Bad Credit Debt

repair bad credit

Over 1.5 million Australians have notched up black marks on their credit records because of overdue bills and debt.

In particular, hundreds of thousands of Victorians are among those risking finance knock backs for taking too long to pay utility bills or missing loan and credit card repayments. The revelation comes as financial counsellors expect to be swamped with households struggling to pay higher water and power bills this year.

Marks for Bad Credit Debt

Figures released to the Herald Sun reveal about 350,000 Victorians are red-flagged for not paying utility bills, skipping loan repayments or having been made bankrupt.

Marks usually stay on file for five years and can make getting new credit almost impossible. To avoid receiving marks on your credit records, you need to deal with your debt problems sooner rather than later. However in saying this, we at the Australian Lending Centre understand that this is ‘easier said than done’.

Many of our clients have experienced debt problems and overdue bills for uncontrollable reasons such as job loss.

A bad credit history will never be repaired if you have black marks and outstanding defaults on your credit file. If you are struggling to pay off your debt, you should consider talking to the Australian Lending Centre on 1300 138 188.

If you are unsure of what needs to be done to repair your bad credit rating, we can chat to you about how to go about fixing this and let you know about your options for obtaining a bad credit loan.

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