Ok, i went for a home loan but they are not to sure on apporving me because a default has shown up on my credit history, well whats done is done and i want to pay it but will this help me get approved?
Also a friend said that he remembers a couple of years ago on ACA or TodayTonight that were was somthing on there about you pay a certen amount and your credit history gets cleaned up but he doesnt remember where to go or what to do, does anyone know about this because im willing to pay what ever the amount is
i just want a house!A guy on his horse rides into town on friday, three days later he leaves on friday, how can that be?
Hi MrVip,
Regarding paying the default and getting approval for the loan, this will be subject to your credit provider’s policy concerning defaults.
At the moment it is classed as an unpaid default, and defaults either paid or unpaid will hinder your scope of available lenders.Unfortunately you cannot pay a fee to clear your credit rating of defaults. Cheers.
Regards
Steven
Mortgage BrokerMobile Mortgage Market
Ph: 0402 483 216
[email protected]
http://www.mobilemortgagemarket.com.auPLEASE note comments made should not be taken as specific taxation, financial, legal or investment advice.
MrVIP
There are lenders who will look at you once the default is paid-higher interest rates and tougher conditions but it is still possible to get a loan. I would suggest you clear the debt because it will not get any better by leaving it longer.
PS the horse’s name is friday cheers
markk
Happy Hunting
http://www.kentscollections.comYou probably should have been notified about the default at the time. If not, then the lister may have not followed the correct legal proceedure and you could get it removed. You could go to a solicitor and ask them to draft a letter to the lister threatening to sue if it is not removed. But this may end up costing you more than the default amount.
Terryw
Discover Home Loans
Mortgage Broker
North Sydney
[email protected]Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Ok, I just checked my credit history right and they have spelt my name wrong, not just my first name but also my second name as well, does this help me to sue them at all?
A guy on his horse rides into town on friday, three days later he leaves on friday, how can that be?
MrVIP,
Are you sure this is your default? Have you enquired with the organisation that placed the default? Did you receive any documentation from them when they were asking for payment?
A different spelling would normally mean Baycorp would set up a separate file associated with that person (?) and the associated spelling because on the surface they could not determine if that was the same or different people.
Of course if they have been provided evidence ie drivers license number that matches yours then this new record would be updated on your file.
no i never got documents at all, they rang up one day asking for me i suppose but they spelt my name wrong and i said that wasnt me, so they tool the default notice of my credit history and that was the end of it, then this happend again and again they took me off the credit hidtory but now it has shown up again.
Another sotry: My load was apporved back in Feb right but then they had to cansel that one and re-do the application because they put the wrong amount in but it was only like $2grand or somthing, they checked my history 2 times and it was fine but then they checked it again this week for some reason and it showed up with the default again so now there saying they need it removed before they go on. Why would they check it again if they checked it twice already and it was fine? cant they go off the ones in feb or go by demerrits?
A guy on his horse rides into town on friday, three days later he leaves on friday, how can that be?
Mr VIP – how much is the default for and what company is it from? If it’s not that big and you are happy to pay it, it might not be a problem.
Otherwise a place called DR Capital Credit Repair specialize in removing contestable credit defaults. The fee to remove one default is $1,595 but it should be contestable.
Liz
Mortgage Lender
1300 780 826about $2000 and its with baycorp
A guy on his horse rides into town on friday, three days later he leaves on friday, how can that be?
any ideas?
A guy on his horse rides into town on friday, three days later he leaves on friday, how can that be?
$2000 is rather large. And may psoe a problem if you need mortgage insurance. You could be able to get it through with FirstMac at around 95% LVR.
Terryw
Discover Home Loans
Mortgage Broker
North Sydney
[email protected]Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Firstmac eh? me and my g/f have a very healthy saveings plan and thats what the bank loved about us so i might give firstmac a call.
A guy on his horse rides into town on friday, three days later he leaves on friday, how can that be?
Hey People
Hi GuysDamians girlfriend here Nici. Just like to inform you all that we had payed out the outstanding debt which has enabled us to keep going forward with the loan. I had spoken to the loan lender and she said that everything is fine and she will process the papers.We had written a stat deck saying that its not out debt etc etc and we will be investiagting it further once everything has settled down getting re in-burst. But for now we couldnt let this drag out anymore so we just payed it to get things rolling again…….which thankfully it has.We had soon after recieved a letter from our lender and they had FINALLY confirmed that we had been approved. Just thought ill keep you guys updated and let you know everything is fine
Caio [suave3]
A guy on his horse rides into town on friday, three days later he leaves on friday, how can that be?
If it was not your debt, then why did you pay it?
kay henry
I cleary stated y [cowboy2] they said once we investigate and it turns out that they sort out the problem anf ind out it wasnt us they will give us our money back.It would have taken them a couple of months to investigate this situation and they claimed that its not 100% that they will solve the issue. We couldnt wait around 2mths other wise everything would have been cancelled. So we thought we will pay it off and get things rolling and then resolve it once we pass the line. I didnt want this mistake to kill our chances on getting our dream. So its not like we have lost all chances in getting reinburst for the debt. [hair2]All that matters is our dream is continueing……..thats a good thing [biggrin]
Nici
A guy on his horse rides into town on friday, three days later he leaves on friday, how can that be?If you have settled all defaults you can make the bad taste go away for around 1k to 3k depending on the the time and size of the default.
We are all made from Stars.
It is a common misconception that someone can pay to have defaults removed from their credit history. This is certainly not the case.
The ONLY times that a default can be removed is if the company who listed it notifies Baycorp Advantage that it was listed in error OR the person to who the credit history relates can demonstrate it was an error. Many companies and / or solicitors charge exhorbitant fees for this service when a person can contact Baycorp Advantage themselves and get it sorted out for nothing. Baycorp is a very helpful organisation. The companies and solicitors charging fees for this often fail and do not refund money paid.
The solution is to always pay your debts and keep adequate records to cover error situations.
Robert Bou-Hamdan
Mortgage AdviserFurther to Rob’s comments, the yearly subscription to credit alert through Baycorp is invaluable as they e-mail whenever any organisation places an enquiry on your file. They also send you a copy of your credit file at the start and end of the one year subscription. Costs $40.
For investors, protecting their credit history is vital. This is a good way of guarding it (aside from paying all debts when they become due of course!)
Woodsman
Great cash flow opportunities. PM me for more informationAs long as everything is going through and were getting this house it doesnt worry me too much that we had to pay it out, i mean dont get me wrong ild love that money to be in my back pocket but if thats the reason it was stopping us from getting this house or anything in the future i would rather pay it out and get things rolling.[thumbsup2]
A guy on his horse rides into town on friday, three days later he leaves on friday, how can that be?
As long as everything is going through and were getting this house it doesnt worry me too much that we had to pay it out, i mean dont get me wrong ild love that money to be in my back pocket but if thats the reason it was stopping us from getting this house or anything in the future i would rather pay it out and get things rolling [thumbsup2][tongue]
Nici [king]
A guy on his horse rides into town on friday, three days later he leaves on friday, how can that be?
i just want a house!
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