Your Credit File

Everyone has a credit file.  You may not have applied for any credit (liabilities) with any financial lender or credit institution however, you would have a credit file with your current bank with whom you use for your day-to-day banking and deposits.

Apart from having a credit file you would have a credit score. A credit score is only performed at the time of loan submission with a proposed lender of choice. A credit score is performed when all your information is electronically entered into the lenders electronic systems. The lenders internal scoring is a guarded secret that looks at your assets and liabilities, time at address, etc. and calculates a score to either do business with you or not to do business with you.

If you believe a lender may have registered a mark against your credit file we suggest you obtain a copy of your credit file.

These can be obtained from Veda www.mycreditfile.com.au/personal/ and for more business related credit reports from Dunn & Bradstreet www.dnb.com.au.

After obtaining a copy of your Credit File what do you look for?

You look for any of the following that may have been added or changed on your credit file:

• Addresses
• Bankruptcy
• Court judgement
• Employment details
• Writs and summons
• Directorship information
• Consumer credit enquiries
• Commercial credit enquiries
• Details of overdue consumer credit accounts
• Details of overdue commercial credit accounts
• Current credit relationship with a credit provider

Additionally, obtaining a report of your credit file will help detect and prevent identity theft.

If you find any unusual details on your credit file- immediately inform Veda and your credit providers if you notice any suspicious activity in your financial accounts. The faster you act, the better the chance of a speedy recovery.

Credit Repair Companies

There are a number of Credit Repair Companies who can help repair your credit files. Contact us to put you in touch with these companies.

INFORMATION HELD ON CREDIT FILES