Credit Reports

[Tinks]

I got declined for credit the other day so I've ordered my credit report.

I've got a couple of questions:

1. I ordered the same day one but it hasn't been emailed to me yet, how long will I have to wait?

2. If there is something on there (I have no idea what it could be) am I able to have it removed? I'm positive whatever is on there has been paid for, I'm not getting debt collector letters or phone calls. So if it can how do I go about it?

[Just Me]

If you paid for your credit report then you should get it in the specified time frame otherwise if you just ordered a free copy of your credit report it takes about 2 weeks.

Credit reports show more than just not having paid a bill. They show how many times you have applied for credit in the last 6 - 12 months and what type of credit you applied for. They also show how long you have been in your current employment and current residence for. All those things go towards giving you a credit rating. Some places (like GE creditline) don't need you to have as good a credit rating as others (like banks). If you are applying for a secured loan, they can also be a little more lenient with credit ratings than with an unsecured loan.

Since the GFC I know a lot of places are tightening up on giving credit so it may just be that you didn't meet their criteria.

I hope your credit report comes soon. Did you check your junk mail box incase your email provider registered it as junk?

[~Raven~]

If you paid then within 24 hours, if you didn't it will take 10 days.

Depending on what it is, you can have it removed. DH had a $60 thing that was an error so a few phone calls between veda and the debt collection agency sorted it out. Other things need to be waited out for a 5yr period!

I must say that it's a PIA that different financial institutions have different care factors in regards to this stuff. We were approved for a car loan and also finance of $150,000 for a truck but we were knocked back for a credit card and it was the first we knew it was on there.

Good luck with it!

[Fuzzywuzzy]

I would be contacting veda to chase it up if you haven't received it.

A default can be any overdue payment more than $100 that is more than 60 days overdue. Even if you have paid it it will still stay on your file for 5 years although you can have it updated to show that it is paid by contacting the company that you had the debt with and getting them to update veda's records (they are required to do this by law)

Unfortunately unless it is a mistake it will stay on the file and cause problems for you in the future. I know that some banks will ignore smaller defaults if they are paid but have no tolerance for larger defaults (greater than $1,000)

If you go to the VEDA advantage website and read the faq section it will answer your questions

[Netix]

I applied for my credit file, and also the Man's, and they both show that we have a clear history. I applied for credit with a group, and they knocked me back because of things on my credit file that weren't on the copy that I got. Mine said no defaults, whereas there is one that I am paying off that is listed on the one the company I applied to. So, I don't hold what they contain to be worth anything. Sorry.

[Tinks]

hmmm

I just got it and I apparently owe over $2000 to a mobile phone company I've never heard of. One of my addresses is wrong and there is an employer listed that I've never worked for.

What can I do about it?

[Trillian]

Well you need to follow it up. It is possible that there is someone else out there with your exact same name and their stuff could have been put on your credit rating by mistake. Good luck with it, because it you know that they aren't your details, you may still have a hell of a time proving it.

[Just Me]

Oh Tinks, that really sucks! I hope you can sort it out without too much drama. At least you found out now ... good luck.

[Fuzzywuzzy]

Well you need to follow it up. It is possible that there is someone else out there with your exact same name and their stuff could have been put on your credit rating by mistake. Good luck with it, because it you know that they aren't your details, you may still have a hell of a time proving it.

:yeahthat:

You need to contact that mobile phone company directly to sort it out. Good luck