Debt is a reality for many Australians. But, sometimes it can be a struggle to stay on top of all your obligations. While it can feel overwhelming, ignoring debt can make the problem worse. So here are five tips to get yourself back on track. 1. Get a clear picture When tackling debt, a good …
Bad credit negatively affects your life. It can make it harder to get approved for a loan, as lenders often question your ability to repay debts. Those that will lend you money may charge higher interest rates – so you end up paying back more over the life of the loan. But what exactly is …
Should your clients repair their credit score themselves? Read More »
Bad credit negatively affects your life. It can make it harder to get approved for a loan, as lenders often question your ability to repay debts. Those that will lend you money may charge higher interest rates – so you end up paying back more over the life of the loan. But what exactly is …
How bad credit can wreak havoc on your credit file Read More »
If your client has credit problems, it can be disheartening. They might struggle to get approved for a loan, which means you, as their broker, can do a lot of work for no commission. But, sometimes, the black marks dragging down your client’s score shouldn’t be on their file. That’s where partnering with a good …
Partnering with credit repair agencies: the good, the bad and the downright ugly… Read More »
Credit scores aren’t set in stone. They can go up and down depending on your financial behaviour. But what are the signs that you may need to get back on track with yours? 1. You get rejected on loan applications Many lenders check your credit score when they assess your suitability for a loan. If …
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 …
Why every broker needs to partner with a quality credit repair agency Read More »
If you have a client that’s struggling with spiralling debt, bankruptcy may seem like their best option. But while bankruptcy can give them a ‘fresh start’ by releasing them from some unsecured debt, it has serious long-term financial and personal repercussions. These may include: A permanent record on the National Personal Insolvency Index and the …
What’s the best non-bankruptcy alternative for your clients? Read More »
Your credit score plays a big role in determining whether you get approved or rejected for a loan. So what do you do if your credit score is low and you keep getting knocked back? The most important thing is not to stress. Credit scores aren’t set in stone and go up and down depending on …
As a broker, it can be frustrating when you’ve put a lot of work into a client’s loan application only to discover they have a poor credit score. If they then get rejected, you’ll miss out on your commission payment. But if you can help your client improve their score, it increases their odds of …
5 ways you can help your clients boost their credit scores Read More »
Is it positive? Is it beneficial? Can it increase your score? Short answer is yes. New Comprehensive Reporting CAN be positive and beneficial to your credit score. If you are organised, pay every bill on time, have never experienced any hardship or difficulty and have never had any technical issues with a direct debit or repayment on …
New Positive Credit Reporting – What you need to know. Read More »
