In my recent guest post for broker publication The Adviser, I discuss repayment history and credit card accounts, looking at how Australia's new credit laws could change the playing field for borrowers and brokers, and how repayment history could impact credit ratings and the approval of home loans. By Graham Doessel, Non-Legal Director MyCRA Lawyers [...]
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So far Lisa Brewster has created 107 blog entries.
An application by the Australian Retail Credit Association (ARCA) to extend the 5 day 'grace period' to 14 days for late payment information on credit reports was approved by the Information Commissioner late last week. The amendment to the Credit Reporting Privacy (CR) Code will mean consumers will have more time to pay their credit [...]
As consumer advocates interested in accurate credit reporting, rarely would we consider the press to have a great grasp of credit reporting and the issues consumers face, and even less so with the wider coverage of comprehensive credit reporting that has occurred to date. It’s not their fault really – but their views and ideas [...]
Do you have a credit card that you regularly let loose on? If you have trouble paying it back, you need to know that big brother may be watching YOU! Australia’s credit laws have just had a major overhaul. One of the biggest changes affecting you will be that your repayment history on accounts such [...]
Currently, we are seeing lots of people running into trouble with their credit rating. If you end up in trouble with a default on your credit file, it sticks for 5 years and can be a real thorn in your side when you go to apply for credit again. With new laws now in place [...]
Australia has just undergone a major credit reporting change. If you don't know much about credit reporting, then you could be at risk of messing up your credit rating. Yesterday, we answered your basic questions on credit reporting. Today we answer more of your questions on bad credit and what to do about it. Find [...]
There are some credit reporting changes just arrived which may affect you and your ability to get a home loan, a car loan or any other type of credit. Obtaining credit in Australia may be a little different from now on, as since March 12 Australia has stepped into a comprehensive credit reporting regime. We [...]
What happens to your credit rating when you lose your job? There are some things you can do when you face unemployment to reduce the likelihood that your credit rating will suffer. Unemployment is often just a temporary setback. But if during the time you’re unemployed you lose your good credit rating, you could see [...]
Media Release Know about your credit score before you buy a home. 27 March 2014 A massive overhaul of Australian credit reporting law now means big brother is watching you like never before, and a consumer advocate for accurate credit reporting says there are some actions you should take now to minimise your risk of [...]
Did you know, that every time you move house, you run the risk of damaging your credit rating? It happens if loose ends are not tied up on your credit accounts before you leave your old address. We look at some ways you can make sure you don’t risk your good credit rating, and ability [...]