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  1. #1
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    Default Can anyone please tell me how long a company has to list a default on my credit file?

    In relation to my other thread I'm a bit suprised to find that there a few debts not listed there. I'm even more worried now than I was before because I'm very confused???? Can you help please? Thankyou

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    I think 7 years?????


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  3. #3
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    Quote Originally Posted by Waitingfordaisy View Post
    I think 7 years?????


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    Is that how long it can be recorded on the credit file for or how long they have to actually lodge it with VEDA to record it on a credit file? Thankyou

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    As far as I know they have 7 years to record a default against you and it remains on your file for 5 years but can remain in their records indefinately.

  5. #5
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    Quote Originally Posted by lulu 2 View Post
    As far as I know they have 7 years to record a default against you and it remains on your file for 5 years but can remain in their records indefinately.
    ^^^ this 😃


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  6. #6
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    Thanks guys for your help. Lovely now it really is worse than I tought it could be. That means it could be up to 10 years before we can buy a home

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    I think it's 5 years if u pay it 7 if u dont

  8. #8
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    Just because there is defaults on your files doesnt neccisarily mean that you cannot get a loan ,of course depending on what the defaults are , but stuff like power or gas bills etc are considered on how long ago and for how much and why it happened. You can apply to have the default taken off your file if the debt is paid , some companys will do this but not all. I have found loan brokers are helpful if you have a bad credit rating also.
    If your debts are considerable like over $10 I think you can get help from a financial councelling service too.

  9. #9
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    Thankyou for all of your replies I am just bumping this up

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    I seriously consider getting in touch with My Budget & seeing if they can help you.


 

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