WHAT IS A CREDIT FILE?

A credit file is information about and individual or organization that is relevant to a credit provider or trade lender in determining if that individual or organization is credit worthy. Not every person has a credit file. If you have applied for fiance in the last 5 Years you are more likely than not to have one. You will also have a credit file if you have applied for services such as telephone, gas or electricity.

HOW LONG IS INFORMATION HELD ON A CREDIT FILE?

• 10 Years External Administration & Previous Directorships.
• 7 Years Bankruptcy, Part 9 Debt Agreements & Clearouts.
• 5 Years Payment Defaults, Court Judgments & Credit Enquiries.
• 4 Years Court Writs & Summons.

HOW DO I GET A COPY OF MY CREDIT REPORT?

The Privacy Act 1988 (Comm), provides that everybody is entailed to a copy of their credit file. This may be obtained by contacting Veda Advantage who a the largest credit reporting agency in Australia. It should be noted Veda charge a small fee should the report be required immediately within (10) working days. As part of our service and commitment to you, if the Services of Joseph Trimarchi & Associates are retained we obtain a copy of your credit report as part of that retainer.

WHO ARE THE MAIN CREDIT REPORTING AGENCIES IN AUSTRALIA?

There are two(2). Veda Advantage & Dunn and Bradstreet.

HOW MUCH DOES IT COST TO REPAIR MY CREDIT FILE?

Cheaper than you think. We charge a small administration fee at the beginning of the retainer. We then charge an improvement fee for each improvement we achieve on your credit file. If we do not improve your credit file we do not charge an improvement fee. Our fees are cheaper than most Credit Repair Companies, the difference is, you are dealing with Lawyers who are ethical, professional and experts in the legislation surrounding credit reporting in Australia.

ARE CREDIT REPAIR COMPANIES TRUSTWORTHY?

In some cases no. Credit repair or credit restoration companies offer credit repair services without having formal qualifications or specific training in this complex field of law. Joseph Trimarchi & Associates are a law firm admitted to practice law in the Supreme Court of NSW & the High Court of Australia. We are highly specialized in this field of Law and we abide by a strict code of conduct imposed upon us by the Law Society of New South Wales.

WHAT TYPE OF LISTINGS APPEAR ON A CREDIT FILE?

• Defaults
• Judgments
• Cross references
• Bankruptcys & Part 9 Debt Agreements
• Credit enquirys
• Previous directorships

Recently the government made wide sweeping changes to the Australian Credit Reporting System, by implementing recommendations put forward by the Australian Law Reform Commission. We will move from a negative credit reporting system to a more comprehensive system allowing credit providers to record more information on your credit file.

The changes to credit reporting in Australia are complex. Joseph Trimarchi & Associates have a complete understanding of the system which now presents. We hope to benefit our clients with our knowledge in this area of law.

WHAT CAN BE IMPROVED ON A CREDIT FILE?

Only disputable, incorrect or inaccurate listings may be disputed, therefore improving your credit file.

HOW LONG DOES IT TAKE TO REPAIR A CREDIT FILE?

Each case is different. However we aim to improve your credit file within (30) days. In most cases this achievable.

CAN I REPAIR MY OWN CREDIT FILE?

Yes you can. However firms like Joseph Trimarchi & Associates specialize in this area of Law and as such may achieve results for you in a quicker more time efficient manner.

WHAT ARE THE BENEFITS OF IMPROVING MY CREDIT FILE?

• Borrowing money at a competitive rate of interest.
• Being able to open trade accounts.
• Having your credit report reflect your true credit position.
• Not having to apply for bad credit or non conforming loans.
• Not having to offer explanations as to why defaults or judgments appear on your credit report.

WHAT DO I DO IF I HAVE QUESTIONS?

Simply give us a call for a no obligation confidential chat.

Make an online express enquiry now or contact us for a no obligation chat on (02) 98904811