What is a credit repairer?

Credit repair companies claim they can fix your credit report or clear your credit history. Be careful of ‘credit repair' style organisations. Some companies claim to be able to remove negative information from your credit report and charge you to do so. This can often cost over $1,000 and it is likely you are required to pay up front.

Should I use a credit repair company?

Be wary of 'credit repair' style organisations and think twice before paying for the services of a company that claims they can “repair” your credit report or credit history.

Free services available to help

By contacting your credit provider or a credit reporting body they can investigate the disputed credit information for free and correct information on your credit report if it is inaccurate. If you are still unsure on what to do, you can also ask a financial counsellor or community legal service for advice. Financial Counselling Australia can help you find a financial counsellor, as well as organisations such as Good Shepherd.

Free financial counselling is available from the National Debt Helpline by calling 1800 007 007.

In addition, if you are dissatisfied with the outcome of an investigation by the credit provider or credit reporting body you can utilise the services of the Australian Financial Complaints Authority (AFCA) to which the credit provider or credit reporting body is a member. They provide their services free to consumers.

For more information on the Equifax complaints process please visit our Complaints section in our help centre.

Need more information?

ASIC MoneySmart also provides information on credit repair and financial counselling.

CreditSmart warns consumers to beware of credit repair companies and also provides information on legal advice.