealing with your credit repair solution. This expertise has allowed us to have a higher than average success rate with dealing with the removal of unjust listings on credit files.