Lisa Brewster

About Lisa Brewster

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So far Lisa Brewster has created 107 blog entries.

Could carry-over credit card debt be the undoing of many a home loan?

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 www.mycralawyers.com.au. You can read my guest post from The Adviser in full below: Could carry-over credit card debt be the undoing of many a home loan? Australia’s new credit laws will place late-paying clients of licenced credit [...]

2017-09-05T05:25:01+10:00Comments Off on Could carry-over credit card debt be the undoing of many a home loan?
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Late payment grace period extended to 14 days

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 card or loan account before they cop the new type of bad credit a ‘late payment’ notation. We look at the details of this important change and what this means for you and your credit rating. By [...]

2017-09-05T05:25:01+10:00Comments Off on Late payment grace period extended to 14 days
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New credit laws: journo tells it like it really is

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 about fairness, and which are frequently conveyed to the general public are often shaped by players who have had a vested interest in this legislation. Sometimes what we read is not the whole picture of what’s really [...]

2017-09-05T05:25:01+10:00Comments Off on New credit laws: journo tells it like it really is
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Why you really don’t want to be late with your credit card

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 as your credit card may show up on your credit file. This could impact you and your ability to obtain credit. We look at what you need to know about your repayment habits, and give you some [...]

2017-09-05T05:25:01+10:00Comments Off on Why you really don’t want to be late with your credit card
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6 Tips For a Clean Credit File

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 from March 12 – repayments on accounts such as credit cards and loans made more than 5 days late may see you end up with a notation against your name for 2 years. It’s heavy stuff. We [...]

2017-09-05T05:25:01+10:00Comments Off on 6 Tips For a Clean Credit File
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Credit reporting in Australia your questions answered on bad credit

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 out what you may not know about credit in Australia. By Graham Doessel, Non-Legal Director of MyCRA Lawyers www.mycralawyers.com.au. I have paid my credit card bill late, what are the consequences of this? Accounts like your credit [...]

2017-09-05T05:25:01+10:00Comments Off on Credit reporting in Australia your questions answered on bad credit
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Credit reporting in Australia – your questions answered

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 feel it’s important to educate consumers about credit in Australia, so we look at the credit file basics, and what you should know about taking on credit in Australia. By Graham Doessel, Non-Legal Director of MyCRA Lawyers [...]

2017-09-05T05:25:01+10:00Comments Off on Credit reporting in Australia – your questions answered
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Unemployed? 8 ways to keep your credit rating safe.

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 a temporary setback become the thorn in your side that remains for between 2 and 5 years. We look at the 8 most important things to do when you lose your job to help save your clean [...]

2017-09-05T05:25:01+10:00Comments Off on Unemployed? 8 ways to keep your credit rating safe.
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Know about your credit score before you buy a home.

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 being locked out of a home loan. On March 12, Australia moved to ‘comprehensive credit reporting' when amendments to the Privacy Act had final implementation. Mr Doessel, Non-Legal Director of MyCRA Lawyers, a firm focused on credit [...]

2017-09-05T05:25:02+10:00Comments Off on Know about your credit score before you buy a home.
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How your credit rating can be damaged when you move.

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 to get a loan in the future when moving house. By Graham Doessel Founder and Non-Legal Director of MyCRA Lawyers www.mycralawyers.com.au. Moving is a time of stress and chaos. All of your important stuff is boxed up [...]

2017-09-05T05:25:02+10:00Comments Off on How your credit rating can be damaged when you move.
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