Bad Credit Q&A

Question: -

My son has just checked his credit rating as he and his partner plan to house buy next year.

He has 2 bad credits –

A Telstra overdue a/c of $300 – 3 years ago.

A 2^nd where his boss tried to sue him & there’s a charge fee in overdue (that boss then sold his bisiness to my son’s new boss, on condition that my son dropped his charge against him;

my son is a franchisee with that sold business).

He was told on Friday that it will cost $1K each for the 2 accounts to have the bad credit rate lifted, Plus a $900 fee = $3K in total

Are you aware of any other less expensive way the above can be done?

My son went ahead this morning with Credit Repair Australia for $2900 to work on getting his judgements lifted.

They sed they only charge $990, $350 up front, balance in instalments.

If they win the case, he pays $2900 all up, with payments via instalment.

I trust this is legitimate way and the usual fees.

Dominique’s Answer : -

I wouldn’t bother. It is very hard to get rid of disputed or unfair listings. Are they even disputed? If they are, then the best way would be to present your reasons to any lender with supporting documentation.

He can do it himself. I don’t understand what the franchise/business judgment is but if it’s a judgment that hasn’t been paid out or the judgment creditor has waived his right to be paid, he can just get this in writing and put it to Veda himself. If they won’t listen then just show the lender and tell them it’s being disputed. Check the precedent letters, there’s a precedent letter to Veda from a solicitor which he can just change to be from him. This is definitely a scam and surely not worth the $3K they’re charging.

Tagged as: debt management help, debt relief, debt rescue