Credit Repair Company to Clean Credit Report?

I have a question.

I have few entry in my credit report. So this make my credit report score to be bellow average. Now I have spoken to credit repair company in Queensland and they assure me that they can remove the credit enquires and once it's done my credit will be good again.

Anyone have any idea if that's possible to be done by myself?

Thanks

Comments

  • Depends on what the defaults etc were…
    View your report and contact them yourself

  • I've never heard of bad credit history being able to be removed easily!

    I once had a fraudulent charge on my credit card and i was told (by the credit card company themselves!!) not to pay it until it was investigated by the credit card company and dealt with. Well they recorded that non payment as a default on my otherwise immaculate credit report…even after the charge was proven to be fraud!

    I ended up having to spend WEEKS fighting it, then eventually had to take it to the ombudsman before they finally removed it off my credit report and my clean history was back to normal.

    So I would be very cynical of the ability for some random "credit repair" company to fix your credit report easily and at low cost. Especially if you have actually genuinely bad credit history!

    There is a reason these things are hard to change….because a lot of institutions rely on your credit reports for an accurate representation of your financial history and credit worthiness. If it was so easy to "clean up" they wouldn't be worth anything.

    • Had a similar case, took me almost a year to sort it out with CBA and eventually remove that non-payment from my history.

  • Hey thanks I got no defaults and nothing bad just one to many enquires that I made, but I didn't know was going to affect my credit. These company's guarantee that they can remove them but honestly not sure how.

    • Enquiries drop off after 5 years

      my credit report score

      Assume you are referring to credit savvy/simple/etc
      Wouldn't worry too much, your score will change monthly depending on what product they're pushing.

    • Enquiries are not a big deal if the rest of your history is clean.

  • +11 votes

    You are getting scammed

  • If it is just enquiries then you should not bother.

    Your score should not be that low. Enquiries do not reduce the score by much.

    Just stop applying.

    Enquiries do stay on your report for five years. However, they typically have very little impact once they are more than 6-12 months old.

    Unless you want to apply for a home loan in the next 6 months, it does not matter. No use paying some scammers to do something they can't actually do.

  • How much are they charging you for this ‘service’?

    • 50 a week

      • For how long? What guarantees have they made? Exactly what do you get for your money? Who is the company?

        I suggest you cancel this service immediately (it sounds like a ripoff). If there are any errors in your credit file - for example, enquiries that were not authorised by you, or duplicate enquiries, then you can contact the relevant company directly and ask them to fix your credit file.

        If you have made genuine enquiries, or you've got a few black marks because you've missed payments, they cannot be removed from your credit file and I question how the Qld company is going to help you do anything but lighten your wallet…

        • For how long? What guarantees have they made? Exactly what do you get for your money? Who is the company?

          Some companies will guarantee that they will remove credit listings or they won't charge you.

          In terms of what you're getting for your money, they do all the legwork for you. That includes tracking down the creditor who has left notes/marks on your credit file, and then auditing the default to check that they followed the right process. In instances where the due legal process hasn't been followed, they ca negotiate on your behalf to have it removed.

          I suggest you cancel this service immediately (it sounds like a ripoff).

          It sounds like you've never used the service before, but that doesn't mean it's a rip-off. Credit repair companies charge high fees but they do usually deliver on what they promise. For someone who's being held back on a home loan or phone plan because of a bad credit file (and without the time to get it removed themselves), it can be a worthwhile service.

          you can contact the relevant company directly and ask them to fix your credit file.

          You can, but they probably won't listen to you if you don't know the proper legislations or cite the relevant statutes that apply to your situation.

          Credit repair companies are like lawyers. They can argue on your behalf with superior knowledge of the financial industry and the relevant laws that apply.

  • Avoid credit repair companies that claim they can clean up this sort of thing or fix your debt. They may not be able to do what they say. They may also charge you high fees for things you can do by yourself for free.

    Paying a credit repair company is unlikely to improve your credit score.

    https://moneysmart.gov.au/managing-debt/credit-repair

  • I have worked with credit repair companies in the past. They have a bad reputation because a lot of them were making false claims and misleading customers. ASIC has recently cracked down on the sector to make sure they follow the rules.

    A credit repair company can help you fix your credit file. It's usually faster and easier than doing it yourself. If you really need to apply for a loan or something, it's worth doing, unless you're happy to waste time arguing with financial companies yourself. Some people don't have the energy for that.

    • What do you mean by 'fix'? Remove legitimate enquiries and defaults?

      The person says they only have enquiries, and I assume they were legitimate. So, they are not going to be removed.

      The person has not mentioned the number of enquiries, and over what time period, but I will assume it's relatively small.

      If someone has 'bad credit' based solely on enquiries, then they must have a very short history. Just stop applying for the next 6 months, and make sure you do repayments. Removing those enquiries will not greatly increase your score anyway.

  • Exactly, it sounds like they were legitimate enquiries. The OP would have signed something or ticked something online to give consent to a credit check. Just because they did not read the T&Cs and did not realise multiple credit enquiries over a short period of time could impact their credit score, does not mean the enquiries can be removed.

  • Sorry guys I been busy at work.
    I have 33 enquires in my name that I can assure you I only made 2 of them. Last one is when I found that my loan was declined for a car due large number of enquires, I believe but can't proof that when I sold a car that person took a picture of my licence and since I been having this issues, hence why I'm trying get this fixed .

    • You should go to the three reporting companies (Equifax, Illion and Experian) and tell them that some idiot put 30 enquiries on your report in a short space of time, and you want duplicates removed.

      Just go to the website, they will have a 'contact us' section, and you can just put in a few sentences.

      They will reply and ask for ID, and then fix it.