The procedure at Credit Mend Australia begins with a detailed explanation of our process, a brief explanation of the credit laws and how we can assist you by restoring your credit file.
Upon receiving your written consent, our team will then perform a full credit check of all three credit files by explaining your current credit position and options moving forward.
We will audit the creditor requesting they provide all evidence of their procedures and protocol they undertook, before listing the default in reference to the credit laws and legislation.
Only once we have written confirmation from the creditor or plaintiff that they will remove your listing, we then charge a removal fee. If we cant remove it there’s simply no removal fee to pay.
The time that negative information stays on your credit file varies
depending on the type of listing
Defaults are listed on your report for five years, or seven years in the case of a Clearout or Serious credit infringement (this is when your creditor can’t contact you).
Summons & Writs remains on your credit file for five years.
Late and Missed Payments on loans and credit cards are recorded on your credit file for two years.
Bankruptcy is listed on your credit report for five years from the date you were declared bankrupt.
Debt Agreements are a form of bankruptcy, staying on your credit file for five years. You are discharged once your debt has been paid back in full.
Applications for credit, including loans, credit cards and more, are listed on your credit file for five years. These listings are included regardless of whether or not your application was approved.
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