The Top Mistakes To Avoid When Repairing Your Credit In Australia

Maintaining a good credit score is essential for financial stability in Australia. A good credit score opens up a world of financial opportunities, from buying a new car to purchasing your first home. However, once your credit score takes a hit, it can be challenging to repair it. 

Credit repair in Australia requires discipline, dedication and an understanding of the most common mistakes to avoid. This blog post will explore the top mistakes to avoid when repairing your credit in Australia.

1. Ignoring your credit report 
   One of the most common mistakes people make regarding effective credit repair is failing to review your credit report regularly. A credit report includes information about your credit accounts, payment history and any defaults, judgments or bankruptcies.
   
   By ignoring your credit report, you may miss out on identifying any errors, inaccuracies or fraudulent activities that may impact your score. While there is no hard and fast rule, reviewing your credit report at least once a year is recommended, especially if you have plans for credit repair.
   

2. Paying bills late
   When it comes to credit repair, the goal is to show that you can be responsible with money. And if you have a track record of paying bills late or not at all, this won’t help you improve your credit. Late payments can remain on your credit report for up to seven years. If you are struggling to keep up with your bills, consider setting up automatic payments or reminders to avoid missing due dates.
   

3. Apply for new credit
   In addition to paying bills on time, taking on any new ones is not recommended. Each time you apply for credit, it results in a hard inquiry on your credit report, which can lower your credit score, whether you are approved or denied. And if lenders continuously reject you, it won’t bode well for your credit score, so try to avoid it altogether. 
   

4. Not seeking professional advice
   Credit repair is a complex and time-consuming process, so seeking professional advice is highly recommended to help get your credit score back in the green. For instance, a credit repair agency can negotiate with creditors on your behalf to reduce your debt and establish a payment plan. This method is particularly useful for those with multiple debts in their name.

Expert credit repair starts with Real Credit Repairers 

Take the first step on your credit repair journey with Real Credit Repairers. We are experts in removing black marks, defaults and other inaccuracies from your credit report. We can also take the reign on your debt negotiation, ensuring you receive a fair and reasonable result as you repair your credit. 

With Real Credit Repairers, what you see is what you get. You’ll only pay if we are 100% sure we can assist you in improving your credit and we deem we can help you. We’ll aim to resolve your case within six weeks. Contact us to learn more about our credit repair service today.