What can I do about a default on my credit file?

There are avenues you can utilise to have your complaint addressed. However, you must be aware that it is standard procedure for a default to remain on a persons credit file for up to five years - it can be listed as paid, however it will not be removed.

The following steps can be taken to address concerns you may have about your credit file:

  • Step 1: If you haven't done so already, get a copy of your credit report. If the information in your credit record is wrong or misleading you can make a complaint.
  • Step 2: Write to the credit provider to raise your dispute. You need to give reasons as to why the listing is misleading or incorrect.
  • Step 3: If you do not receive a satisfactory response to your complaint you can make a written complaint to the Federal Privacy Commissioner.

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D&B's new book, Dun & Bradstreet's Guide to Cash Flow and Credit Risk, provides expert advice for SMEs on improving cash flow and reducing bad debt. It provides hints and tips on a range of issues including: developing and implementing a credit policy; managing receivables; credit management for overseas customers; and using credit data in your marketing.
 
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