Debt relief and your credit rating

Debt relief and your credit rating

If you wish to get personal credit in the future, including a home loan or a personal loan, then you should always try to keep your credit history clean and free of blemishes. Defaults on your credit rating usually comes from not paying bills on time which can then make it difficult to get personal credit in the future.

So if you have defaults listed on your credit file because you haven’t paid your bills on time and you are struggling with the burden of debt then you may need to consider a formal debt relief solution sooner rather than later.

We say that because any formal debt relief solution will have an impact on your credit file, but if you successfully complete it, then after 7 years your file will be completed restored and cleared of all defaults.

7 years sounds like a long period of time but the idea is to start the 7 year “clock ticking now” rather than struggling with the burden of debt for many years to come and delaying the inevitable.

Eligibility for debt relief solutions

A formal debt relief solution isn’t appropriate for everybody. The Australian government has introduced strict eligibility criteria. The first and most strict criteria is that you must be insolvent . Here at Get Debt Free we have a unique computer based debt assessment module which allows us to assess your finances in an unbiased manner. Click here to learn more about our debt assessment process.

After we have determined if you are insolvent we will then help you prepare a suitable budget which will allow us to establish how long it will take you to repay your debt. This is an involved process and can take several weeks to complete it thoroughly and can only be undertaken once we have all of the necessary information from you.

Call us today to start process on 1800 98 10 70.

Our debt relief solutions

Here at Get Debt Free we are fully licenced and insured to provide all debt relief solutions. Our solutions include:

As we are fully licenced and insured to provide all debt relief solutions we are not biased towards any particular solution.

What to do first

If you need a formal debt relief solution then call us now so we can discuss the process with you. If it is more convenient, you can also apply on-line.

To speak to one of our personal debt advisors, call 1800 98 10 70 now.

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