Credit Repair FAQs

FAQ

  • How much do you charge?

    For repayment history, we have an upfront investigation fee of $99.00, which is non-refundable, and a $990.00 success fee per account rectified, payable only if we successfully fix the account.

    Real Credit Repairers, which is one of the only companies with a no-win, no success fee charge guarantee if we can't remove it, we will not charge the success fee. We have a small investigation start fee upon acceptance on a case-to-case basis, which is non-refundable at only $99.00. We also offer all your credit reports from Equifax illion and Experian with our fast track consult for only $89.95 with a full detailed analysis with our case officers so you know what your score and situation are and get advice on what's needed to improve your credit rating. 

    Each credit enquiry is $250.

    Our fees for successful removals are as follows:

    1. $1195.00 (including GST) for first removal, improvement and/or confirmation of conditional agreement to remove any Default and Serious Credit Infringement on your credit file when received in writing.

    2. $695.00 (including GST) per each subsequent removal, improvement and/or confirmation of conditional agreement to remove any Default and Serious Credit Infringement on your credit file when received in writing.

    3. $1495.00 (including GST) per removal, improvement and/or confirmation of conditional agreement to remove any Court Default Judgment or Summons/Writ on your credit file when received in writing.

    4. $1395.00 (including GST) per removall, improvement and/or confirmation of conditional agreement to remove any Commercial Defaults on your credit file when received in writing.

  • No company can guarantee a removal - but we have an impressive track record. We’re great at finding ways to dispute cases, because we are experts on the legalities and procedures involved.

  • We have a proven track record to get results quickly. We aim to have each case cleared in under 6 weeks from receiving the paperwork - with most clients getting a resolution within just 30 days.

General credit-related questions

  • A credit report is a file that contains information about you, your personal details and your financial history. Finance providers will use your credit report when deciding whether or not to give you a loan. Each lender has their own lending criteria and if you have ever applied for finance of any sort in the past, there is a high chance you have a credit report.

  • Your name (including any previously-known names), address, date of birth, and employment history. It also includes your history of applying for finance through various providers. Some of these can include: banks, phone companies, gas and electricity providers and more. Every time you apply for finance, the provider can view your credit history.

    Whenever you enquire about a loan or credit card and decide against taking the finance, such as shopping around for the best interest rates, this will appear on your file and have a negative impact.

    Your ability to repay your lenders the minimum amount on time is also recorded.

  • In Australia, there are three bureaus that banks or lenders approach to carry out a check: Equifax, Illion and Experian. Each bureau may hold different information about you. We investigate reports from all three reporting agencies. Each bureau will provide you with one free credit file every 3 months, which can take up to 10 days to receive.

  • A default is also known as an overdue account and is a type of negative listing (black mark). If you have an overdue account, this can be reported on your file. If the overdue account is $150 or more and more than 60 days overdue, it can be reported on your file.

    Negative listings can come from banks, phone companies, gas and electricity providers, furniture leasing and more.

    For commercial defaults, an overdue account can be listed if it is $100 or more. However, before a listing is placed on your file, a company must follow the right procedures according to legislation.

    We specialise in identifying non-compliant listings on your file and will make a legal request on your behalf for the marks to be removed from your file if companies have not followed the right procedures.

  • Unfortunately, every missed payment can have a negative lasting effect. Finance providers use automated systems to assess risk, which will flag any negative listing. Whether the amount was $150 or $5,000 and reached the collection stage, the credit provider can choose to report it on your credit file.

  • Court Writs and Summons – 5 Years

    Payment Defaults, Court Judgments, Credit Enquiries – 5 Years

    Serious Credit Infringements and Clear-outs – 7 Years

    Bankruptcy and Part 9 Debt Agreements – 5 Years

  • One small missed payment can affect your rating. Most finance providers use automated systems when determining risk; this technology reacts to any negative listing, whatever the size, or whether it has been paid. After changes to the law in March 2014, any repayments that are more than 14 days late can also affect your credit history.

    Your repayment history remains for two years, so you must ensure that you pay all your credit cards and loans on time - otherwise you will be flagged on your report as a late paying customer.

  • No. Companies will state that they will ‘update’ your credit file when you pay the account, but this is only updating the status to ‘paid’ - NOT removing the mark on your credit file.

    The default will remain on your credit file for 5 years. To remove the default earlier, you must challenge the default.