In the past, however, displaying positive lending behaviours (avoiding paying the minimum balance on credit cards, having a good credit utilisation ratio, and making repayments on time) was not visible to lenders, making it really difficult to get a loan approved if you had a mid-low credit score.

So now that it is in effect, it’s important to know how to take advantage of comprehensive credit reporting. This article will have all of the information you need.  First of all, let’s understand what a credit report is and how it works.

How Do Credit Reports Work?

When trying to find out how to take advantage of comprehensive credit reporting, you must first gain an understanding of how credit reports work. This document is a record of your credit history and lenders will check it when you apply for credit to help them make a decision on whether to approve or decline your request.

Your credit report will tell lenders everything they need to know such as:

• Your repayment history
• How many times you’ve applied for credit
• Loans that were approved
• How much debt you have
• Any defaults

Credit reporting bodies will often condense your report into a credit score. This will assess your creditworthiness and makes it easy for lenders to figure out who they should lend to. Your credit score has a significant impact on a number of things including:

• Whether or not you can be trusted to borrow money in the first place
• The amount you’d like to borrow
• The interest rate that you will receive
• The fees /costs of taking out a loan
• Whether the loan will be secured or unsecured.

What Is Comprehensive Credit Reporting?

With the intent to provide a clearer picture of your credit history, comprehensive credit reporting was introduced in Australia fairly recently. It provides a greater level of transparency, allowing you to understand more about what you’re seeing. It also generally makes it far easier for people to get a loan or form of credit (although sometimes this isn’t the case).

Before CCR went live, your credit report only displayed what is seen as bad credit behaviours. Bad behaviour includes bankruptcies, defaults, and other credit infringements. However, comprehensive credit reporting means that positive information is now also displayed.

Now, positive behaviours within your credit history are also showcased, as well as the types of finance products that you have utilised. So, credit providers are now able to see if you are able to manage your debt responsibly.

Your positive history will certainly count towards your overall creditworthiness. This will show if you have been paying off your forms of credit and loans on time. If you are able to manage your debt in a pro-active way then it will look great on your report.

Credit providers will also be able to check if you have applied for a form of credit that is right for you. Even better, your unique circumstances will be kept in mind. This can lead to an offer from there that is better for you than the first form of credit you chose to apply for.

How You Can Benefit from Comprehensive Credit Reporting

When it comes to how you can benefit from comprehensive credit reporting, you will be amazed. Having access to a more detailed, fairer, and transparent score, you can enjoy many things. It means that you can:

• Ensure that your information is up-to-date and complete for lenders to review.
• Know which information is accessed and used by lenders throughout Australia.
• Access information that allows you to learn how you can improve your credit score.
• Understand why your score may be going up or down.

When you have access to information like this, it becomes more accessible than ever before to improve your score. You can do it faster and gain more control. It can also help you control your reputation as a borrower.

How to Take Advantage of Comprehensive Credit Reporting

Now that you know more about it, do you want to know how to take advantage of comprehensive credit reporting? If your answer is yes, you have come to the right place. Let’s take a look at some of the best ways how to take advantage of comprehensive credit reporting.

• Pay for electronics, such as a new TV on your credit card and pay it off in full immediately.
• Pay for your fuel on your credit card and pay it off immediately.
• Ensure that you never miss any repayments.
• Avoid only making minimum repayments towards your credit card balance each month.
• Pay off any outstanding balances.

These are some of the top ways how to take advantage of comprehensive credit reporting. These tips can make a massive difference to your creditworthiness. Keep them in mind!

Start improving your credit file!

Now that you have a good understanding of what comprehensive credit reporting is and how to take advantage of comprehensive credit reporting, you can start to use it to your advantage! If you need help with your credit report for any reason, get in touch with the friendly team at Clean Credit today!

However, when renting, there are some opportunities to get more bang for your buck which is why we’ve broken down the top 5 best bargain areas to rent in Sydney.

Some suburbs in Sydney are extremely expensive while others are more reasonable. For a major city, you’re unlikely to get a place on the cheap (unless it’s a shed in someone’s garden) so if you’re bargain hunting, then it’s all about knowing where to look and understanding what your budget is. We have put together some of the cheapest suburbs to rent in Sydney, so you know exactly where to look when finding a place to rent.

The Top 5 Best Bargain Areas to Rent in Sydney

It is important to know that the ability to work, play, and live within 20 minutes of your home is the new desirable lifestyle. It seems that the COVID-19 normal world we have come to know is full of people who love the idea of most things in life only being a 20-minute walk, bike ride, or public transport trip from home.

Things such as business services, shopping, community facilities, education, sporting resources, and jobs are expected to fit in with this narrative.

You will find that people are willing to pay more for this lifestyle. However, this isn’t always the same for each suburb. In fact, there are plenty of suburbs around right now which are not just fantastic places to live, but also cost-effective. On that note, let’s explore some of the best bargain areas to rent in Sydney.

1. Coogee

Coogee is a beautiful gentrified coastal suburb that sits to the southeast of the Sydney CBD. It saw some significant infrastructure projects throughout 2020 and these upgrades are expected to continue for this coastal suburb. Coogee is a very exciting and upper-class suburb that still remains at a normal price compared to others of its type.

With beautiful coastal walks, most notably the Bondi – Coogee walk and with a lively bar and restaurant scene, famously housing the Coogee Pavilion, Coogee really deserves its spot in the top 5 best bargain areas to rent in Sydney.

Transport links are generally very good in Coogee with buses running frequently and for sports enthusiasts, Coogee is a perfect spot for joggers, cyclists and surfers alike with brilliant jogging trails and secluded, wavey beaches never far away.

• Distance from CBD: 8km South East
• Total Population: 14,012
• Median Household Income: $2099 (weekly)
• Walk Score: 79 (very walkable)

2. Kingsford

Kingsford is a comfortable residential suburb that sits to the southeast of the Sydney CBD. It is situated directly south of the renowned University of New South Wales. It has excellent benefits and is becoming a favourite suburb amongst renters.

It has access to several cultural amenities along Gardner’s Road and Anzac Parade. Better yet, it is situated only around 5km from the famous Coogee Beach.

Kingsford has developed into an area heavily influenced by Asian cuisine and student living. Transport links are also very good, making Kingsford a practical location to live.

• Distance from CBD: 7km South East
• Total Population: 14,100
• Median Household Income: $1,227 (weekly)
• Walk Score: 82 (very walkable)

3. Neutral Bay

Neutral Bay really is a lovely harbourside suburb located on the Lower North Shore of Sydney. It is situated to the north of the Sydney CBD in the local government area of the North Sydney Council. Suburbs nearby include Milsons Point, Cammeray, and Cremorne.

Rich with history and surrounded by the famous Sydney Harbour, Neutral Bay has become a fantastic spot to live. A wide array of quality shops, restaurants and cafes are located within Neutral Bay Junction, making it a really practical Suburb to live in. Neutral Bay is also famously home to The Oaks.

This harbourside suburb truly deserves its spot in the top 5 best bargain areas to rent in Sydney.

• Distance from CBD: 1.5km North
• Total Population: 9,384
• Median Household Income: $2073 (weekly)
• Walk Score: 85 (very walkable)

4. Kensington

Kensington is a lovely suburb located southeast of the Sydney CBD. It is situated in the local government area of the City of Randwick. It is immediately to the south of Moore Park and to the west of Randwick Racecourse.

Kensington is well-known for many of its landmarks such as the main campus of the University of New South Wales, the exclusive Australia Golf Club, and the National Institute of Dramatic Arts (NIDA).

With easy city access and beaches within a short drive or bus, Kensington is a really convenient spot that just continues to develop. Kensington is also home to a Light Rail Station and some beautiful parks.

Continue reading below for some statistics on Kensington:

• Distance from CBD: 6km South East
• Total Population: 12,776
• Median Household Income: $1498 (weekly)
• Walk Score: 81 (very walkable)

5. Maroubra

Located right alongside the beach, Maroubra is a lovely suburb in the Eastern Suburbs of Sydney. It is located southeast of the Sydney CBD. It is also the largest suburb in the area governed by the Randwick City Council in both population and area.

Maroubra is one of Sydney’s top surfing beaches and there are plenty of shops, bars and restaurants nearby to keep you entertained.

• Distance from CBD: 10km South East
• Total Population: 29,594
• Median Household Income: $1428 (weekly)
• Walk Score: 74 (very walkable)

What You Need to Know About the Best Bargain Areas to Rent in Sydney

Above are the top 5 best bargain areas to rent in Sydney. If you are looking for a house to rent but are dealing with bad credit, get in touch with Clean Credit today. We could help to repair your credit score so that you can secure your home.

Cosmetic dentistry is becoming increasingly popular, particular within the 20’s – 30’s demographic. It provides an opportunity to improve your teeth and smile through various methods. While cosmetic dentistry can be heavy on the pocket (we discuss the different methods and costs later), it can completely transform your smile, making you feel confident in your teeth.

In more complex cases, you may need to seek out a specialist. However, speaking to your trusted dentist will help you understand more.

So, What Is Cosmetic Dentistry?

Cosmetic dentistry, also known as aesthetic dentistry, is a series of treatments which can help to improve the appearance of your smile. Aside from the functional benefits, this can also have a massive impact on your self-image to restore your confidence. Having strong teeth and a beautiful smile is essential for many reasons.

Not only will a damaged, chipped, discoloured or decaying smile affect your oral health, but it will affect your self-confidence and how others perceive you. This is because a smile is often the first thing that people notice.

Some of the procedures included in cosmetic dentistry include:

• Teeth Straightening – from ceramic braces to invisalign, straightening your teeth can completely reshape your smile. Invisalign are clear aligners which are a fantastic and more recent orthodontal solution. They are a transparent, plastic form of dental braces used to straighten teeth and usually cost between $6,000 – $9,000 AUD.
• Teeth whitening – the process of whitening discoloured teeth through a fast and safe tooth bleaching process. According to the Australian Lending Centre, this costs approximately $600 – $1,200 AUD and is much more effective than at-home whitening kits or teeth whitening which is offered at some beauty salons. Dental level whitening can be up to 5 x more effective and longer lasting than alternative, cheaper methods of whitening.
• Gum reshaping – Those who are unsure what is cosmetic dentistry have often never heard of gum reshaping, otherwise known as gum contouring. This involves reshaping and removing excess gum tissue around your teeth to remove the presence of a ‘gummy smile’. A gummy smile is identified as the appearance of too much gum above the top of someone’s teeth.
• Gum bleaching – this helps to recolour gums which have been affected due to inconsistent melanin levels, long term effects of taking certain medications or bad hygeine.
• Porcelain veneers – veneers are a very thin, strong shell of porcelain which covers your teeth to make your once crooked, chipped, discoloured or missing teeth beautiful. According to Paramount Dental Sydney, this costs approximately $1,800 AUD per tooth.

• Dental bridges – two or more crowns are bonded together in order to replace missing teeth and fill a space where one or more teeth have been lost.
• Dental crowns – crowns are a tooth-shaped cap that is placed over your tooth, completely covering it to hide issues such as lost fillings, cracked teeth and root canals.
• Dental implants – if you are missing a tooth, a small titanium rod can be inserted into the jaw bone to act as an artificial base to a porcelain tooth designed to look and feel like a real tooth.
• Dental bonding – this is a versatile and cheap alternative to porcelain veneers. Dental bonding is a material which can fill gaps from cracked or missing teeth and help to recolour stains.
• Dentures – this is a replaceable device containing artificial teeth and gums which is created to replace missing teeth and support the structures around your cheeks and lips.

Who Can Benefit from Cosmetic Procedures?

If you are wondering what is cosmetic dentistry and whether you can benefit from it, then these stats might interest you. In 2019, the American Academy of Cosmetic Dentistry (AACD) took a sample from 363 dental professionals in relation to cosmetic dental patients and here are some of the key findings:

• 96% of patients who undergo cosmetic dentistry procedures are female.
• 86 percent of cosmetic dental patients wanted to improve their appearance
• Almost 50% of cosmetic dental patients hope to look and feel younger
• Just over 50% of patients have cosmetic dental work in preparation for an event such as a wedding
• In 2017, 50% of patients spent $7,000 AUD or more on cosmetic dentistry in the year.
• While some patients paid up front for their treatments, many paid via third party finance.
• Teeth whitening has become less popular in recent times since the increase in home whitening kits and the lower prices offered at some beauty salons.

When considering what is cosmetic dentistry and what are the most popular treatments, according to Bunker Hill Dentistry, in 2017, dental bonding accounted for 43% of all cosmetic dental treatments. crowns & bridges accounted for 31% and veneers accounted for 8%.

The Australian Institute of Health and Welfare (AIHW) also posted a report in 2015 stating that tooth decay is the most common oral health problem facing Australians, with 90% of tooth loss being attributed to this. Also, according to the report, 25% of Austrlians are unhappy with the appearance of their teeth. Even more shockingly, 19% of adults aged 65 and above had none of their natural teeth remaining.

Why You Should Choose Cosmetic Dentistry

Some of the most common reasons that people pay for cosmetic dentistry are:

• Teeth crowding
• Tooth discolouration
• Gappy teeth

Most of the time, people tend to opt for dental veneers due to the fact that they can correct all cosmetic issues listed above. Whenever proceeding with a complicated dental procedure it is important to prioritise quality over price and seek out a trusted and highly qualified dentist. Finding a dentist with a specific focus on cosmetic procedures will ensure that you receive the best looking and safest results.

How To Finance Cosmetic Dentistry

If you are dealing with issues with your teeth and wondering what is cosmetic dentistry, it is worth doing your research. If finances are an issue then third party financing is a very popular way to pay for treatment (as discussed above), however if you have a bad credit score then it can be difficult being approved for funding.

Clean Credit can help to repair your credit score so that you can get a good rate on a loan to help you to afford your cosmetic treatment.

What You Need to Know Before Your Treatment

Before you begin your chosen procedure, you will need to have your mouth thoroughly checked. This way, you can:

• Work out a plan that suits you
• First treat any underlying issues
• Find out what is causing the unsatisfactory appearance of your smile
• Talk and be advised about your treatment options

You need to identify what is most important to you. Before you see your dentist, you will need to consider:

• If you need dental finance
• What you like about the appearance of your teeth
• What you don’t like about your teeth
• Any symptoms such as pain or difficulty eating
• Other treatment you’ve had
• How much effort you will put in to improve your smile in the future
• How much time and money you can invest in your smile
• How much of your procedure a personal loan can cover
• Whether you are willing to change your diet in order to get the best results and keep them

It is always a good idea to write down your thoughts so that you don’t forget anything. With the tips above, you can be 100% prepared for your dental procedure when the time comes.

What Is Cosmetic Dentistry and is it right for me?

Cosmetic dentistry is an absolutely excellent way to achieve the smile of your dreams. It is accessible, simple, and effective. This way, you can build your confidence up and truly feel comfortable within yourself.

Unfortunately, cosmetic dental work doesn’t come cheap, so if money is an obstacle you require dental finance, don’t let bad credit will hold you back. The team at Clean Credit could fix your credit rating in as little as 30 days. We have a 97% removal success rate and are rated 5* on Trustpilot.

Now that you know what is cosmetic dentistry, you’re ready to enjoy your new smile.

These solutions range from loans, credit cards, and overdraft facilities. They are regulated by an independent body that is completely responsible for ensuring the conduct of the firms. It is of the utmost importance to research the different options available to you, especially when it comes to looking for credit.

Many different providers will offer different benefits depending on your individual circumstances. Keep reading to learn about what are credit providers.

What are credit providers?

For the purposes of the Privacy Act, the following entities can be considered credit providers:

• Specific organisations or small business operators that provide credit to people in connection with the hiring, leasing, or even renting of goods.
• A bank.
• An organisation or small business operator that supplies goods and services where payment is deferred for over 7 days. This applies to telecommunications carriers, energy, and water utilities.
• A retailer that issues credit cards in compliance with the sale of goods or services.
• An organisation or small business operate if a large part of its business is the provision of credit. This applies to building societies, finance companies, or credit unions.

Debt collectors and so on may also be considered credit providers. However, general insurers, employers, or real estate agents are not credit providers. So what are credit providers?

1. Banks

Everyone knows that banks are the most popular credit providers. They are financial institutions where people and organisations can go to borrow and invest their money. Your interest rate will depend greatly on your credit history, account history, and loan size.

The types of credit that are usually offered at banks range greatly. From secured credit such as car loans and mortgages to unsecured credit such as personal loans and credit cards. They differ greatly. Secured credit involves using an asset as security that can be taken if you default on your loan.

Unsecured credit involves no asset, and the terms depend on credit history and your application details.

2. Payday loan companies

Payday loans are typically more flexible in terms of lending. Especially for people with a poor credit history. Though payday loans aren’t always easier. There is an increased risk, and the short-term factor of the loan can entice rather high-interest rates.

There is now a cap on the amount of interest they can charge. However, the cost is still expensive. Some lenders will avoid interest and instead apply a fee. Payday loans can definitely be a good tool, but the high-interest rates can make them difficult.

Missed repayments are common with payday loans. Missed repayments could make it more difficult to get credit in the future. It is an important thing to know about what are credit providers.

3. Grocery stores

Some grocery stores such as Coles and Woolworths offer their own credit cards. They usually fall into two different categories. The first is a store credit card which is similar to a normal credit card. However, it is usually limited to a particular chain or group.

They come with plenty of benefits. The second is credit cards that are just linked to the store. They can be used anywhere but will have the grocery store’s branding. Though these cards are linked to the store, the credit could still be provided by a bank.

4. Credit unions

Credit unions are considered an alternative to banks. This is because they provide financial products and services. The difference is that the money used is normally given back to the local community. Borrowing from a credit union does require a membership and these members may all share something in common.

These things include:

• Location
• Jobs
• Trade unions

Usually, credit unions provide smaller loans than the big banks do. They can also be a far cheaper alternative. It is good to know about credit unions when looking at what are credit providers.

5. Peer-to-peer lending

When looking at what are credit providers, it is good to know about peer-to-peer lenders. Peer-to-peer lending connects individuals or companies who are looking to borrow money with prospective lenders searching for a higher return on their investment.

It is often known as crowd-lending. Lenders can also receive better return rates than many other savings accounts. However, there is no guarantee the money will return. If borrowers default on their loans, it may be seen as more of an investment than a savings method.

Struggling with your credit score?

Is your credit suffering at the moment? If so, contact Clean Credit today to repair your credit. Now is the time to get your finances in shape, and Clean Credit could help!

So, how expensive is dog maintenance in 2022? Well, there are many necessities that dogs need to survive. This includes things such as food, vet visits, and dental care.

Then you have other things that are less necessary such as toys, treats, and even more toys. The bottom line is that there is a lot of things that your pet needs. Over time, all of these costs tend to add up. Obviously, this comes as a surprise to many new dog owners.

How Expensive is Dog Maintenance in 2022?

Owning a dog has many amazing benefits. However, when wondering how expensive is dog maintenance in 2022, you may be shocked. It is worth noting that the figures below are dependent on where you live and what kind of dog you have.

There are also other expenses that aren’t included. Based on the figures below, you can expect to pay up to $4,000 in your first year of pooch ownership. This does not include the amount you pay to purchase the dog.

A Detailed Breakdown of dog maintenance costs

Check out some of the costs that come with owning a dog. It’s a lot more than you might think:

• Purchasing the dog- Generally dogs cost between $500 and $1,500 for a puppy and less for dogs aged 6-months plus. If you’re looking for a purebred dog or a popular pup, such as a Cavoodle, then you should expect to pay between $2,500 – $5,000. Premium dogs including French Bulldogs and Tibetan Mastiff’s can cost anywhere up to $15,000 or even more depending on the breed, age, colour and other factors.
• Microchipping- $60 to $80.
• Council registration- $40 to $150 depending on whether or not the dog is desexed.
• Vaccinations- $170 to $250.
• Prevention for heartworms, worms, and fleas- $120 to $300.
• Desexing- $200 to $500 depending on the size, age, and breed of the dog.
• Food and bowls- $800 to $1000 per year depending on the size, age, and breed of the dog.
• Grooming- $50 to $100 per session depending on the size & breed of dog.

• Toys and treats- $150 to $400 per year.
• Bed and kennel expenses- $100 to $200.
• Collars, harnesses, and leashes- $40 to $100.
• Puppy training- Approx $120 per session depending on the age, size, gender, and breed of the dog.
• Car restraint- $30 and above.
• Professional dog walking- Approx $25 per hour. Based on 2 hours of walking per week for 50 weeks of the year, this will total approx $2,500 for a year.
• Vet Bills- These entirely depend on the issue at hand, vet costs can range anywhere from $50 – $3,000+. It’s a good idea to get pet insurance to help to cover these expenses if they do come up.

All of these costs must be considered when wondering how expensive is dog maintenance in 2022.

How Much Will Your Dog Cost Long-Term?

Owning a dog involves many regular expenses. It isn’t unusual to need financial services at some point during dog ownership. The annual expenses for looking after a dog amount to around $1,500. This figure can increase depending on the age, size, breed, illness, or accident history of the dog.

How expensive is dog maintenance in 2022 will depend on many things.

Financing Options for Your Dog

When it comes to how expensive is dog maintenance in 2022, you can consider financing options such as loans for your dog. Owning a dog can lead to many unplanned expenses that can mess up your budget. You can consider the following options to fund these expenses:

• Unsecured personal loans
• Short term loans
• Low-interest credit cards

This will help you out greatly if you are on a strict monthly budget or if you don’t currently have access to the money needed to finance your furry friend. Financing options are essential for any pet owner as animals are unpredictable at times.

The Pros and Cons of Financing Options for Your Dog

Let’s take a look at the pros and cons of financing options for your dog:

Pros

• Buying a dog on finance can allow you to purchase your ideal breed.
• You can fund unexpected bills when you are low on money.
• You can pay things off (including your dog) in instalments rather than in one go.
• You can improve your credit rating if you make on-time repayments.
• You can apply for more than just the cost of your dog including toys, dog beds, and veterinary care.

Cons

• You may struggle when applying for a secured personal loan.
• Your dog can end up costing more in the long term than if you paid upfront.
• If your circumstances change you may be unable to make repayments.

The Bottom Line of How Expensive is Dog Maintenance in 2022

When wondering how expensive is dog maintenance in 2022, it is important to know that Australia has one of the highest rates of pet ownership in the world, and dog ownership does not come cheap. In any matter involving your finances, you need to examine any implications with every single decision you make.

While there are definitely many substantial benefits to having a furry friend around, you need to ensure that you estimate the financial costs of owning a dog before you take the plunge. If you are currently looking to purchase a dog or need help paying for your pets’ maintenance but have bad credit, get in touch with Clean Credit.

We can help you improve your credit score so you can apply for finance with better interest rates and a greater chance of approval.

For example, if you miss a payment, you will incur a late fee. The bottom line is that the costs do add up quickly. Though, it really isn’t hard to learn how to use your credit card properly. As a result, you can save money all while building credit.

You may even be able to take advantage of the great perks offered to you. To avoid making mistakes, let’s check out 5 of the biggest ones you need to avoid.

Why you should avoid the biggest credit card mistakes

Making any of the following mistakes could cause a lot of financial distress. In fact, studies show that the average Australian credit card debt was estimated to be $3258 per card. These biggest credit card mistakes can have a huge effect on your finances and even completely diminish your credit score.

1. Canceling your credit card

Cancelling your credit card when you’re finished with it may sound fine. However, it is the last thing you should do. Many people think it is straightforward, though it is often much more complicated than that.

Cancelling your credit card could lead to a decrease in your overall credit limit and an increase in your credit utilization ratio. In turn, this will have a significant negative impact on your credit. Try to avoid that at all costs.

Instead, you could speak to your credit provider about a product change. This way, you can get a better product that matches your financial needs.

2. Paying late

Everyone knows that paying late is one of the biggest credit card mistakes you can make. Late payments can stick to you like superglue and ruin your financial credibility. They stay on your report for seven years.

That is a rather long time to have to deal with one mistake. The more late payments you make, the more your scores will drop. The longer this goes on, the worse it gets. On top of that, if you wait long enough, your card will be charged off and your account will be sold to collections.

This is something you definitely want to avoid. If you’re worried about missing payments, set up reminders. You can also make them automated. Your credit will thank you later.

If you do struggle to keep up with repayments then an online personal loan might be a better route to go down. This way there is a clear repayment structure, unlike with a credit card.

3. Not monitoring transactions

This is one of the biggest credit card mistakes that no one seems to think about. Monitoring your transactions is such an important part of having a credit card. Make it a habit to keep an eye on your credit card transaction history.

You can do this by visiting your online account or reading your billing statement. If you notice a charge that wasn’t made by you, it could be a sign of fraudulent activity. It can be very expensive to ignore that. Keeping an eye on your billing statements is in your best interest to avoid the biggest credit card mistakes.

4. Too many applications

This is yet another of the biggest credit card mistakes. Credit cards can be a great tool. However, in excess, they can seriously affect your finances. If you want to maintain good financial health, don’t rush out and get many credit cards at once.

Each credit card application will trigger a hard inquiry. In turn, this will knock a few points off your credit rating. While one hard inquiry won’t do much harm, many will. On top of that, lenders will also see this behaviour and likely be put off.

They will usually think you’re seeking multiple forms of credit due to financial distress. That is why you should always be sensible when applying for credit.

5. Not knowing your terms

When it comes to your credit card terms, you need to stay on top of them. They aren’t an enjoyable read, but you could be hit with unexpected fees if you don’t read them. By reading the fine print, you will know things like:

• Introductory rates
• Balance transfer fees
• Other charges

There is so much you need to know. That is why the fine print was written, after all. Knowing your credit card terms can save you a lot of financial distress later.

The bottom line of the biggest credit card mistakes

Now that you know some of the biggest credit card mistakes, you can manage your credit far better. If your credit is in need of repair, contact Clean Credit today for the chance to improve your score and heal your financial situation. The team of experts at Clean Credit can help you improve your credit drastically.

When you least expect it, your credit score could severely impact your life. While it may not seem like a big deal, your credit score is far more important than you think. In fact, it can put up many roadblocks for you when it comes to your finances. This alone can set you back and cause plenty of stress which is why you need to stay educated on the subject.

Let’s take a look into exactly what a hard enquiry is and how it can hurt your credit.

Why do hard enquiries hurt your credit?

Credit enquiries are stamped on your file whenever someone successfully accesses your credit account. This then leads to the credit bureaus taking note of this information and recording all of the details. They will also recognize the entity accessing your information. Hard enquiries happen when a lender accesses your credit report to evaluate you as a borrower. So, why do hard enquiries hurt your credit?

Essentially, they happen when lenders look at the information in your report to decide whether to approve or deny your application for credit. Hard enquiries will get reported on your credit report when someone checks your credit. However, it must be for the purpose of considering you for a loan or credit card. These do, in fact, impact your credit which is why it’s important that you understand them.

You should also find out why they’re here and how you are able to limit them.

Are hard enquiries bad?

It is important to remember that hard enquiries aren’t necessarily bad. They are an aspect of how credit reporting works and it is quite good that this information is recorded. With this reporting, you should be able to see who has accessed your personal credit information and why.

With that being said, hard enquiries aren’t neutral at all. They can greatly impact your credit, so you want to keep them to as minimal a number as possible. This helps to answer the question of why do hard enquiries hurt your credit?

What makes up a credit score?

Hard enquiries are one of the many factors that make up your credit score. These factors include:

• Credit mix– Creditors who want to see that you can manage different accounts. These include revolving and installment accounts. Credit mix makes up roughly 10% of your score.
• Payment history– Whether you pay on time or not can impact around 35% of your credit score.
• Credit age– How long you have had your credit as well as the age of your oldest accounts contributes to roughly 15% of your score.
• Hard enquiries– The number of recent hard enquiries on your report will make up about 10% of your score.
• Credit utilization– How much of your available revolving credit limit you’re actively using can account for roughly 30% of your score.

How and why do hard enquiries hurt your credit?

As you can see from this, hard enquiries are not the most important factor. However, they do impact it. That is because many hard enquiries on your account will look like your desperately chasing credit constantly or that you have been borrowing above your means. This is not a behaviour a lender would want or expect to see from a person with stable finances.

However, they usually only tend to impact your score for the first 12 months. How much they actually impact your score depends on a variety of factors. One being what your score was to begin with. This accounts for why do hard enquiries hurt your credit.

How many hard enquiries is too much?

There isn’t really a number that defines ‘too many’. If you suddenly have a large amount, however, it can look bad to potential creditors. As well as this, if you’re losing up to 10 points with each one, your score could drop fast. Spacing out the enquiries will help to ensure that your credit doesn’t take a hit. It will also allow time for your score to recover before another enquiry.

The only thing to keep in mind is that a large number of enquiries will heavily affect your score.

The bottom line

Realistically, hard enquiries aren’t something to be scared of. If you keep your applications low and your credit is in good shape, you need not worry. If you’re worried as to why do hard enquiries hurt your credit, fear no more. If your credit is already struggling, contact the team at Clean Credit to repair your credit and get your finances back on track.

They can impact your ability to obtain credit whether in the form of a mortgage or a personal business loan. Therefore, it’s important to know what action you must take to remove it from your credit report. This article will take you through the five steps you should take to remove a court judgment from your credit report.

What is a credit report?

A credit report contains important information about your credit history. Credit bureaus create your credit report from the information they receive. A credit bureau is a company or organization that collect the relevant information needed. They then make this information available to lending institutions such as banks. The lending institution will use the information to determine whether they will grant the credit based upon your borrowing trustworthiness, judged by the credit providers.

Your credit report is based on many factors such as:

• Your repayment history
• Your credit enquiries
• Your overdue accounts listed as payment defaults
• Writs and summons
• Court judgments related to debts
• Your credit history of five years

If you’re wanting to learn how to get rid of a court judgment, you will need these five steps.

How to get rid of a court judgment

Here are five things you should do if you want to learn how to get rid of a court judgment. Let’s take a look.

1. Contact the credit provider

When it comes to how to get rid of a court judgment, the first thing you should do is write to the credit provider. This is the person who obtained the judgment against you. You should ask them to confirm that you have paid them back. Make sure you get it in writing to ensure valid evidence is made. It is very important that you have this information to show that you have satisfied the judgment debt.

2. Contact the credit bureau

The next step you will need to take is to provide the letter to the credit reporting agency. Next, you will need to request that they remove the judgment from your record. This step is very important when it comes to how to get rid of a court judgment. This step will usually be enough for some credit reporting agencies, but not all.

Others may only add a notation to your credit report that says you’ve repaid the judgment debt. However, with it on your credit report, most lenders will likely be deterred from providing you with credit.

3. Obtain a consent order

If the credit bureau refuses to remove it, your next step is to ask the credit provider to sign consent orders. The order should state that the parties have agreed to put aside the judgment and discontinue the proceedings. They will need to file them with the appropriate court registry if they decide to sign the orders. It is then the court’s job to consider the consent orders.

If appropriate, the court will then make the orders as well as advise the parties that it has entered them. Once the parties have been able to enter the record, the credit reporting agency will be notified. The agency will then update its own records.

4. Apply to the court seeking to set aside judgment

Sometimes, a judgment credit simply will not agree to sign consent orders. Once the court has been able to enter a judgment, the judgment creditor doesn’t have to consent to set aside the judgment.

5. Dispute the claim

If none of the above rules is in your favour, you have the opportunity to dispute. To do this, you will need to apply to the court that issued the judgment to set it aside. An application to set aside a default judgment must include:

• The reason you delayed making the application (if needed)
• The reason you failed to file a defence within the time
• Any honest defence you have in respect of the claim

Where you’ve paid the judgment debt, this could be regarded as admitting the validity of the creditor’s claim. This can make getting an order to set aside the default judgment rather difficult.

Where you have paid the judgment debt, this may be regarded as admitting the validity of the creditor’s claim. This can make getting an order to set aside the default judgment very difficult.

Help with how to get rid of a court judgment

A court judgment that lingers on your credit report for a long five years is extremely prohibitive and can make it difficult to be approved any form of finance.

If you need to remove court judgments then Clean Credit are experienced in this process and can do all the hard work for you. Enquire with Clean Credit today and your problems could be solved in no time at all!

Your credit score is incredibly important. It dictates a lot of things in your life that will sooner or later prove vital. It can stop you from getting your first house, a car loan, or even applying for a credit card. Keep reading to find out more!

How many people have bad credit in Australia?

How many people have bad credit in Australia? Well, the truth is that far more people have bad credit than you think. It certainly isn’t uncommon, but that doesn’t mean that it is a good thing. People should definitely be far more worried than they are if they have bad credit. It may not kill you, but it will definitely kill many chances for you with your financials.

If you have a good credit score, you need not worry. However, if your score is currently low, you need to understand it, and then fix it.

What is bad credit, and how do you get it?

When it comes to wanting to know how many people have bad credit in Australia, you first need to know about bad credit. Most importantly, what it is and how you get it. Firstly, let’s take a look at the three major credit bureaus. We can determine what they consider to be low, good, and excellent credit scores.

• Equifax- Low (0-505), Good (666-755), Excellent (841-1200)
• Experian- Low (0-549), Good (625-699), Excellent (800-1000)
• Illion- Low (1-299), Good (500-699), Excellent (800-1000)

Here are some ways that you will get bad credit.

• Paying late
• Not paying at all
• Having a debt collector put on your case
• Defaulting a loan
• Declaring bankruptcy
• Getting a judgement
• Maxed out credit cards
• Applying for several credit cards
• Applying for several loans

Credit can be simple to fix, however, it may take quite a long time to do that.

How do you fix bad credit?

If you find that you have bad credit, don’t panic. Once the problem is identified, it can be a simple fix. It may just take slightly longer to see improvements. Here are some of the best ways to fix your bad credit.

• Check your free report annually to assess your credit health
• Obtain a copy of your credit reports
• If you own a credit card, ensure you use it properly and responsibly
• Check for potential errors on your report
• Reduce any other debt you have
• Pay all of your bills on time, every time
• Pay off any high-interest loans to reduce your debt as soon as possible
• Clear up any debt defaults
• Remove negative listings

Considering how many people have bad credit in Australia, all of these are great ways to fix bad credit. Consider using them if you have bad credit.

Statistics of bad credit

As of March 2021, there is said to be around 13,432,262 credit cards netting a national debt accruing interest of $20.5 billion. Many Australians do a great job of using their credit cards responsibility. However, some have not been so smart and have now managed to accrue bad debt and bad credit.

Here are some statistics of credit cards:

• Number of credit cards in circulation: 13,432,262
• Average balance per credit card: $2,909
• Average balance costing interest per credit card: $1,523
• Average number of purchases per credit card per month: 20 
• Average credit card purchase: $101

While over 13.7 million Australians have credit cards, many run into difficulties when applying. 36% of them were denied for unsteady income, 22% for having too much debt, and 21% for bad credit according to Finder.com. However, 16% of the American population have bad credit.

Interesting bad credit facts

Speaking of how many people have bad credit in Australia, let’s take a look at some of the bad credit facts. 

• Good finance habits are becoming increasingly popular now that people are becoming more aware
• Your credit score is based on five different factors
• Credit reports are very different from credit score contrary to popular belief
• Negative credit items will eventually cease to exist on your credit report
• You have many different types of credit scores

The bottom line of how many people have bad credit in Australia

If you have bad credit or are experiencing financial hardship, it is a good idea to speak to professionals. Clean Credit has a whole team of professionals waiting to help you out. We are caring, knowledgeable, and ready to help you with your financial needs. Contact Clean Credit today for help.

Australian shoppers just can’t seem to get enough of these options, using them for purchases big and small. In this blog post, we will answer the common questions and more to give you more of an idea of just what you’re getting yourself into.

How does buy now pay later affect your credit score and compare to credit cards?

One big reason that people like this option is because of the fact that they promise interest-free shopping. On top of this, people also like the fact that there are little to no fees to deal with. That’s why it becomes confusing when people ask questions like, does buy now pay later affect your credit score? 

Why would people be asking these questions with all these things promised? Well, it all lies in the details. So, how does it compare to a credit card?

• Instant access – Whether you’re buying in-store or online, buy now pay later, gives you access to funds instantly. However, credit cards take a week or so to arrive.
• Application – While Zip is harder than others, Afterpay will grant basically anyone an account. It is also instant, and no credit check is involved.
• Costs – Buy now pay later is essentially free. That is yet another appealing factor.

Klarna

Klarna is definitely one of the popular options. With Klarna, you can shop when you want and pay it back over time. Through the app, you pay your purchase back through four interest-free payments paid every fortnight. On the Klarna website, they claim that their instant approval process has zero impact on your credit score. So, does buy now pay later affect your credit score? 

Klarna will perform a credit check. They say, “This credit check will be visible on your credit report but does not directly affect your credit score. It may still affect your ability to be eligible for credit at other parties. They can see the credit inquiry on your report and use it as a basis for their final decision.”

If you cannot make your repayment, Klarna will try again. If unsuccessful, you will be charged a $7.00 late fee. 

Afterpay

Afterpay is most definitely the most popular of the buy now pay later options. It has the best range of shopping options while also having a bigger name than the other platforms. Afterpay is quite similar to Klarna in the way that you play in four instalments over six weeks. There are no fees at all when you pay on time, though if you do make a late payment, you will be charged. 

You will incur a $10.00 late fee with an added $7.00 late fee if it still hasn’t been paid after a further 7 days. The Afterpay website states, “Afterpay does not affect your credit score or credit rating. At Afterpay, we never do credit checks or report late payments. We don’t believe in preventing people from accessing Afterpay because they may have had an old debt from a long time ago.” 

Zip

With Zip, you have two different options. Zip Pay and Zip Money. Zip Pay is an account mainly aimed towards everyday spending and has a limit of $1000. Zip Money, on the other hand, is only to be used for purchases over $1000. 

Zip Pay

• Interest-free always
• Flexible repayments from $10 per week paid monthly, fortnightly, or weekly
• No sign-up fee
• $6 monthly fee that is waived if you pay your balance by the due date
• Late payment fee: $5

Zip Money

• Every transaction is interest-free or 3 months
• Flexible repayments from $10 per week paid monthly, fortnightly, or weekly
• A one-off sign-up fee, dependant on the limit
• $6 monthly fee that is waived if you pay your balance by the due date
• Late payment fee: $15

Zip does affect your credit score if you don’t pay your bills on time or default on your repayments.

Does buy now pay later affect your credit score?

The answer to does buy now pay later affect your credit score, is dependent on your chosen payment option. Zip and Klarna are both likely to impact your credit score, however, thus far, Afterpay seems to be the safest option. It is always good to understand that all of these options are, in fact, a form of credit.

Just because it isn’t legally recognised as credit, it is a good idea to be cautious and always treat repayments like a normal loan. Make sure to always do your research first and to be sure you can keep up with repayments before you proceed. If you need help with your credit score, contact Clean Credit today to improve your score.

You always have a choice when it comes to bad credit. Here are 6 tips to avoid bad credit, so you can get yourself out of debt and set yourself up for a positive financial future.

What Is Bad Credit?         

Everyone has a credit score which is a reflection of their borrowing history. Your credit file will be made up of all your past loans and how they were paid back. If you missed repayments or defaulted on your loan, this will show up as a negative listing on your credit file. In turn, these negative listings result in a low credit score.

Here are is how your credit score is calculated:

• The amount of money you’ve borrowed
• The number of credit applications you’ve made
• Whether or not you’ve paid on time

Of course, other things such as bankruptcy and court judgments will also be reflected in your score. If you have a low credit score, lenders consider you to be in a position of bad credit. This means they’re less willing to take a chance on you for a loan, or you will be charged higher interest rates. Read on for some tips to avoid bad credit.

6 Tips To Avoid Bad Credit

After some tips to avoid bad credit? Bad credit can leave you financially vulnerable. Many lenders won’t be willing to take a chance on you, which can result in your spiralling further into debt with no way out. Here are 6 tips to avoid bad credit:

1. Pay your bills on time

This is one of the best steps you can take to help you avoid bad credit. It’s the most important and easiest way to keep your credit score nice and high.

2. Don’t reach your credit limits

Just because the money is available, doesn’t mean you should use it. If you’re using too much of your credit, it suggest you’re spending beyond your means and can lower your credit score.

3. Pay your bills in full

While many lenders offer minimum payments to help you out, it’s best to pay off the full bill in one go. If you stick to the minimum payments, you can find yourself In a cycle of debt without even realising it – and it’s a hard cycle to work your way out of.

4. Don’t apply for credit all at once

Every time you apply for a new line of credit it results as a hard inquiry, which brings down you credit score. It suggests you’re being knocked back by lenders and aren’t in a good financial position to be borrowing.

5. Set up a budget

A budget is your best friend when it comes to managing your finances. It helps you keep track of your spending and also ensures you make all your repayments on time, which will help keep your credit score up.

6. Ask for help

If you do find yourself in a position of debt that you’re unable to get out of, then don’t be afraid to ask for help. Whether that help comes from friends and family, or from your lender, it’s always good to speak up. It gives you the chance to get back on track and make the right financial changes.

More Tips To Avoid Bad Credit

Now you understand the tips to avoid bad credit in the future, what do you do if you’re already in a position of bad credit? Thankfully, there are options available to you to help get you back on track.

The best one is to work with a credit repair company to have any incorrect listings removed from your credit file. They will dispute these errors to get them removed and clean up your credit rating. It’s important to find a business that knows what they’re doing and can be trusted to act on your behalf. Make sure to look out for reviews and research the companies ABN before making any commitments.

Credit Repair

If you’re ready to go down the path of credit repair, then speak to the professionals at Clean Credit today. We can work with you to help you achieve financial freedom by removing incorrect listings, unlawful defaults, court judgements and black marks from your file. Get back on track today

What Affects Your Credit Score?

Have you been asking yourself, what affects your credit score? Unfortunately, it’s not a straightforward answer. There are so many different factors that go into determining your credit score, which can change depending on what credit bureau your credit score is with. If your credit score is a number that’s generally between 0 and 1200.

If you find your number is 500 or below, this is considered a bad credit score. Lenders will be less likely to take a chance on you when it comes to approving a loan. On the other hand, if you have a high credit score, it is much easier to gain approval for a loan with the lender of your choice.

What affects your credit score?

1. Missing repayments: if you miss loan repayments or are even late in making them, it can have a negative impact on your credit score. According to Experian’s 2019 Know Your Score report, your credit score can drop by 22% if you miss just one credit card repayment. If you’re more than 60 days late on a loan that’s more than $150, the default is listed on your credit report and will remain there for five years.
2. Too many credit applications: every time you enquire for a new line of credit, this is added to your credit report and stays there for five years.
3. Court judgements: having a court judgment listed on your credit report makes you an increased risk to potential lenders. They stay on your file for five years from the date of the judgment. Likewise, if you file for bankruptcy this will affect your credit score for the long term.
4. High credit utilisation ratio: if you are using up all of the credit made available to you, this will negatively impact your credit score. It suggests you’re spread too thin and may be unable to keep up with repayments.
5. Credit history: a long credit history is a good thing. It shows you have been a reliable borrower for a number of years and makes you less of a risk to a potential lender.
6. Credit mix: likewise, utilising a number of different types of credit can also positively affect your credit score. It shows you have a diverse portfolio, and indicates you have a good history with a number of different types of credit.

Looking into what affects your credit score? These are some of the factors that contribute, but there can be many more as well. It’s best to check with your credit bureau for more information.

Of course, sometimes mistakes are made, and a negative listing is popped onto your credit score incorrectly. Let’s take a look at what you can do if this has happened to you.

What Affects Your Credit Score? Now, What Can You Do?

You’ve discovered what affects your credit score, but now, what can you do about it?

You’re able to check your credit score for free once a year, which is a good practice to get into. It allows you to look at any negative listings that have been made against your name, so you can make sure they are all correct.

If you do find an incorrect listing, the best thing you can do is bring in a third party to repair your credit. They can dispute any incorrect listings that appear on your credit score, so you don’t find yourself in a position of having a bad credit score.

Having a bad credit score can affect your future chances of being able to take out a loan or a line of credit, which is why it’s important to keep your credit score as healthy as possible.

Repairing Your Credit

If you do find yourself in a position of bad credit, it always helps to look into credit repair. Finding the help of a third party can ensure your credit report is up to date and correct, giving you the best chance of financial success.

The team at Clean Credit are experts when it comes to fixing credit scores. We can help find any inaccuracies on your credit report and will apply to have them removed on behalf of you. If you’re ready to give your credit score a much-needed boost, get in contact with the friendly team at Clean Credit today.

What Is A Credit File?

Are you wondering what is a credit file? Put simply, it’s a detailed summary of how you’ve handled your past loans and credit accounts. Each listing in your credit file is weighed up to give you a credit score. This is the number potential lenders use to determine whether or not you’re worth the risk. If you have a low credit score, it means you have a poor borrowing history, which makes you a risk to potential lenders. If you have a high credit score, it reflects positively on your borrowing history.

In order to understand exactly what is a credit file, it’s important to look at what makes up a credit file.

What Is A Credit File? What Information Does It Contain?

Are you asking yourself, what is a credit file? There are three credit bureaus in Australia that can provide credit reports, and each one will calculate it a little differently. But here’s the information you can expect to find in yours:

• Personal information: such as your name, address, date of birth and more.
• Credit accounts currently open: it will list the types of accounts you have open, along with how much you have been approved to borrow. If your credit utilisation ratio is too high, this will reflect your credit score. You don’t want to be using all the available credit to you.
• Enquiry information: every time you make an enquiry into a loan or credit provider, this is marked on your file. Too many enquiries suggest you’re borrowing beyond your means, or being knocked back too many times. If you are genuinely shopping around for the best lender, do it in a short space of time for it to only count as the one enquiry.
• Repayments: your credit file will detail how you’ve managed your past debts. Have you made your repayments on time? Have you been late with repayments? Have you missed repayments? A good repayment history will reflect well on your file.
• Outstanding debts: if you’ve failed to repay debts, this will also reflect poorly on your credit score. For example, bankruptcies, court judgments and more.

Good vs Bad Credit File

Now you understand what is a credit file, it’s important to know the difference between a good and bad credit rating.

Your credit rating can be a number from 0 to 1200, depending on your credit bureau. If the score is below 200 it is considered very low. Even if it’s below 500 it can be questionable depending on the lender and could result in a loan application being rejected.

If you find yourself with a bad credit score and are looking to take out a loan, a great option is to go through the process of credit repair.

What Is Credit Repair?

Have a low credit score can affect your ability to take out loans or other forms of credit. Credit repair is the process of fixing poor credit by looking out for any mistakes or inaccuracies listed on your credit file. It usually involves the help of a third-party company, which will attempt to have negative listings removed from your credit file to improve your credit score.

There may be listings on your credit score that are incorrect, which is always the first step for a credit repair company. Some of the things you can get fixed include:

• Errors by the credit reporting agency: your information may have been reported incorrectly. For example, a debt may have been listed twice, or the amount of debt could be incorrect.
• Errors by the credit provider: a credit provide could have given the wrong information. For example, they could have listed a payment overdue when it was paid on time, or created an account by mistake.

Mistakes do happen, and credit repair is one of the best ways to get on top of them and have your file corrected.

Improve Your Credit Score Today

Are you looking to improve your credit score? Contact the experts at Clean Credit today. We’re a credit repair service that will help to improve your rating so you have more opportunities when it comes to taking out loans and other lines of credit in the future. If you’re ready to improve your credit score and get back on track financially, get in touch today.

As a start, if you would like help working out your budget, you may find our free online budgeting tool invaluable. It should enable you to establish how much you can comfortably spend on a gift for your mum. 

1. Flowers

Boring, we know, but most Mums love flowers and they need not cost a lot of money. In fact, a small bouquet of flowers is probably one of the least expensive gifts you can buy for your mum if you look in the right places.

You’ll be surprised by how good the quality and variety of flowers is at your local Coles or Woolies. Just walk in and you can find a beautiful, expensive-looking bouquet of flowers for a fraction of the cost of a traditional flower shop.

2. Chocolates – one of the perfect Mother’s Day gifts on a budget

If your mother has a sweet tooth then why not consider buying her a box of chocolates. Kmart are killing the game at the minute. They have a fantastic selection of quality chocolate on offer at budget prices. Be quick though, because these Mother’s Day discounts won’t last forever!

3. Cookery Book

If your mum enjoys cooking then how about buying her a cookery book. It may give her some great new recipes that she can cook for the whole family. Of course, on Mother’s Day, wouldn’t it be lovely if you cooked a meal for your mum using the cookery book. Amazon is the place to look when you’re searching for a book of this nature. There are thousands of options to choose from and the reviews will make your job a lot easier. Bestselling author and body coach, Joe Wicks is very popular for his books at the minute. Your mum might love Joe’s 30 minute meals or Cooking for family & Friends, especially if she’s into her nutrition and fitness!

4. Notepad

A small notepad is another practical gift that your mother will make good use of. She could use it when doing a shopping list or if she wants to remind herself to do something. If you are considering Mother’s Day gifts on a budget then this could be ideal. Zazzle and Etsy offer some really cute notepads that would bring a smile to your Mum’s face every time she goes to write on it.

5. Soaps and Scents

An unsung hero when it comes to finding Mother’s Day gifts on a budget. If your Mum loves to be pampered then look no further! Beautiful scented candles can be purchased at an affordable price from Koch & Co. If you’re after scented soaps then Forever Exotic offer a fabulous range of natural, Australian made soaps at a really good price.

The Body Shop is a great place to find all-natural pamper bundles. If you can’t decide on one item, then they have some great skincare, fragrance and body care bundles at a reasonable price. A huge recommendation of ours is to visit Lush via their store or website. Their bath bombs are to die for, and at approx $9 per bath bomb, you can really go to town!

6. Jewellery

Most mums enjoy dressing up and putting jewellery on. So, why not consider buying her a piece of jewellery? Don’t panic! There are some really affordable, yet beautiful pieces of jewellery about now. You don’t have to spend thousands anymore for something nice.

If you are looking at Mother’s Day gifts on a budget then you may be pleasantly surprised at how little you can pay for a great looking pair of earrings or a pretty bracelet. Check out Colette Hayman to find beautiful jewellery for under $10!

7. Personalised Pen

If your mum likes writing letters or even if she makes notes she may like a personalised pen with her name on it. You will find a great deal of choice and will hopefully find one that is within your budget. It is something that she will treasure and make good use of. Personalised Favours have seriously cheap, but great personalised gifts for all occasions. Their range of pens is particularly good. Their reviews are also excellent so this could be a great option.

8. Apron

Back to the cooking theme again. If your mum enjoys cooking for the family then she might like a personalized or funny apron. RedBubble have some really funny aprons on offer, take a look!

9. Scarf

For those cooler evenings, your mum may appreciate a scarf or wrap. Fortunately, there is such a variety available whether in shops or online. If you are looking at Mother’s Day gifts on a budget then you will hopefully be able to choose one that is within your price range.

Scarves are surprisingly expensive unless you know where to look… Fortunately, you have us to help! Sportsgirl has a really nice & well-priced range of scarves, as does ASOS. SO go ahead and take a look for yourself.

10. Toiletry Bag

A practical, affordable gift for your mum could be a toiletry bag. Catch.com.au have some top products at low prices. Although not the most exciting sounding gift, your Mum will be able to keep all her toiletries in one place such as soap, toothpaste, makeup, hand cream and perfume. She will be able to take it with her when she goes on holiday.

11. Garden Gloves

Does your mother enjoy spending time in the garden tending to the plants? If so, a pair of garden gloves will protect her hands. They come in a range of sizes and colours so you are sure to find a pair to suit her.

There are some really cute gardening gloves about, but it depends on how much you would like to spend. On the higher end of the budget is Recipe for serenity, where for approx AUD $30 – $60 you can find some really pretty gardening gloves. But if you’re looking at a lower budget then Bunnings Warehouse is your place.

Good Luck Finding Mother’s Day Gifts On A Budget!

We hope that, if you are looking at Mother’s Day gifts on a budget, the above list has given you something to think about. As you will be aware, you can buy gifts either in a shop or online – the choice is yours. As you will discover, you don’t have to spend a large sum of money to make the day special.

Whilst writing, we thought we would briefly mention something else. There may be some of you who are unfortunate enough to have a poor credit rating perhaps through no fault of your own. For instance, you may have lost your job and got behind with your personal loan repayments. If so, why not take a look at our website where you will be able to find ways that you may be able to improve your credit score. We have been able to help many people do just that.

If you are unsure about the advantages of check your credit report more regularly then read on. In this blog, we will help answer: how often should you check your credit report and why?

What Is Your Credit Report?

Your credit report is a summary of how you have handled your credit accounts. Your borrowing history is documented in this report as listings in your account. Based on these listings, you are given a credit score from 0 to 1200.

Your credit report is used by potential lenders to help them decide whether or not they are willing to take a chance on you and offer a loan. You want your credit report to be as accurate as possible, to ensure the information is complete. This is one of the advantages that comes from checking your credit report regularly.

There are three credit bureaus that provide credit reports: Equifax, Experian and TransUnion. For this reason, your credit report could vary from someone else’s, however, each one will contain similar information, including:

• Identifying information
• Credit account information: this includes the lines of credit you have to take off and your payment history.
• Inquiry information: if a credit company or loan provider looks at your credit score (for example, when you have applied for a loan with them), this counts as a hard inquiry and affects your credit report. They can remain there for up to two years.
• Bankruptcies
• Collections accounts

How Often Should You Check Your Credit Report?

Are your wondering how often should you check your credit report? The great news is, you can check it as much as you like, without it having any impact on your credit score. How often you choose to do this is up to you. For some, once a year is enough of an insight to know how you are tracking and where you are sitting financially.

Others may prefer to check it monthly to stay on top of their financial situations. It is worth noting, that by law you can check your credit report once per year free of charge. Any additional checks can cost you money.

Taking into account your personal situations, how often should you check your credit report? This is entirely up to you. But there are many benefits that come with checking it regularly.

Benefits Of Regularly Checking Your Credit Report

How often should you check your credit report? This is a very open-ended question, but there are plenty of benefits that come with checking your credit report frequently. These include:

• Picking up incorrect listings: incorrect listings can appear on your file without you knowing and can affect your credit score. Checking your credit report regularly allows you to stay on top of this.
• Low credit score: if you have a low credit score, it can help to check your report more regularly to see what changes you can make and whether these are having any effect on your score.
• Applying for credit: it is always a good idea to check your credit score before applying for any type of credit. It shows where your credit score is sitting and can help you determine which lender is right for you.
• On-demand: credit scores are updated on demand and changes can affect this, such as applying for new credit, opening or closing an account, and so on. Checking your credit report helps you stay on top of this.

How To Check Your Credit Score

There are a number of ways you can go about checking your credit score. You are entitled to one free check of your credit report per year. Any more checks will cost you money.

You can request your credit score for free on a number of different sites, or by going through a service. You will be asked to confirm important information, such as:

• Name
• Date of birth
• Contact address
• Driver’s Licence number

Once you have put in the request it can take up to 10 days for you to receive the information.

Getting The Right Help

Now that you have an understanding of how often should you check your credit report, you may be looking for a little extra help. Whether you have found yourself in a position of bad credit, or simply noticed a negative listing that is incorrect, the team at Clean Credit can help you out.

We can help you remove incorrectly listed or unlawful defaults, court judgments and black marks on your credit file. We have a number of different credit repair solutions, depending on your needs. Take 30 seconds to get in touch here.

What Is A Credit Score?

A credit score is a number that reflects your borrowing history. The higher it is, the better your history. There are a number of things that can affect your score. These include:

• Late payments
• Defaulting on a loan
• Not enough variety in your type of loans
• Bankruptcy
• Court judgments

If you have a low credit score, it means you have a number of negative listings against your name from past lenders. This can affect your chances of being able to take out a future loan and leave you paying higher interest. Repairing your credit score is the perfect way to give yourself a fresh start.

How To Repair Credit In Time For Easter

The Easter period is hopping in our direction way too fast. When it comes to periods of heavier than usual spending – think Christmas, Easter and other holidays – it always helps to get on top of your finances and make sure your credit is in the best state possible before you enter them.

It means that if you do find yourself needing a loan to help tide you over, you’re already in the best position to take one out. So hop to it! If you’re wondering how to repair credit in time for Easter, it starts with changing your financial habits. Here are some tips:

• Set a budget: it helps to have a clear overview of where your money is going each and every month. Give yourself a monthly allowance and try and stick to it. It helps if you can build up your savings before the holiday period, so you have some money there to fall back on if you need it.
• Pay bills on time: this will help you from getting further negative listings on your credit file that will contribute to your bad credit. Keep note of when bills are due and be sure to pay them on time.
• Pay off high-interest loans first: if you have any outstanding loans, then tackle the high-interest ones first. This will save you from going further into debt, which will then affect your credit score.
• Throw away the credit card: it can be tempting to spend beyond your means when you have a credit card at your disposal. Pop it in a drawer for the next few weeks to take away that temptation. It will make it much easier to stick to a budget.

If you have a poor credit history, it will limit your credit and loan options and means you’ll end up paying more interest. That’s why repairing your credit is such a crucial step. If you’re wondering how to repair credit in time for Easter, consider whether credit repair is the right option for you.

How To Repair Credit In Time For Easter: Credit Repair

Are you wondering how to repair credit in time for Easter? While the tips above will help you get in the best financial position possible, it’s important to go that step further and fix up your credit score. 

If you’re wondering how to repair credit in time for Easter, take a look at credit repair.

Here’s how credit repair works:

A credit score is a number that represents your borrowing history and is displayed in your credit report. If you have a high credit score, it means you’re a reliable borrower with a good track record. If you have a low credit score, it means there are some negative listings against your name, such as late payments, defaults, etc. These listings on your report bring down your credit score and can make it hard to take out a loan. Credit repair aims to fix that.

With a credit repair company, you can have those negative listings removed – where possible – to give your credit score a much-needed boost. Clean Credit have a No Removal No Removal Fee promise. This means that if we are unsuccessful in removing your negative listings, then your removal fee’s will be fully refunded! Credit repair can take as little as 30 days and can put you back on track so you can get favourable interest rates, larger loans and better deals once again.

Credit Repair

Are you ready to get your finances on track and make sure your credit is in the best state possible heading into the Easter period? Clean Credit is here to help. We are one of Australia’s leading credit repair specialists, who can help improve your credit score by removing negative listings. We have a high success rate, so you can get that fresh financial start you’re after and are here toms support you around the clock. Take 30 seconds to fill out an enquiry form and start getting help today.

In an ideal world, you would have a savings account as a safety net, but this isn’t always the case. Whether you get into an accident, need to repair your car or have damage to your home, these unexpected situations can leave you in a position of bad credit. So, what is bad credit?

What Is Bad Credit?

Are you wondering: what is bad credit? If you have missed a repayment on a loan, defaulted on it completely, or done anything else that may reflect poorly on your lending history, this will leave a negative listing on your credit file.

Everyone has a credit score, which is a number between 0 and 1200 (depending upon the credit reporting agency) that is determined by your credit report. There are a number of factors that contribute to your credit score, such as borrowing history, repayments, defaults, court judgements and bankruptcy.

So, what is bad credit? When your credit score is sitting under 500, it is considered to be a bad credit score. This means that taking out a future loan will be extra difficult. Lenders use your credit score to determine your value as a borrower and how reliable you are. If you have a bad credit score, they are less likely to take a risk on you.

Thankfully, if you are willing to look beyond traditional lenders, such as banks, there are those out there who will take you on with a bad credit loan.

How To Fix Bad Credit

Unfortunately, there is no easy fix when it comes to bad credit. It generally just takes time, waiting it out until the negative listing is cleared from your file. However, here are some steps you can take:

1. Check for errors: people make mistakes. Make sure you check your credit file and make sure all the listings are correct. If you see an error, then report it.
2. Lower your credit card limit.
3. Avoid taking out further loans.
4. Pay all your bills and repayments on time.
5. Be patient. It does take time, but you will notice improvements if you make these changes.

What Is Bad Credit? Bad Credit Loans

Now that you understand what is bad credit, you might be wondering what options there are for you when it comes to your borrowing ability. Ideally, it’s a good idea to fix up your credit report to get you back on track financially. Unless you believe there was a credit reporting error, then the first step should always be to pay back the loan which is owed. This will be noted on your file and shows that you made a good effort to rectify your mistake.

Negative credit listings generally stay on a credit file for up to five years depending on your circumstances. So if you don’t want to wait that long then credit repair is your best option. Clean Credit are credit repair experts who can dispute any negative credit listings on your behalf. We have helped thousands of Aussie’s to repair their credit file and get back on track. After enquiring, in some cases, you could have your slate wiped clean within as little as 30 days.

If you are not willing to wait a little while for your credit file repair, or if you cannot afford the fee’s that come with credit repair, then do have the option to take out a bad credit loan.

Bad Credit Loans

What is a bad credit loan? Bad credit loans are exactly as they sound. They are loans for people who find themselves in a position of bad credit. Often the lender is willing to overlook your credit score and take into account your personal circumstances. Instead, they are more interested in your current finances, and whether or not you have the ability to pay back your loan.

It’s important to note that most bad credit loans will come with higher interest rates than normal loans. This is because the lender is taking on all the risk in this circumstance. You need to make sure you can afford the repayments with the higher interest rates before going ahead. After asking “what is bad credit”, the next thing to do is to find out how you can avoid it.

The good news is a bad credit loan can help improve your credit score. Assuming you pay it back on time and meet all the repayments, it will reflect positively on your borrowing ability. However, at the end of the day, if you are looking for more control over your finances and more say in taking out a loan, you need to take a look at your credit history and get it back on track.

Getting Back On Track

The first step is to get yourself back on track financially. There is no point in taking out a new loan unless you feel confident that you have the means to pay it back. If you are looking to give your credit score a much-needed boost, then speak to the team at Clean Credit today.

As one of Australia’s leading credit repair companies, we can help you regain control of your finances and repair your credit. This will broaden your options when it comes to taking out that next loan. Find the help you need and get in touch today.

This then puts you in a position of overdue debt, also known as a default. In this article, we will explain exactly what is a credit default and how to stop it from impacting your credit file.

What Is A Credit Default?

Are you wondering what is a credit default? Put simply, when you are unable to make a repayment on a loan, your debt becomes overdue. This is also known as defaulting on a loan. A default can occur when you fail to pay the interest or principal on the loan, but it only refers to debts that are over $150 and are more than 60 days overdue for payment.

When you take out a loan, you enter into a debt obligation. Failing to make payments or stopping them altogether can have serious consequences.

When examining what is a credit default, it’s important to take a look at the impact it can have on your credit file and what this can mean when it comes to taking out loans in the future.

What Is A Credit Default And How Can It Affect You?

There are many different reasons you could find yourself in the position of being unable to pay back a loan. Unforeseen circumstances can crop up in life and leave you strapped for cash when you need it most. From getting into a car accident and needing to pay for repairs to suddenly fall ill and having to pay for hospital bills. These situations don’t make you a bad borrower, but they can leave you in a bad financial position and struggling to meet repayments. When you take out a loan, you don’t plan for these unexpected situations.

What is a credit default? When you are unable to pay back a loan, you default on that loan. Once that debt is more than 60 days overdue, the company can report it to a credit reporting body, and from there that default is listed on your credit file. It will stay there for up to five years.

Your credit report stores your financial history and is a summary of how you have handled credit. This information is used to give you a credit score. A low credit score means you have a number of negative listings on your file and can make it hard to take out a loan in the future. A high credit score means you have a good financial history, which is appealing to lenders.

Essentially, defaulting on a loan can seriously affect your credit score, lowering your chances of being able to take out future loans.

What Can Be Done?

Now we know exactly what is a credit default and how it can affect our credit score, the next question to ask ourselves is what can be done about it? Firstly, if you think there has been a mistake then call the company and explain the issue and try and resolve it. If it isn’t a mistake then you need to take the right measures to fix it.

The most important thing is to sort out the loan you have defaulted on. While paying the default won’t remove the listing from your credit file, it will be updated to reflect this. If you find yourself unable to pay back the debt, call up your creditors and see if you can work out a new repayment schedule that suits your circumstances. There is plenty of help out there to get you back on track.

The next step to explore is credit repair services. These services will investigate, dispute and remove negative listings from your file and help you get back on track financially. They effectively communicate the circumstances that left you unable to pay off your loan and aim to have your credit default reviewed and removed altogether. This leaves you with the best chances of being able to take out another loan in the future.

Get Credit Repair Help Today

Clean Credit provides expert credit repair services to help get you back on track. We understand that things happen that are beyond your control but the good news is that negative listings can be removed from your credit file with our help. Here’s how it works:

1. Enquire: complete an enquiry form within 30 seconds.
2. Investigate: our team will take you through your credit report and discuss your credit default and how it is affecting your score.
3. Dispute: we then work on disputing your case.
4. Remove: if successful, your credit default(s) will be removed and your credit score restored.

Get started today and give your credit score the boost it needs.

Who Can Have A Credit Card?

In Australia, credit cards are legally available to anyone aged 18 years or over. To apply you will need to have a good credit history and meet the minimum criteria set out by the financial institution. These criteria can include:

• Over 18 years of age
• Be an Australian citizen or permanent resident
• Not bankrupt
• Demonstrate the ability to repay the maximum credit limit on the card
• Have a good credit history

It is possible to have credit cards from multiple lenders, not all of which will be a traditional bank. Financial institutions such as American Express, for example, offer credit cards, as do grocery chains such as Coles and Woolworths. The latter will be underwritten by a financial institution.  No matter where you take one out, credit card advantages and disadvantages will apply. 

Should I Have A Credit Card?

The decision about whether or not to apply for a credit card is one you should take seriously. Are you someone who has always been disciplined with your money and are sure you will always pay your balance off at the end of each month? If so, credit cards can actually be very beneficial. 

If you consistently pay bills late, struggle to save or have erratic income – as tempting as credit is, you may be best to avoid it. Credit card debt can quickly spiral and cause significant financial distress.

Whether you should have a credit card or not is best decided once you understand credit card advantages and disadvantages.

Credit Card Advantages And Disadvantages

As mentioned above, there are lots of pros and cons to having a credit card, namely:

Advantages

• You don’t need to secure any personal assets against this form of finance
• Fast & convenient form of finance
• Once approved, the card is there for you to use whenever you want to.
• Can positively affect your credit score if you are responsible with repayments.
• Rewards programs with points per dollar spent and frequent flyer miles accrued with purchasing.
• Cashback offers for qualifying spends
• Features such as insurances covering purchases, rental cars, travel etc
• Airport lounge access
• Ideal for travel
• Safer than cash – can be locked when lost or stolen
• They’re convenient and useful in emergencies 

Disadvantages

• Higher interest rates than other forms of finance
• Leading cause of damage to your credit file when used irresponsibly
• A rewards program isn’t always beneficial to the cardholder and can attract its own fees
• Risk of credit card fraud
• Balance can quickly get out of hand with added interest if you do not keep on top of repayments.
• Surcharges on purchases and cash advance costs
• Annual fees that often outweigh the ‘rewards’
• ‘Other’ fees such as late fees, balance transfer fees, overseas transaction fees etc
• Can be viewed as ‘potential’ debt when applying for loans, even if paid down in full

How To Choose The Right Credit Card

There are hundreds of credit cards to choose from. One is not the same as another and they will all have different terms and conditions attached. When selecting a credit card you should focus on:

1. Working out how much you can afford to repay each month, focusing on whether you can repay the full balance by month’s end or not. If you can afford the full balance, you will often find better rewards cards with high-interest rates, so you must ensure you pay it down. If you will not be able to guarantee the settlement of the balance each month, focus more on low-interest rates than any bells and whistles. You can plan your budget effectively by using a budget planner.
2. Choose a limit you can afford. If you do not need it, do not tempt yourself with a high available balance. High available balance can also be viewed negatively when applying for a home loan as it is ‘potential debt’. If your credit card is simply back up for emergencies, it makes sense to keep a low balance.
3. Weigh up the interest rate, interest-free period, any introductory interest rates vs ongoing rate. Compare the fees and charges also as well as any applicable rewards and extras such as insurance.
4. Compare store-cards to banks and other lenders and ensure your chosen product is competitive. You do not have to take out a card with your usual bank.
5. Understand how much you will have to repay each month by using a loan repayment calculator.

Stay On Top Of Your Credit Card Debt

By understanding credit card advantages and disadvantages before taking one on, you are better positioned to enjoy its benefits. Should the worst happen and you begin to miss payments and your credit score is impacted, we can help.

At Clean Credit, we are the experts in repairing your credit score. Whether it is something as simple as a credit enquiry or as servere as a court judgment, we can help you on the road to financial freedom. Call today on 1300 015 210.

When To Use A Credit Card

Credit cards can be marvellous things, a tiny piece of plastic that gives you access to a huge amount of spend. They do however have their limitations. Unlike a charge card, they have a finite limit to what you can spend, there can also be limitations to what you purchase with them.

Additionally, they have high-interest rates and strict repayment terms each month, meaning they are best suited for small purchases that you can pay off quickly. 

When To Undertake A Personal Loan

Conversely, personal loans are better suited to large purchases that you require more time to pay off. Personal loans give you much more competitive interest than that offered by credit cards as well as an extended loan term. 

Most personal loans will have terms between one and five years in length. Allowing you to spread the cost out and make more manageable payments.

Personal Loans Vs Credit Cards

So how do personal loans vs credit cards differ? 

Credit Cards

• Revolving line of credit that can be repaid and utilised again and again for an indefinite period of time.
• Strict repayment conditions month on month.
• Higher interest rates than personal loans. 
• Zero-interest if repaid within the set period. 
• No security needed.
• Once you hold the card, you can spend the balance on whatever you like.
• You can apply for credit increases as needed, offering great flexibility.

Personal Loans 

• Lump-sum payment for use in a finite term.
• Flexible terms negotiated at time of loan application. 
• Lower interest rates than credit cards. 
• Interest applies for the term of the loan. 
• Competitive borrowing option for those with a good credit score. 
• Usually requires some kind of collateral or security against the loan. 
• The application will require a stated reason for the loan.

Personal Loans Vs Credit Cards – Which One Is For You?

So how to choose between personal loans vs credit cards? There is a number of factors to consider:

1. How much do you need?

If it’s a significant amount, a personal loan will offer you a lower interest rate. Keep in mind that even with a secured personal loan, you will not be able to borrow more than the value of the item used as security. Unsecured the maximum a personal loan can provide is around 55,000. A credit card can potentially offer you more but will have strict qualifying criteria. When looking at getting a credit card it is important to shop around for the best rates first. Companies such as ‘Rate City‘ are good for this.

2. What will you be using the funds for?

If it’s funding for a one-off purchase such as a car, a personal loan may be more suitable. If you need access to ongoing funds in various amounts, a credit card may work better. The downside of that being that the rolling terms may discourage you from fully repaying the debt.  

3. Are you consolidating a debt?

Not all lenders will permit you to roll debts or consolidate them on their products. So you are best to speak with an expert in debt consolidation in these instances to ensure you get the best offer. Having said that, choosing between a personal loan vs credit card, a personal loan can be a great option for consolidating and clearing multiple debts. 

4. What are your repayment habits like? 

If your track record of managing debt isn’t the best, a personal loan may be the better option. The last thing you want is to not be able to make large monthly repayments on a credit card that then accrues high interest.

The temptation to overspend on credit may also be too much. A personal loan gives you a lump sum agreed upon at the time of application – no risk of overspending.  

Choose Carefully And Keep Your Credit Score Healthy

The personal loans vs credit cards debate is a great one, but ultimately, no matter what you choose, you can still get into financial distress if you do not repay the loan responsibly. Both options represent risk and rely on the borrower to act with discipline. Both have consequences if left unpaid. Both can damage your credit score if not paid down under the original terms and conditions.

With a poor credit history, you’re also less likely to be offered competitive rates and loan terms. Even a few missed payments can create damage to your financial history. Past issues could inhibit you from gaining approval for a personal loan or credit card. If you have a poor credit history and need help to get back on track, our team can help. At Clean Credit, we work hard to clean your credit history and take charge of your financial situation. Call us today on 1300 015 210.

But before you panic, read up on ‘what happens if I miss a loan payment?’ Learn what you can do to repair the mistake and avoid missing them in future. 

Understanding Your Loan Terms

When you first begin the process of taking on a loan, you will have been provided with a significant amount of paperwork. This paperwork will relate in detail the terms of your loan. There is likely to be a lengthy section devoted to ‘what happens if I miss a loan payment’.

Before you sign on the dotted line, it is important you are across these terms and conditions. If you do not understand or require clarification of the terms, always speak with the lender before taking on the loan. 

Once you have signed, you are indicating that you agree with everything outlined and the document is legally binding. Your lender takes this to mean that you know exactly ‘what happens if I miss a loan payment’.

What Happens If I Miss A Loan Payment?

The consequences of missing a loan payment will depend on your lender and the type of loan you have. It will also depend on whether this is a one-off or repeat occurrence. Penalties involved can include:

1. Late fees: this can be a flat rate or a percentage of the outstanding balance. 
2. Sale or seizure: of the collateral or security used to obtain the loan. 
3. Loan extension: the lender can add the missed payments to the loan and extend its duration, making money on the interest paid on the remaining balance.
4. Referral of the debt: to a collection agency.  
5. Lowered credit score: potentially a default on your credit history. 
6. Difficulty: gaining approval for loans in future. 
7. Legal action: for repeated missed payments, including court judgments.

What Does It Mean If I Get A Default?

If a string of late payments has led to you having a default on your credit score, it’s something you will need to address. A default is recorded on your credit history for a period of up to five years. Even if the debt is cleared, this black mark remains. Impacting your ability to take our future loans, get a credit card and even something as simple as a phone plan. 

A single missed payment won’t lead to a default, but it should be treated as if it would. Most lenders will understand that mistakes can happen and circumstances can change. However if you do not demonstrate responsibility as a borrower, things can quickly escalate.

What If I Know I Can’t Make The Next Payment?

Be proactive. If you know you cannot make the payment in advance, contact your lender and discuss it with them. They may be able to negotiate a solution with you such as:

• Suspension of the next payment.
• Negotiate a new timeframe within which to make the payment.
• Adjusting your loan term to create lower monthly repayments. 
• Referral to the financial hardship team if you anticipate ongoing issues. 

Waiting till after you’ve received a default notice is to be avoided at all costs. Once this occurs it can be much harder to negotiate your loan. Meaning finding a way forward and avoiding future missed payments will be more difficult. 

How To Avoid Missed Payments

The best solution to ever being in the situation of wondering ‘what happens if I miss a loan payment?’ is to never be in it. There are some easy steps you can take to avoid missing loan payments:

• Set reminders in your calendar.
• Set up a direct debit ensuring funds are deducted automatically from your account. 
• Have a budget that factors in the repayment and stick to it so you’re never short on funds to pay it.
• Pay more than the usual amount so if you ever miss a repayment in error, you’re already ahead. Meaning it’s not noted as a missed payment. 

If you’re struggling to repay your loan, prioritise speaking with your lender. 

Has Your Credit Score Been Damaged By Missed Loan Repayments? 

Transparency with your lender can go a long way towards helping you manage the situation. It can also help you avoid significant damage to your credit score – something that can haunt you for years to come. 

If your credit score has been damaged by missed loan payments, all is not lost. At Clean Credit, we specialise in repairing your credit score. We understand that missed payments and defaults can happen to anyone. Don’t be stuck in the consequences of a default. Call us today on 1300 015 210.