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Credit Repair 101: Repayment History Information and your Credit Report

Being a credit repair specialist, we are here to help with any credit report improvements.

However, more importantly, we are here to educate you on your credit report.

How you can protect and improve your credit report by yourself is, therefore, our ultimate goal.

Credit Repair 101 TIP: What is repayment history information?

Repayment history information is 24 months account history listed on your personal credit report.

This is for accounts such as your mortgage, personal loans and/or credit cards.

The 24 months shows whether you were on time or if you paid late, or if you were in hardship.

Now, a few years ago, we didn’t have our repayment history information recorded on our credit reports.

But, now we do, and it’s 24 months worth.

So, what happens if you’ve missed some payments?

Watch the video here:

credit repair

Well, it will pull your credit score down and potentially it could stop you from getting approval from certain lenders who offer the best interest rates.

So moving forward, go and have a look at your repayment dates, your due dates for your credit cards for your home loans.

Make sure you’re paying on time.

And it’s really important if you think that you’re going to miss one, get in touch with your lender straight away and make sure you organize some sort of plan.

So it doesn’t get listed on your credit report as a missed payment.

For more tips about credit reports and how to proactively look after them and protect them:

Send a contact form via the homepage here

This article is for informational purposes only and not deemed financial advice.

If you are currently experiencing financial hardship we cannot assist you.

You can call the National Debt Helpline on 1800 007 007

For finance tips you can go to www.moneysmart.gov.au

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