Beware the internal black mark

The responsibility lies with brokers to ask prospective clients whether they have adverse listings on their credit file. Brokers tell me this question often elicits a blank look and a defensive “no” from the client, but the broker senses they may not be telling the...

The dark side of comprehensive credit reporting

What can we learn from the UK’s experience of comprehensive credit reporting? In March 2014, Australia introduced comprehensive credit reporting, a regime that was established in the UK, USA and other countries over 10 years ago. The change sent shivers up my...

Why I love doing credit repair

The other day I was thinking about why I love doing credit repair and got to the nub of it by talking it over with my partner. I love doing credit repair because it helps one consumer or company at a time get back on a good financial track. There is a bank of stories...

Credit repair company fires back at COSL

The credit repair industry has fired back over a COSL release threatening to stop dealing with them. The Credit Ombudsman last week announced it was proposing to no longer deal with representatives of consumers – namely credit repair companies – “who...

Is credit repair ethical?

Last week, I had a revealing discussion with a broker about assisting a client with a default on his credit file. The broker said, “I don’t believe you can do this”, to which I replied “Do you believe it can’t be done or do you think we shouldn’t be doing this for...