There are companies like Credit Repair Australia who help everyday Australians, but can they make the situation worse? Sometimes, yes!
The thing is, without these companies a lot of Australians would suffer from inflated interest rates which are unfortunate. So it’s like a catch-22.
Do you pay them to repair your credit history or do you apply for finance and see what happens? Remember that if you apply once and you don’t like the interest rate, then it’s fickle to apply later on.
In this review of Credit Repair Australia, we’re going to share our experiences plus our opinions on people’s negative experiences.
Let’s get started.
Credit Repair Australia Reviewed
You’re looking to get your credit history repaired so you can apply for finance. Good idea in our opinion because it often results in cheaper interest rates.
There are times when errors have been made on your credit file which you can remove yourself. However, some of them are legitimate. That’s when you gotta engage the professionals!
Credit Repair recently came to our attention so we decided to experience the product ourselves. Essentially, we went through the process to see if they could remove 2 black marks on our credit file.
- A documented default from 3 years ago
- A missed repayment from 2 months ago
Both were from an individual that we know who we represented in this case. They were working full-time with regular income and otherwise clean credit history. The purpose of engaging this company was so the individual could get a better interest rate from a mainstream lender, instead of a non-conforming loan.
But before we went through that, we decided to do some research ourselves into this company. After all, if we’re paying $300+ for this service, we wanna know if they’re the real deal.
In business for 17 years now. That gives us a boost of confidence!
Then we checked the most popular review site around:
While 4.2 stars don’t seem that high, we did see that those leaving 1-star reviews were often people who just were too far gone it seems. If you have 13 black marks on your credit file, you can’t reasonably expect any of these companies to even get half of these cleaned off.
So we made our enquiry and went through the process. All up it took 3 weeks which was a bit long but we were also patient.
During the 1st phone call, we hit them up with a ton of questions. Why? Because we wanted to test the knowledge of their staff.
See, some of these companies offload their call centre to the Philippines. With Credit Repair Australia, we got an Australian person and it seems like all of their staff are local which is what we like to see.
We also emailed a few questions after that first phone call and they got back during the next business day. It was clear that they were doing their best to help given the information provided.
Was it cheap? No. The pricing with Credit Repair Australia depends on your individual situation. It could cost just $200 or up to $1,500. It really depends and they can quote you once they get a snapshot of your financial affairs.
Most importantly, was it worth it? For the individual that we enlisted to help create this review, it definitely was. The credit report was wiped clean though the credit score didn’t really improve. They said it takes a few months for individual ratings to start climbing again.
Explaining the negative reviews
We evaluated the people who left their bad experiences about Credit Repair Australia online and we saw a common trend. These people just hate…well…everything! If they don’t get a hug and a kiss then you can expect a 1-star review.
In all seriousness, they likely didn’t get approved because they’re too far gone. That’s one of the disadvantages of using this company actually – they can’t help everyone, despite their extensive nation-wide marketing campaigns.
At the end of the day, you get a free consultation. During that time they will assess if you’re a good candidate. All the debt repair companies use this same practice.
Those people who leave their negative experiences generally didn’t get past this stage. Therefore, they just didn’t get a result despite not paying anything.
The best way to address this problem is to engage with them and go through the process.
Is Credit Repair Australia legit?
Yes – from our experience we’ve found Credit Repair Australia to be genuine. You’ll engage with a real staff member who walks you through the process with a free introductory call included.
How much does Credit Repair Australia cost?
It depends. The fees that Credit Repair Australia charges differs from person to person, with the cost being as low as $300. It’s FREE to have a discovery call. The dude with 4 black marks is going to get a higher price than the woman with 1 black mark which was merely an unpaid phone bill.
What do they do?
They look at your Australian credit file and do their best to remove black marks that aren’t genuine. Even if they are genuine, having been in business for 20 years, they know some tricks of the trade to get those bad marks removed.
Our final verdict
The process worked for us but it may or may not work for you. Everyone is different with a unique financial situation.
The main question is: Would we recommend them?
As Australia’s leading website which promotes debt-free living, absolutely! They are clearly a rock-solid company keen to make a difference.
These companies are out to help people just like you. We went a road-tested the offering and it worked for us. On the flip side, payday lenders just want your money.
We’re advocates of reducing or eliminating your debts over time. Using a company which can repair your credit history and erase black marks can be the 1st step in that process.
From there, consider a debt consolidation loan so you’ll potentially have cheaper interest rates. We’d love to have a chat with you about that over the phone.
What’s most important is that you take action and start the journey today. Whether that’s through Credit Repair Australia or any other company, it’s time to make a solid change in your financial life.