Back menu

Bad Credit

Jump to Bottom ...
Page 1 of 2
  • deepbeetzz
  • So the Mrs just got rejected for a small personal loan. This was for us to get some new furniture and stuff as we are moving into a new place. Anyway apparently there is a black mark against her credit, which is news to us. We have requested a credit report, which we will get in the coming days. But what, if anything can be done about a black mark. We suspect it is a small phone bill that wasnt really our fault and was paid promptley once some issues re it were sorted. Is there sone type of appeal or anything we can do? Doesnt that black mark stay with you for five years or something

    thanks

    db
  • Random_Kiwi
  • 5-7 years I believe.
    Was the load from a bank?
    Those dodgey finance companies would probably still take you on...if it was one of them that rejected you then you're a bit screwed.

    There would be a way to appeal for the black marks removal I'd say, but no idea through who.

    Good luck.
  • Patopeaking
  • Contact Baycorp for your bad credit history
  • circular
  • One of my old flatmates worked at baycorp. She said that if a debt is paid off it should be removed from the credit file, the 5-7 years is for debts that arent paid off. Sometimes creditors can be slack about updating your file with baycorp after you pay, and in that case you can contact the creditor and ask to have them remove the listing.
    I dunno how current that info is, I would call baycorp if I were you
  • Kinki Jedi
  • For the bank I work for, for personal loans it's something like $500 worth of accumulated strikes as a limit. These are ones that have been paid too.

    Main people I've see get caught on this are younger people and phone companies.
  • Galactic Soap
  • Quote:

    Originally Posted by circular

    One of my old flatmates worked at baycorp. She said that if a debt is paid off it should be removed from the credit file, the 5-7 years is for debts that arent paid off. Sometimes creditors can be slack about updating your file with baycorp after you pay, and in that case you can contact the creditor and ask to have them remove the listing.
    I dunno how current that info is, I would call baycorp if I were you

    No thats not correct, if you've been listed with baycorp then your listed. The listing gets updated to either paid or unpaid, or if a summons has been issued then a legal listings placed against your name, but alas once its there, its there for 5 years.

    Listing - Paid
    Duration of listing on your credit file - 5 years
    The debt was listed against your name due to not complying with the credit contract.

    Listing - Unpaid
    Duration of listing on your credit file - 5 years
    Possibility of legal action being undertaken
    The debt has been listed against your name, thus far the debt hasn't been paid.

    Legal Action (Summons issued) - Paid/Unpaid
    Duration of listing on your credit file - 7 years
    The debt has been listed against your name and a summons allowing further legal action to be issued.

    Bankruptcy/Insolvency
    Duration of listing on your credit file - 10 years

    deepbeetzz - If it is for a phone bill then don't stress too much, having worked in finance for the last 6 years I know all major lenders make an allowance specifically for phone bill related listings.

    If the debts been paid, and hasn't been updated as paid make sure you get the company involved to update the paid date as per the date the payment hit their system.

    IF the debt hasn't been paid, pay it, and be honest in your next credit application for a personal loan, you should be right.

    Be careful with your credit file ladies and gents, I purchased my credit report a good four years ago, and pay Baycorp a one off $30 fee to keep me up to date with any inquiries that are placed against my name.
  • Gee Frizz
  • I'm in a whole world of trouble with my credit.

    It bothers me not though because I don't intend on borrowing any money any time soon and it'll be years before I'd want to own a home.

    I have to do something about what's owing though
  • Gee Frizz
  • On a similar topic to this I have a major dilemma. I am about to call a major agency re an unpaybackable (...) debt which I can't really do much else about because I am undertaking study at present, and due to my vision impairment I havne't worked enough to repay it. I am about to call them now but I'm wonderin how to handle the call/situation ad how I'm going to get myself out of this problem so that I can get on with my life "") ?
  • buffed
  • here's a suggestion.....try and reduce your debt before getting into more debt.
  • nrjize
  • Quote:

    Originally Posted by buffed

    here's a suggestion.....try and reduce your debt before getting into more debt.

    captain obvious to the rescue!
  • dugg
  • What bank she with? Commonwealth gave me a personal loan even though i have a bad credit history
  • Bracko
  • Quote:

    Originally Posted by Galactic Soap

    Be careful with your credit file ladies and gents, I purchased my credit report a good four years ago, and pay Baycorp a one off $30 fee to keep me up to date with any inquiries that are placed against my name.

    hmmm interesting.... how does one go about this i don't like big brother acting without my knowledge
  • Gee Frizz
  • Quote:

    Originally Posted by buffed

    here's a suggestion.....try and reduce your debt before getting into more debt.

    Er, that's not the problem. I don't want any more credit. I need to know what action to take as my case is abot to hit the courts (a bit of important info which I apparently forgot to include.)
  • SarahF
  • Quote:

    Originally Posted by Gee Frizz

    On a similar topic to this I have a major dilemma. I am about to call a major agency re an unpaybackable (...) debt which I can't really do much else about because I am undertaking study at present, and due to my vision impairment I havne't worked enough to repay it. I am about to call them now but I'm wonderin how to handle the call/situation ad how I'm going to get myself out of this problem so that I can get on with my life "") ?

    Figure out what you can afford to pay them back...e.g. even if it is like $50 a month. Whatever you can afford, offer to do it and pay them back in small installments.

    Contact them and take the bull by the horns, show you aren't running from the debt.

    I don't think they can take you to court if you are trying to come to an agreement. If you are showing that you are giving what you can afford it may give you more lee way and show you are trying to co operate as opposed to just not paying.

    A friend of mine did this and it worked out in the end.
  • durham
  • wooo my dad works for baycorp.
    yeah contact them for the history thingo. (Y)
  • missjen
  • Quote:

    Originally Posted by Gee Frizz

    I'm in a whole world of trouble with my credit.

    It bothers me not though because I don't intend on borrowing any money any time soon and it'll be years before I'd want to own a home.

    I have to do something about what's owing though

    Cut up any credit cards you have and then start paying back whatever you can on the loans. Don't take out another loan/credit card etc until it is all paid off.

    The last thing you want is a bad credit rating, especially later on when you want to buy a house!!!
  • Gee Frizz
  • I gave the credit management a ring today and it's ay-ok. Life's gonna be a biach for a while and my credit rating is already shot to pieces but that's alright as I have no intention on borrowing money or going into any kind of mobile / renting agreements any time soon.
  • Salvia D
  • im in the same position. cant doing anything with your life for 5 years. They dont care if you used to be a uni student with no income, and are now in fulltime employment.

    The credit rating system is messed up, it only reports bad things you do and doesnt mention anything good you do (e.g. get a better job, pay of loans quickly etc).

    The only people i could find to loan me ANY money were GE money. Sure its a 30% interest, but its better than nothing.
  • Kinki Jedi
  • Quote:

    Originally Posted by Salvia D

    im in the same position. cant doing anything with your life for 5 years. They dont care if you used to be a uni student with no income, and are now in fulltime employment.

    The credit rating system is messed up, it only reports bad things you do and doesnt mention anything good you do (e.g. get a better job, pay of loans quickly etc).

    The only people i could find to loan me ANY money were GE money. Sure its a 30% interest, but its better than nothing.

    Umm.....you miss the point. We don't give a shit about the 'good things' you're doing, only your Mum cares about that.
    You screw up, you pay for it. Simple.
  • lilsarah
  • it won't be a black mark.

    just an enquiry.





    i'm 90% sure
  • missjen
  • Even if you're a uni student surely you shouldn't be living beyond your means? You live on what you can afford, not on credit.

    To me a credit card = emergency use only, not free money.
  • SarahF
  • Quote:

    Originally Posted by missjen

    To me a credit card = emergency use only, not free money.

    Totally agree!

    We're an impatient bunch and it's easy to say i want it now and can pay it off later, but then the snowball effect usually occurs or your situation changes and you can't pay it off. I've seen it happen a number of times which is why i've never had a credit card (and thankfully not needed one for an emerency).
  • rquinsee
  • makes sense, wish i saw that B4 i went spending crazy.
  • missjen
  • Another good way to stay out of trouble (especially when you're o/s) is to put money on your credit card - so you're spending your own cash Makes you think twice then
  • navskore
  • Or a debit card if you don't actually need to use more money that you have at that time.
  • freedom74
  • Well a strategy not guaranteed absolutely to work but gives you good odds is this.

    I owe on a credit card from 3 or so years back nearly 20 grand. After five years from your last payment/certain things off that account, the debt becomes statute barred and even if not paid off fully, the rights of the creditor to sue you are extinguished.

    However I've had to move to a secret location and lie very low. It means that I avoid communication with strangers at my door and am intensively secretive about my location, handling of mail etc. If you can avoid the process server and don't want to try for any more credit, you have a chance of getting away with it.......well I'd beg to differ its not getting away with it. For my infringement which is not even against a real person, I am sentenced to a 5 or 7 year listing.

    Maybe if I had real good job or real good prospects of one, I'd have more to gain by fixing things up. Then I'd be able to get a decent car or service a mortgage on a decent place. But my last experiences of work, years ago, involved begging for the jobs no-one wanted, work far below my skill or capacity, because of my lifestyle I was effectively shut out of a chance in my earlier youth to establish a career of skilled and reasonably remunerated employment. But this way its easier to do nothing and go into hiding. It takes care though, as these grubby skip tracers and process servers are like a dog with a bone they just don't let go.
  • Kinki Jedi
  • Quote:

    Originally Posted by freedom74

    Well a strategy not guaranteed absolutely to work but gives you good odds is this.

    I owe on a credit card from 3 or so years back nearly 20 grand. After five years from your last payment/certain things off that account, the debt becomes statute barred and even if not paid off fully, the rights of the creditor to sue you are extinguished.

    However I've had to move to a secret location and lie very low. It means that I avoid communication with strangers at my door and am intensively secretive about my location, handling of mail etc. If you can avoid the process server and don't want to try for any more credit, you have a chance of getting away with it.......well I'd beg to differ its not getting away with it. For my infringement which is not even against a real person, I am sentenced to a 5 or 7 year listing.

    Maybe if I had real good job or real good prospects of one, I'd have more to gain by fixing things up. Then I'd be able to get a decent car or service a mortgage on a decent place. But my last experiences of work, years ago, involved begging for the jobs no-one wanted, work far below my skill or capacity, because of my lifestyle I was effectively shut out of a chance in my earlier youth to establish a career of skilled and reasonably remunerated employment. But this way its easier to do nothing and go into hiding. It takes care though, as these grubby skip tracers and process servers are like a dog with a bone they just don't let go.

    Yeah, sounds like a great decision. You're an inspiration.
  • GeneralClank
  • Quote:

    Originally Posted by freedom74

    Well a strategy not guaranteed absolutely to work but gives you good odds is this.

    I owe on a credit card from 3 or so years back nearly 20 grand. After five years from your last payment/certain things off that account, the debt becomes statute barred and even if not paid off fully, the rights of the creditor to sue you are extinguished.

    However I've had to move to a secret location and lie very low. It means that I avoid communication with strangers at my door and am intensively secretive about my location, handling of mail etc. If you can avoid the process server and don't want to try for any more credit, you have a chance of getting away with it.......well I'd beg to differ its not getting away with it. For my infringement which is not even against a real person, I am sentenced to a 5 or 7 year listing.

    Maybe if I had real good job or real good prospects of one, I'd have more to gain by fixing things up. Then I'd be able to get a decent car or service a mortgage on a decent place. But my last experiences of work, years ago, involved begging for the jobs no-one wanted, work far below my skill or capacity, because of my lifestyle I was effectively shut out of a chance in my earlier youth to establish a career of skilled and reasonably remunerated employment. But this way its easier to do nothing and go into hiding. It takes care though, as these grubby skip tracers and process servers are like a dog with a bone they just don't let go.

    http://www.cclcnsw.org.au/DFT_Projec...old_debts.html

    I think it's actually six years under the Act, and if you've had a court judgement made against you, it's 12 years from the date of the judgement. For a 20 grand debt, its quite likely the creditor has attempted to liquidate you. Of course, this all depends upon which state the debt was incurred in....
  • themuffler
  • Quote:

    Originally Posted by Kinki Jedi

    Yeah, sounds like a great decision. You're an inspiration.

  • dbb618
  • and you wonder why you got banned?
  • atrev2much
  • Quote:

    Originally Posted by missjen

    To me a credit card = emergency use only, not free money.

    No wai!
  • big eddie
  • Quote:

    Originally Posted by freedom74

    Well a strategy not guaranteed absolutely to work but gives you good odds is this.

    I owe on a credit card from 3 or so years back nearly 20 grand. After five years from your last payment/certain things off that account, the debt becomes statute barred and even if not paid off fully, the rights of the creditor to sue you are extinguished.

    However I've had to move to a secret location and lie very low. It means that I avoid communication with strangers at my door and am intensively secretive about my location, handling of mail etc. If you can avoid the process server and don't want to try for any more credit, you have a chance of getting away with it.......well I'd beg to differ its not getting away with it. For my infringement which is not even against a real person, I am sentenced to a 5 or 7 year listing.

    Maybe if I had real good job or real good prospects of one, I'd have more to gain by fixing things up. Then I'd be able to get a decent car or service a mortgage on a decent place. But my last experiences of work, years ago, involved begging for the jobs no-one wanted, work far below my skill or capacity, because of my lifestyle I was effectively shut out of a chance in my earlier youth to establish a career of skilled and reasonably remunerated employment. But this way its easier to do nothing and go into hiding. It takes care though, as these grubby skip tracers and process servers are like a dog with a bone they just don't let go.

    roflcopters... what a gem that has been found in a random bump.
  • Suerno
  • Ironic really how the banks are so cautious lending a few grand to young Australians yet they seem to have no problem buying up billions of dollars of dodgy debts from Americans on the advice of their "expert" financial staff who are getting paid hyper inflated salaries. Oh wait then they lose billions on that play and pass the charges back onto the backs of the young Australians they deem unworthy. Seems almost relevant to start asking whether you can trust the banks with your money these days
    Last edited by Suerno : 26-Jul-08 at 10:59pm.
  • THEHEATH
  • Quote:

    Originally Posted by big eddie

    roflcopters... what a gem that has been found in a random bump.

    I reckon. Fucken gold "For this I am sentenced to a 5 year listing...." wtf
  • therooster
  • Quote:

    Originally Posted by freedom74

    It takes care though, as these grubby skip tracers and process servers are like a dog with a bone they just don't let go.

    thats because you owe them over 20 thousand dollars; dickhead.

    i'd come after you too, with a shotgun
  • esoteric31
  • ^

    thank you bumpage.
  • kasper_flip
  • Quote:

    Originally Posted by freedom74

    But this way its easier to do nothing and go into hiding. It takes care though, as these grubby skip tracers and process servers are like a dog with a bone they just don't let go.

    yeah what the hell is wrong with these guys, surely they could give you a break. i mean its not your fault you racked up 20k of debt, it must be society's inability to accept you for who you are which drove you to such monetary frivolity..
  • Impulsory
  • Freedom74,

    It makes no difference whether you decide to lop yourself off/put one on, you still make yourself sound like a pretentious dickhead.
  • Little El
  • i'm pretty sure that black mark stays with you for a while, 5 years sounds correct

    you can't really do anything about it either as far as i know, like sending letters and all that jazz... i don't think it's that easy...

    i've heard of people having that black marked removed, by people who have access to the black mark info...

    i'm not sure how they remove the black mark though?

    i don't know anything...
  • Punk in Drublic
  • f74
  • Amytron
  • Quote:

    Originally Posted by Galactic Soap

    No thats not correct, if you've been listed with baycorp then your listed. The listing gets updated to either paid or unpaid, or if a summons has been issued then a legal listings placed against your name, but alas once its there, its there for 5 years.

    Listing - Paid
    Duration of listing on your credit file - 5 years
    The debt was listed against your name due to not complying with the credit contract.


    Listing - Unpaid
    Duration of listing on your credit file - 5 years
    Possibility of legal action being undertaken
    The debt has been listed against your name, thus far the debt hasn't been paid.

    Legal Action (Summons issued) - Paid/Unpaid
    Duration of listing on your credit file - 7 years
    The debt has been listed against your name and a summons allowing further legal action to be issued.

    Bankruptcy/Insolvency
    Duration of listing on your credit file - 10 years

    deepbeetzz - If it is for a phone bill then don't stress too much, having worked in finance for the last 6 years I know all major lenders make an allowance specifically for phone bill related listings.

    If the debts been paid, and hasn't been updated as paid make sure you get the company involved to update the paid date as per the date the payment hit their system.

    IF the debt hasn't been paid, pay it, and be honest in your next credit application for a personal loan, you should be right.

    Be careful with your credit file ladies and gents, I purchased my credit report a good four years ago, and pay Baycorp a one off $30 fee to keep me up to date with any inquiries that are placed against my name.


    This is what happened to me, ran up a bit of a phone bill over the uni holidays with Telstra, and was struggling to keep up payments. I was paying them still but not enough to cover the minimum amount. So they took it to baycorp, as soon as I got the letter, my mum helped me pay it out, because we thought I wouldn't get a mark if it was paid out. But alas, we were wrong, and I've spent the past 4 and half years without being able to obtain credit (except once when my mum had to be guarantor, which was so stupid as I was actually earning more then her in my full time job). Its been good learning to leave with only small amount a credit here and there. Can't wait till my name is off the record in April next year.
  • freedom74
  • This 5 year or whatever thing should be reduced to 3 years. Its utterly punitive and way over the top to leave something over a person's head that long, look at all those whose companies go into administration they don't seem to be so affected personally. There's also an electronic baycorp tag known as a 'monitor' where a person if they've relocated, communicates with the credit reporting agency or has a new enquiry/application, the new details are forwarded in real time to anybody who's listed something against them. If you've relocated you just have to do nothing in order to keep your new location secret from any creditor you've fled due to hardship. We need to reduce the strength of business over the natural person. Its high bloody time that business was finally not able to dictate the policy and legal agenda. The current system sounds more like it was designed to keep industry from making too much fuss than on providing avenues for individual privacy rights as against these big multi-billion dollar corporations here these are not small businesses you know.
  • Freshie
  • Get the fuck off your high horse. You stole $20k.
  • themuffler
  • yeah. shut the fuck up freedom74. you're a gutless wonder who can't take any responsibility for your own actions; to the point of suing your own parents.

    you clearly lack morals and post here seeking validation for idealogies that are clearly wrong and that noone agrees with. stop dribbling your shit because you are quite clearly a disgrace; and a thief.
  • divid3d
  • Quote:

    Originally Posted by Freshie

    Get the fuck off your high horse. You stole $20k.

    Quote:

    Originally Posted by themuffler

    you're a gutless wonder who can't take any responsibility for your own actions

    that nicely sums up what i wanted to say.

    if i had racked up close to $20k in credit card debt which i wasn't paying off, i'd be thankful that i hadn't been carted off to prison - and not at all surprised that i'd have a black mark against my name because obviously i wouldn't be the sort of person anyone should be lending money to.

    i'd tell you to use your brain, f74, but i don't believe you've got one.
  • Beds
  • I hope f74 has left a digital fingerprint by posting that utter shit as above. Fukin dropkick
  • big eddie
  • Quote:

    Originally Posted by themuffler

    yeah. shut the fuck up freedom74. you're a gutless wonder who can't take any responsibility for your own actions; to the point of suing your own parents.

    you clearly lack morals and post here seeking validation for idealogies that are clearly wrong and that noone agrees with. stop dribbling your shit because you are quite clearly a disgrace; and a thief.

    f74 gets schooled by themuffler
  • themuffler
  • ...i may have made the odd stupid post in my day but i have morals; and every post ive made that hasnt obviously been a troll or just me having a bit of fun has been a genuine question trying to ask others for advice on how to improve myself and make myself a better person, taking responsibility for where im at at the same time


    but yes. pwned. people that cant take responsibility for their actions and sit aruond feeling sorry for themselves blaming everyone else for their predicaments are the worst kind. especially a 34 year old in hiding.


    the one thing i dont understand though is how f74s supposedly hiding out from the legal system because of his unjust sentence; yet takes his own parents to court; presumingly giving them an indication of his wherabouts
    Last edited by themuffler : 04-Aug-08 at 01:24am.
Page 1 of 2

Forum Jump