It’s a good idea to do regular credit checks so that you can have a clear understanding of your finances and your borrowing power before you apply for any new loans or credit cards. Your credit report contains information about your credit history, such as how you have handled previous credit accounts (like loans), as well as any defaults or bankruptcies and enquiry information. Credit reports are used by lenders to help them decide whether to offer you a loan or not.
Your credit score is a numerical representation of the information in your credit report. Lenders look at this score to determine:
- Whether you could afford to meet loan repayments
- How much they’re willing to lend you for a home
- What interest rate to charge you
- What your credit limit should be on a credit card
- Whether you should be approved or rejected for a loan or a credit card
Checking your credit score regularly can help you keep on top on your financial reputation and improve your chance of a credit application being approved, whilst checking your credit report also ensures you have a comprehensive understanding of your credit history and allows you identify and address any errors. As well as affecting your ability to get credit, incorrect personal details or listings can alert you to things like identity theft, where other people use your personal information for financial gain.
You may have a report with more than one Credit Reporting Agency, so you should check with all three of the major credit reporting bodies in Australia – Equifax, Experian and illion. You can get free copies of your credit report directly from the Credit Reporting Agencies, alternatively, Fix Bad Credit can order your credit reports on your behalf, at no cost.
Doing a credit check before you apply for credit will enable you to feel more confident that you will be offered good credit. If there is a problem with your credit report the Fix Bad Credit consultants can conduct a free comprehensive credit review of your financial situation and advise personalised, tailored credit or debt solution options specific to your situation.
On-going credit checks will enable you to regularly review and reassess your credit report, so you can continue to improve your credit score and identify any potential problems early, before they cost you money.
Case Studies & Results
How We Helped Jeff M To Remove Defaults & Secure Finance
When Jeff M. came to Fix Bad Credit he had three defaults on his credit report, two with banks and one with a utility company (Electricity provider). Jeff M. is a Painter, and works as a self-employed sole trader. When these three defaults occurred, Jeff M. had not been paid by a builder for a job he had completed 4 months earlier. This had impacted his cash flow, and his ability to pay his bills. Unfortunately, these defaults had a disastrous effect on his credit report, lowering his previously healthy credit score to 412.
How we helped:
- We negotiated with all three credit providers and arranged for the three default listings to be removed
- This had the immediate effect of increasing Jeff M’s credit score by 395 points to 807.
- With a clean credit report and an increased credit score
After working with Fix Bad Credit Jeff M was now able to secure finance for his business.
How We Helped JK To Become Debt Free In 24 Months
J.K. is a single mother, recently separated from her partner. Due to her partners bad credit score, they had been unable to obtain finance, and during their relationship J.K. had the loans, credit cards, and car finance all in her name. After they separated her partner refused to take any responsibility for the loans. Unfortunately, the debts became too much for her and it wasn’t long before the debt collectors started calling, and the financial stress became unbearable.
How we helped:
- We immediately made the debt collector calls stop.
- We assessed her financial situation, and helped her to put together an achievable budget that worked for her.
- Negotiated a payment plan with J.K.’s creditors to pay back cents in the dollar.
- Within 24 months J.K. was debt free.
By working with Fix Bad Credit, J.K. freed herself from the financial noose around her neck that was strangling the life from her. She is now saving for a deposit and looking to buy her own house, for her and her child.
How It Works
Becoming Financially Free Is Easier Than You Think
Step 1: Identify
Asking for help is the hardest part; we offer a discreet, no-obligation and risk-free credit assessment to understand your unique credit situation.
Step 2: Plan
After identifying your credit woes, we will provide you with a tailored strategy with recommendations for improving your credit, reducing debt and managing any repayments.
Step 3: Repair
As soon as you signup we’ll provide you with a direct point of contact who is available at any time and will assist you each step of the way to implement your credit and debt solution strategy.
Step 4: Monitor
We offer an on-going service to continue to monitor your credit situation, regularly reviewing any changes to your credit score and identifying potential problems before they affect your financial well-being.
Why Customers Love
Fix Bad Credit
“I was very happy to find a great service in Fix Bad Credit. I would definitely recommend their service to anyone who is having difficulty getting a loan.”
“I applied for a credit card, and was declined. That’s when I discovered I had an issue with my credit score. Thanks for the team at Fix Bad Credit for making the pain go away. Fantastic to deal with.”
“I had a default on my credit report that was preventing us from getting a mortgage. The stress it caused my wife and I was horrible. Fix Bad Credit provided us with the light at the end of the tunnel, and we now have our own house! I cannot thank you enough.”
“I struggled to get decent credit offers for more than five years. After finally signing up with Fix Bad Credit, my credit score improved within six weeks and I now have a great loan offer! Life-changing.”
I had a default on my credit report that was preventing us from getting a mortgage. The stress it caused my wife and I was horrible. Fix Bad Credit provided us with the light at the end of the table, and we now have our own house! I cannot thank you enough.