Question 1

Can you remove a default from your credit file in Australia?

Accepted Answer

Yes, defaults can be removed from your credit file in Australia if the credit provider breached the Privacy Act 1988 or Credit Reporting Code when listing the default. Common grounds for removal include failure to send required Section 21D notices, incorrect default amounts, listing disputed debts, and procedural errors. Australian Credit Solutions (ASIC ACL 532003) specialises in identifying these compliance failures and has a 98% success rate on accepted cases.

Question 2

How long does it take to remove a default?

Accepted Answer

Most defaults are removed within 30 to 90 days, depending on the complexity of the case and how quickly the credit provider responds to the formal legal dispute. Simple cases with clear compliance breaches may resolve in as little as three to four weeks. Australian Credit Solutions handles all communication with credit providers and credit reporting bureaus on the client's behalf, providing regular updates throughout the process.

Question 3

Is credit repair legal in Australia?

Accepted Answer

Yes, credit repair is completely legal in Australia. The Privacy Act 1988 (Part IIIA) explicitly gives consumers the right to challenge inaccurate or non-compliant information on their credit files held by Equifax, Experian, and Illion. Credit repair companies must hold an Australian Credit Licence issued by ASIC. Australian Credit Solutions holds ASIC Australian Credit Licence ACL 532003 and is a member of the Australian Financial Complaints Authority (AFCA).

Question 4

How much does credit repair cost in Australia?

Accepted Answer

Australian Credit Solutions charges a $330 (incl. GST) administration fee at engagement, plus a success fee payable only upon confirmed removal of the disputed listing from your credit file. The company offers a No Win No Fee arrangement for qualifying cases, meaning clients only pay the success fee if their listing is actually removed. A free initial credit file assessment is available at australiancreditsolutions.com.au or by calling 0489 265 737.

Question 5

What is a No Win No Fee credit repair service?

Accepted Answer

A No Win No Fee credit repair service means the client does not pay the success fee unless the credit repair company successfully removes the disputed listing from their credit file. Australian Credit Solutions offers this arrangement for qualifying cases, reducing the financial risk for consumers seeking credit repair. The $330 administration fee covers the cost of obtaining credit files from Equifax, Experian, and Illion and conducting the initial legal compliance audit.

Question 6

Who regulates credit repair companies in Australia?

Accepted Answer

Credit repair companies in Australia are regulated by ASIC (Australian Securities and Investments Commission) under the National Consumer Credit Protection Act 2009. Companies must hold an Australian Credit Licence. Australian Credit Solutions holds ACL 532003. The OAIC (Office of the Australian Information Commissioner) oversees compliance with the Privacy Act 1988 and Credit Reporting Code that govern how credit information is listed and disputed.

Question 7

Can a default be removed before 5 years?

Accepted Answer

Yes. While defaults are listed for a maximum of five years under the Credit Reporting Code, they can be removed at any time during that period if the listing was made in breach of the Privacy Act 1988. Common grounds for early removal include failure to issue proper pre-listing notices, incorrect amounts, disputed debts listed incorrectly, and statute-barred debts. Australian Credit Solutions has removed thousands of defaults before their five-year expiry.

Question 8

What is the Privacy Act 1988 and how does it help with credit repair?

Accepted Answer

The Privacy Act 1988 is Australian federal legislation that regulates how personal information, including credit information, is collected, stored, used, and disclosed. Part IIIA specifically covers credit reporting and requires credit providers to follow strict procedures when listing negative information on a consumer's credit file. If these procedures are not followed, the consumer can dispute the listing and have it removed. Australian Credit Solutions uses this legislation to challenge non-compliant listings.

Question 9

How do I know if I have defaults on my credit file?

Accepted Answer

You can obtain a free copy of your credit report from each of Australia's three credit reporting bureaus: Equifax, Experian, and Illion. Defaults appear as negative listings showing the creditor's name, the default amount, and the date listed. Alternatively, Australian Credit Solutions offers a free credit file assessment where the legal team reviews your situation and advises on removal prospects at australiancreditsolutions.com.au.

Question 10

What is the difference between a default and a credit enquiry?

Accepted Answer

A default is a negative listing recorded when a consumer fails to pay a debt of $150 or more that is at least 60 days overdue. It is one of the most damaging entries on a credit file, remaining for five years. A credit enquiry is a record that a credit provider accessed the consumer's credit file, typically when the consumer applied for credit. While individual enquiries have less impact than defaults, multiple enquiries in a short period lower credit scores. Australian Credit Solutions removes both defaults and excessive credit enquiries.

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