Credit Improvement

If you are looking to apply for a credit or a loan product, or open an account, it is really important to know where you stand as a borrower.

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Have you checked your credit report, or credit score, and discovered it could do with improving? Your credit report contains information on your history with managing credit. Your credit score, calculated from the information in your credit report, is a number that indicates your trustworthy reputation for being able to repay your bills on time. It is calculated based on the information in your credit report. The higher your score, the more reliable you’ll appear to lenders.

Anyone who has ever applied for credit has a credit score. The credit reporting agencies in Australia have a credit score range of either 0 – 1000; or 0 – 1200. The higher your credit score the better your credit history. A low credit score could mean you have a significant negative event on your report such as a court judgement or bankruptcy. You could also have a number of payment defaults along with several credit enquiries.

A near-perfect credit score suggests you have a long history of paying your bills on time, have not gone for multiple credit applications over short periods of time and probably have a mortgage and/or investment property, so have a positive record of being disciplined with credit. Most credit scores are between 300 and 850. The higher the score, the better your credit rating. A good score is more than 500, so if your score is high, you should be able to get better offers from banks, telcos, insurance companies and utility companies.

A bad score can lead to companies being reluctant to lend to you, or charging you a higher interest rate.

If you don’t want to actively attempt to improve your credit score, the time that negative information stays on your credit report varies depending on the type of listing. But this could mean waiting up to 5 years, and in some cases, seven years before the negative information falls off your credit report. In the meantime, you may struggle to get loans or a credit card, or if you do you may have to pay higher interest rates. So, what’s your score?

EquifaxExperianCredit Simple (Illion)
Below Average/Weak0-5090-5491-299
A low score within this range means you’ve probably got payment defaults or other bad data on your report. such as behind in your payments, judgements or bankruptcy. Read on to find out more about how we can improve this score.
Average/Fair510-621550-624300-499
If your score is within the ranges above, you’re slightly below average. You likely haven’t got much to worry about on your credit report, but there are still things we can do to improve this score.
Good622-725625-699500-499
Nearly a quarter of Aussies are in this above band. Smaller things will push the score up, such as your credit age or having a mortgage.
Very Good/Great726-832700-799700-799
Nearly 50% of people in Australia fall into this category. If this is you, you’re probably paying your bills on time, but you might have a number of credit enquiries or applications for loans against your name.
Excellent833-1,200800-1,000800-1,000

You’re basically magical, and if you scored 100% you’re seriously a credit unicorn (among just 3.5% of Aussies). Scoring over 800 puts you into the high end of the score ranges, along with nearly a quarter of Aussies.

 

Source: Equifax, Experian and Credit Simple

Fix Bad Credit offers a CONFIDENTIAL FREE NO OBLIGATION REVIEW and ASSESSMENT of your credit. If we identify potential inaccuracies or errors in your credit report, our next step to develop options specific to your unique situation for improving your credit reputation, addressing any debt you may have and getting you back in control of your financial situation. If you agree to take us up on our offer to improve your credit, at this stage we enter into a formal agreement with you for credit repair. Our expert team then leaps into action, initiating investigations into those questionable listings in your report you want to be addressed, negotiating with your credit providers to fix or remove them from your report.

We’re not going to lie, improving your credit is not easy and it can also depend on how bad it is to start with. Some the things we will do on your behalf include:

Correct your personal details: Your current address, employment history and full names have to be accurate so as to prevent incorrect listings and to protect you against having your identity stolen.

Identify and deal with negative listings. Listings made in error can include debt listed twice, accounts that belong to someone else or debts incorrectly listed as defaults.

Have incorrect listings removed. If there are any incorrect or duplicate listings on your credit report we will dispute them with your creditor to get them cleared from your credit report.

Negotiate with lenders to repay or clear debts. With your permission and direction, we will negotiate with your credit provider on your behalf for a debt repayment plan that suits you, including, where possible, removing late or missed payments and defaults from your credit report.

While we work on your behalf to improve your credit history, we also provide you with information, tips & tools to continue to build your credit reputation, helping you:

Get back in control of your money, instead of letting your money situation control you.

Get on track to achieving financial freedom, and

Start living your best life!

At Fix Bad Credit, we cut through the confusing language, complicated finance jargon and pushy financial advice you’re probably used to. Instead, we use everyday simple language, ensuring you understand exactly what can be done to improve your credit, stop worrying about those never-ending bills and get rid of those pesky creditors and debt collectors.

So, if you’re ready to take back control of your finances contact Fix Bad Credit today for a free, no-obligation confidential review of your credit.

“Let Fix Bad Credit do all the work while you take all the credit”

Frequently Asked Questions

Can I really become debt free?

Our experienced team have been helping Australians get out of debt for over 10 years. No matter your unique situation, we have a solution to help you achieve a debt free life.

How can Fix Bad Credit help me with my debt?

Fix Bad Credit’s mission is to help you take control of your debt and achieve financial freedom. We will undertake a free confidential assessment of your current finances, taking the time to fully understand your unique financial situation to tailor the best debt solution options to meet your needs. We provide you with as much information as possible upfront, so you can make an informed and confident decision about the debt solution that’s best for your particular circumstances and budget. We then deal directly with your creditors, you only deal with the same friendly credit and debt solution expert that you have since day 1. We take care of the pain, so you can get on with living.

Does it cost to check my credit score?

No, you can request a free copy of your personal credit report online from the three Credit Reporting Agencies.

  • Equifax (previously known as Veda).
  • Experian Australia
  • Illion (formerly trading as Dun & Bradstreet Australia)

Alternatively, you can contact us, and we can order your credit reports on your behalf, at no cost.

How do I stop the debt collector calling me?
Working with Fix Bad Credit, our legal team will contact your creditors, and stop those annoying phone calls, once and for all. Your stress will be less and you’ll no longer need to worry every time your phone rings.