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Overview of Credit Law Australia
Credit Law Australia will provide you with a
legal assessment on whether the financial difficulties that
you experienced when you applied for finance are as a result
of your past financial dealings and if there is any mechanism
available to you to possibly rectify the problem.
Credit Law Australia was deliberately and specifically
incorporated to achieve the best possible results for you
in the quickest possible time.
A further aim of Credit Law Australia is to
greatly reduce the legal fees that you are to be charged as
opposed to other legal firms in Australia that provide a similar
legal service. Credit Law Australia will generally charge
you a fixed fee and not on a time costing basis for providing
our legal services.
Credit Law Australia utilises the internet as
our primary form of communication with a prospective client.
This enables us to obtain information from you and from other
entities on a timely basis. This reduces the need to incur
unnecessary overheads which are then passed onto you which
other firms may do.
An example of a CRA listing bungle:
Over a period of five years Ms X was unable
to get credit which included 1 home loan and 6 personal loan
applications being rejected by potential credit providers.
Finally the last potential credit provider named her bad credit
report as the reason. Ms X subsequently found that her mobile
phone carrier had listed her as a default on her CRA file.
A few years previously, Ms X had got into arrears
with her mobile phone account, but she paid it off a short
while later. At no time did her mobile phone carrier tell
her it would list this incident on her credit report. In fact
she was still using the same mobile phone number.
The default on Ms X's CRA file was subsequently
cleared.
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If your finance application was
declined and you are not sure why, what can Credit Law Australia
do for you?
We will perform a comprehensive legal assessment
on the information that you supply and your CRA file to provide
you with:
- a written explanation as to what on your CRA file may
have caused your finance application to be declined by the
credit provider
- legal advice as to whether there is any possibly avenues
that may be available to rectify the problem(s) with your
CRA file Stage One Initial Assessment Report.
- If after reading Credit Law Australia's Stage One Initial
Assessment Report you decide to attempt to remove the problem(s)
from your CRA file, Credit Law Australia if you elect to
instruct us can then provide you with a further Stage Two
legal service which attempts to have the problem(s) removed
from your CRA file. The Stage Two - Applications to past
credit providers to remove problem(s).
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What is a CRA file?
In Australia, the major CRA is Baycorp Advantage
Business Information Services Ltd. which maintains a current
credit history file ON YOU. Other major CRA is Dun and Bradstreet.
Most credit providers in Australia subscribe
to Baycorp Advantage for your CRA file when you apply for
finance.
When you apply for finance the credit provider
will request that you agree to the release of a copy of your
CRA file by signing a privacy release authority. The credit
provider will then use the information n your CRA to determine
whether you are a good credit risk.
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What is the Stage Two - application
to rectify the problems on my CRA file mean?
If after Stage One, you and Credit Law Australia
believe that what actually appears on your CRA file is in
fact not the truth of what occurred in relation to one of
your past finance agreements. You may decide to instruct Credit
Law Australia at Stage Two.
We will attempt if possible to assist you in
removing the incorrect information from your CRA file. If
the incorrect information is removed, you are then able to
make another finance application which is then re-assessed
by the credit provider without the incorrect information being
supplied on your CRA file.
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