A large majority of Australians haven’t got a clue what’s in their credit report, so it’s unsurprising that some only discover blemishes on their file when they’ve already applied for a loan. That’s bad news for them, as they might get rejected even when the rest of their application stacks up.
But as their broker, it’s also bad news for you. You’ve done a significant amount of work that would be wasted now you can’t get a deal over the line. If your client doesn’t get a loan, you’ll miss out on your commission.
How credit repair agencies can help
Creditors sometimes put black marks on people’s files, even when they shouldn’t be there. A reputable credit repair agency can find and remove inaccurate negative listings from your client’s report. This then gives them a better chance of approval on any future loan application.
So referring your clients to a quality credit repair agency is a win for them – and a win for you. Because once their credit problem is solved, you can help get them a loan.
Can my client do this for themselves?
Yes, your clients can represent themselves. But credit repair is a very complex area of law, so the odds may be stacked against them. Getting an incorrect listing successfully removed requires legal knowledge and an expert understanding of how the system works.
Why quality matters in credit repair
Unfortunately, there are some dishonest credit repair companies about who’ll make unrealistic promises to your clients. Partnering with companies like this could impact negatively on your reputation as a trustworthy broker.
So it’s important to only refer your clients to a quality agency. These agencies are always upfront about the client’s likelihood of success, and only take on cases where they believe they can help.
Partner with Credit Repair Solicitors today and help your clients solve their credit problems by emailing info@crsolicitors.com.au
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