Credit Repair Scam 1 – Repaying Debt

There are a number of organisations who claim to be able to “repair” your credit by helping you pay back debt or slot you into a non conforming loan. However this rarely has a positive impact on your credit report. This is because Australia is one of the few countries in the world that runs off a negative credit reporting system. Therefore your credit report may contain listings such as each time you apply for credit, when you have overdue accounts or when you pay the account late and defaults etc. Your credit report does not display the bills, loans and credit cards you are paying on time.

Credit Repair Scam 2 – Borrow More Money

People claim that borrowing money or obtaining a small credit card will improve your credit rating. Again this is false for the same reason that paying back debt rarely improves your credit rating. On your credit report there is no room for positive listings such as your regular or “on time” repayments.

Credit Repair Scam 3 – Credit Repair Software

This is not so much a scam as it is useless in Australia. There are a number of organisations claiming that they can provide you with so called “credit repair software” to help you remove listings from your credit report. In some cases this may be true but we find that most of these programs are for use in America. This is of little benefit to Australians because the U.S. follows a positive credit reporting system.

Credit Repair Australia™ have been in operation since 2003 and have assisted thousands of people to successfully eliminate the negative listings from their credit report. We understand that people may be skeptical of credit repair this is why we offer a free face to face or over the phone consultation.

Credit Repair Australia™ can help you obtain a free copy of your credit report.