Credit Repair FAQ: Questions to Ask Before Choosing a Company

Yes, credit repair is completely legal in Australia. Under the Privacy Act 1988, you have the right to challenge incorrect, incomplete, or improperly listed information on your credit file. Licensed credit repair companies help exercise these legal rights on your behalf.

Yes, when done properly by licensed professionals. However, success depends on having valid grounds for challenging negative listings. Reputable companies only accept cases where creditors failed to follow proper procedures under Australian credit reporting laws.

No legitimate company can guarantee to remove all negative information. We can only remove information that was listed incorrectly or where creditors failed to follow proper legal procedures. Accurate information that was properly reported cannot be legally removed.

Most cases resolve quickly with professional assistance, though complex matters involving multiple agencies or legal proceedings may take longer. The resolution time depends on the specific issues and how quickly credit agencies and creditors respond to legal challenges.

No, legitimate credit repair cannot hurt your credit score. Successful removal of negative listings improves your score immediately, while unsuccessful challenges have no impact on your score.

You can dispute obvious errors yourself, but complex issues involving defaults, court judgments, or legal compliance violations typically require professional legal expertise. DIY success rates are 5-15% for complex issues vs 98% for professional services.

Costs vary by company and case complexity. Typical pricing includes an administration fee ($200-500) plus success fees only when items are removed ($400-800+ per item). Total costs usually range from $600-2,000+ depending on the number of issues.

Yes, reputable companies offer No Win No Fee arrangements where you only pay success fees when negative listings are actually removed from your credit file.

Legitimate companies may charge small administration fees to cover initial analysis and setup costs. However, avoid companies demanding large upfront payments before any work is done - this is often a red flag for scams.

For most people, yes. A single default can cost $10,000-50,000+ in higher interest rates over the life of a home loan. Professional credit repair typically costs $600-2,000, providing excellent ROI when successful.

The process typically involves: 1) Complete analysis of your credit files from all three agencies, 2) Legal review of negative listings for compliance violations, 3) Formal challenges submitted to agencies and creditors, 4) Follow-up and escalation until resolution.

You'll need to provide current credit reports or authorize the company to obtain them on your behalf. This is necessary to identify what negative information exists and determine removal strategies.

Yes, but it's recommended to avoid new credit applications during the repair process as these can create additional inquiries on your file. Focus on maintaining excellent payment history on existing accounts.

Reputable companies with No Win No Fee terms only charge when successful. If removal attempts fail, you typically don't pay success fees. However, small administration fees for initial work may still apply.