Changes to Credit Reporting – Protect your credit score and credit file

Writen by: on March 12, 2014



I realise this sounds rather boring, sometime the most boring topics are the most important. Your credit file plays a key factor in determining your potential finance options. Including lenders, rates and terms of loan contracts.

On the 12th March 2014 the changes to privacy laws will have the following impacts on credit reporting. More detailed information will be able to be placed on your credit reports held by Veda. The most significant changes for individuals include –

  1. Detailed information on the current credit that is held by an individual
  2. The day that the finance is taken out and when it is closed
  3. Repayment history – details on late and early payments

Your credit file has never been more important and protecting it vital

I encourage all of my clients to pay a visit to http://www.veda.com.au/ and read up on the latest ways to monitor your credit file, it is quite costly to repair, once the damage has been done.

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Barbara has been working with Australian families, couples and singles on their property journey for 18 years. During that time her background in tax and accounting has helped to assist her with investor clients. Some clients are ready to buy and other's require a strategy and years of assistance to get property ready, that's Barbara's strength. Working with people to achieve their goals for the long term. “The real secret of happiness is not what you have or what you receive; it’s what you share.” You can find her on Google+ and facebook or write to her at [email protected].