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.Where to start
If you plan to apply for credit in the near future - for example, if you’re looking to buy a house - it’s a good idea to check your credit file.
When you apply for credit the lender usually checks your credit report. It includes:
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Personal details such as your name, address, employment, date of birth and driver’s licence number
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Credit applications you’ve made
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Overdue payments (defaults) and serious credit infringements (such as clearouts)
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Bankruptcy information
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Court judgements
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Public record information such as directorships
Existing defaults might not be deleted – even if you pay the debt, they’ll only be marked as paid and a lender may still deny your loan application.
However, this information doesn’t stay on your report indefinitely: credit applications and defaults are deleted after five years; serious credit infringements and bankruptcies are removed after seven years.
Check your credit report
Order a copy of your credit report about once a year, check it and ask the credit reference agency to correct any mistakes.
Credit reference agencies should provide you with a free credit report in a reasonable time (10 working days); most also offer an express service for a fee. Veda also offers a credit monitoring service for a fee that notifies you whenever a credit provider accesses your report.
Include your full name, date of birth, driver's licence number, current/previous addresses, phone number, your current/previous employers and the credit provider you most recently applied to and contact:
Veda Advantage
PO Box 964, North Sydney NSW 2059
Fax: (02) 9951 7880
Phone: 1300 762 207
Website: www.mycreditfile.com.au
Dun and Bradstreet
Attention: Public Access Centre PO Box 7405, St Kilda Road VIC 3004
Phone: 13 23 33
Website: www.dnb.com.au
If you live in Tasmania you should also send a request to The Manager, Tasmanian Collection Service, GPO Box 814H, Hobart TAS 7001. Or pick up your file from one of its branch offices. Phone: (03) 6213 5599 Website: www.tascol.com.au.