Paid and Unpaid Defaults

A consumer credit file contains information on consumer accounts that become overdue and reportable to a Credit Reporting Bureau (“CRB”)

The 2 most commonly used CRB’s in Australia are Equifax (formerly Veda) and Illion (formerly Dunn & Bradstreet)

Defaults can be listed on a credit file when an account over $150.00 has been due for over 60 days. This information may be reported on your credit file by the credit provider, this is referred to as a payment default. The default remains on the file for 5 years regardless of whether or not it is paid.

To remove defaults from a credit file, it must be established that an error has been made by a creditor where the creditor has failed to comply with all legislative requirements.

We provide AN OBLIGATION FREE CONSULTATION prior to accepting any fees or taking a file on.

If you have an unpaid default, we urge you to talk to us first before paying a default. Automatically paying a default will in normal circumstances only update the listing to “Paid” and will not remove the default listing from your credit file, this can still cause you problems in obtaining any finance.

Speak to one of our credit mediation experts and you can be assured of transparent and honest advice as to how to improve your credit file.

Call us today for a confidential discussion or Book a FREE NO OBLIGATION initial consultation below and we’ll get in touch with you to assess your situation.

Book a FREE NO OBLIGATION initial consultation