NSW Agree to Consent Orders - Will it Affect Credit Rating?

Australia's #1 for Law
Join 150,000 Australians every month. Ask a question, respond to a question and better understand the law today!
FREE - Join Now

CMW

Member
28 August 2014
1
0
1
I agreed with the Plaintiff about the amount of debt owing ,however requested time to pay which the Plaintiff has agreed to. The Plaintiff is asking for a consent orders to be submitted to the court, but no mention of the agreed payment terms. Is this a problem? And does a consent order have any affect on credit rating or a future credit check?
 

Sarah J

Well-Known Member
16 July 2014
1,314
250
2,389
Melbourne, Victoria
Hi CMW,

A consent order, in itself, should not affect your credit rating. It is merely a way of ensuring the legal enforceability of an agreement reached by two parties. A consent order then becomes treated by the court like a judgment.

Whether or not your credit rating is affected depends on whether you default on the debt (agreement) or not.