VIC How to Get Commercial Default Off of Credit Report?

[Crazyheart]

Hi,

Can someone tell me, how can I remove commercial default in my personal Veda report? Is there a way to take to the court get an order to remove it?

Also creditor's lawyers have requested the commercial default to be removed in my credit report through Veda by sending relevant documents. Veda refused to remove it.

Thanks

 

[Rob Legat - SBPL]

If the creditor has asked to remove it and Veda (now Equifax) have refused, that’s an unusual case. Normally the credit reporting bodies are too quick to remove it. Have they given you a reason? There are circumstances where a listing must not be removed.

There is another option to going to court. Equifax are a member of external dispute resolution provider the Credit and Investments Ombudsman (www.cio.org.au).

Make a complaint to Equifax first. They must be given the opportunity to deal with it internally before you can take it to CIO. If you’re not happy with Equifax’s response, escalate it to CIO.

The process is completely free to you. If you don’t like the decision, it’s not binding on you. If you do like the decision, it is binding on Equifax.

 

[Crazyheart]

Hi Rob,

Can you please tell me more about the option that I can take it to court. Also please see this link 756E38FB-C953-4E64-85D7-D3DC3595A574.jpeg - Click to see more photos for Veda’s response and please advise me.

Thanks

 

[Crazyheart]

If the creditor has asked to remove it and Veda (now Equifax) have refused, that’s an unusual case. Normally the credit reporting bodies are too quick to remove it. Have they given you a reason? There are circumstances where a listing must not be removed.

There is another option to going to court. Equifax are a member of external dispute resolution provider the Credit and Investments Ombudsman (www.cio.org.au).

Make a complaint to Equifax first. They must be given the opportunity to deal with it internally before you can take it to CIO. If you’re not happy with Equifax’s response, escalate it to CIO.

The process is completely free to you. If you don’t like the decision, it’s not binding on you. If you do like the decision, it is binding on Equifax.

Hi Rob,

Can you please tell me more about the option that I can take it to court. Also please see this link 756E38FB-C953-4E64-85D7-D3DC3595A574.jpeg - Click to see more photos for Veda’s response and please advise me.

Thanks

 

[Rob Legat - SBPL]

Hi Crazyheart,

Please be aware this is not advice. I can't, and won't, advise you without full and complete details of the matter and a formal client engagement. This is especially the case when it possibly appears you already have retained legal representation from the Equifax letter. I note you said the creditor's solicitors above, but the letter you linked doesn't appear to be written that way.

You don't escalate it to court - you take to the CIO, who are the external dispute resolution providers for Equifax.

It appears to me though that Equifax's response is correct. You cannot remove correct information from a credit file, there is a legislated requirement for the information to be accurate, complete and up to date. If the default was made, which seems likely given court action was taken, then 'paid' is likely to be accurate.

Of course, in my experience CIO doesn't tend to care about accuracy and has no problem ordering the removal of credit file listings.

 

[Crazyheart]

Hi Crazyheart,

Please be aware this is not advice. I can't, and won't, advise you without full and complete details of the matter and a formal client engagement. This is especially the case when it possibly appears you already have retained legal representation from the Equifax letter. I note you said the creditor's solicitors above, but the letter you linked doesn't appear to be written that way.

You don't escalate it to court - you take to the CIO, who are the external dispute resolution providers for Equifax.

It appears to me though that Equifax's response is correct. You cannot remove correct information from a credit file, there is a legislated requirement for the information to be accurate, complete and up to date. If the default was made, which seems likely given court action was taken, then 'paid' is likely to be accurate.

Of course, in my experience CIO doesn't tend to care about accuracy and has no problem ordering the removal of credit file listings.

Hi Rob,

They are stramit representatives not my mine because I have made a agreement with them once they receive the payment for stramit they should remove the commercial default in my Veda credit report.

Thanks

 

[Rob Legat - SBPL]

Then it won't be getting lifted easily (if at all). The only way it should be removed under the legislation is if it was incorrectly listed in the first place. If it was correctly listed, and has been paid - then it should remain with the status of "paid".

 

[Tim W]

I agree with the above.
If it is accurately recorded, and has been paid, then that's what the history should say.

The fact that you want to conceal if from future creditors is not a factor.