Credit Repair explained to you in one simple blog post.
Hi Victoria, here, CEO of Credit Fix Solutions, licenced credit repair specialist.
And today I’d like to talk to you a little bit about credit repair, how it works, what you can do yourself and what we do as a credit repair specialist.
Now lots of people will think, oh, credit repair. I can do that. It’s easy.
And yes, of course you can try and do it yourself.
You can even lodge a corrections request yourself through to the credit reporting agencies like Equifax, for example.
Watch the video explainer below:
But the thing is, is that to remove a default, for example, from your credit report, you have to find that the lender has done something wrong.
Now that in turn implies that they’ve done something wrong as per the legislation.
Now with consumer defaults, that’s the credit reporting code, and that’s what we specialize in.
So, I’ve done thousands of cases and I’ve been doing credit repair for many, many years now.
For example, we have a client who has a default with a credit card. Now they’re not sure whether they can get that removed themselves.
It’s a $10,000 default, it’s impacting them from being able to get a home loan, to be able to remove that default, you have to go to that bank called lender and you have to ask them to remove it as per legislation, as I said, but do you understand the legislation?
Now, if you do lodge a corrections request with a credit reporting agency example, they’ll only look at a couple of aspects of the account leading up to the time that the default was listed.
They can’t look at your entire case. For example, you have extenuating circumstances, if there was a dispute leading up to the time of the default, if someone’s passed away, someone’s got sick.
They can’t look at all of that for you because they’re not a resolutions team.
They’re just a credit reporting agency.
So, to do it properly, you need to go to your lender first and you need to look at all the documents on the account to find an error.
And that’s what we do.
That’s what a credit repair company should do.
If they’re doing it properly, now you can find cheaper options, but are they doing all of that work?
It’s at least 10 hours, at least three to eight weeks.
If you add that all up, it’s many hours’ worth of work.
So you can have a cheaper option with a credit repair company, but they might just be lodging an Equifax corrections, for example, which you can do yourself.
So, credit repair. Yes, it does work. Yes. You can try yourself. Yes. You can lodge a corrections, request yourself, but if it’s complex and you feel like you need to on one to do a really good job for you, that’s what we are here to do.
We only charge you if and when we get a successful result, and you’re in good hands.
You can call us up for a free assessment.
We’ll go through your credit reports with you.
It’s as simple as that, it’s completely no obligation.
We’ll spend as much time as we need to with you on the phone.
We look forward to hearing from you.
If you do need help with your credit reports and thank you for your time.
This post and video are for informational purposes only and not deemed financial advice.
If you are currently experiencing financial hardship we cannot help you.
You can call the National Debt Helpline on 1800 007 007 for free financial advice.