Here’s help to correct your credit file
What is the Resolution Centre?
Our Resolution Centre provides fast and friendly help if you are concerned about information on your Credit Report or have a dispute regarding inaccurate information. We can guide you through each step necessary to resolve any disputes about information held in your report, to help ensure it is swiftly resolved.
What should I do if there is a mistake on my credit report?
If you have a copy of your credit report and you think there is something wrong, it is important you get this fixed. Why? The information on your credit report impacts your credit rating (Equifax Score) and whether or not you might be accepted for a loan, credit card or a credit account such as a mobile phone or electricity contract.
There are simple steps you can take:
1. Contact the credit provider
You can firstly contact the credit provider, such as the bank, telco or utility company, that the error relates to and ask that it be investigated and your credit report amended. Equifax has a list of most credit provider contacts at MyCreditFile.com.au.
Equifax offers a free service investigating the accuracy of information on your credit report that is in dispute or you think needs fixing.
Here’s how it works:
- Submit your request
Make a consumer correction - to request a change to the consumer or public record sections of your credit report.
Make a commercial correction - for a request regarding commercial/company matters.
Note: Requests for changes to the consumer section of a credit report will not be completed by using the commercial correction form.
The more information you can provide the quicker we can investigate. If you are requesting on behalf of someone else, please also include the requester (you) details.
By submitting your correction request you understand that the information that you supply to us during the creation of this correction request, including your personal information, may also be disclosed to other interested parties in order to resolve your request for correction. This includes disclosure to the credit provider who has recorded an entry for which you are disputing the accuracy. This disclosure is in accordance with Section 20T(4) and 23B(3) of the Privacy Act 1988.
- Equifax investigates
Once we receive your request Equifax will review. You will receive written confirmation that your request has been received. Our Customer Resolutions team has a minimum of 30 days to investigate your request and provide a response to you. If all relevant information is provided it could be as simple as us making the necessary amendment e.g. updating a default to ‘paid’ or deleting a judgement.
Due to the high volume of requests our Customer Resolutions team deals with, they are unable to discuss the progress of your correction request with you over the phone. If we require more than 30 days’ to complete our investigation we will write to you setting out how much additional time will be needed to complete the investigation.
- Equifax contacts the credit provider
If necessary we will contact the credit provider on your behalf to have them verify the accuracy, or otherwise, of the correction request
- Equifax reviews the credit providers response
Equifax will then review the information given by the credit provider and make any amendments, if any, to the entry(ies) to your credit report.
- Equifax finalises the investigation
We will send you a conclusion to the case. If a correction is required Equifax will send you a letter notifying you that the correction has been made. Equifax will also issue you with an updated copy of your Credit Report.
If a correction is made to your report, Equifax will notify any recipients of your report within the three months prior to the correction being made, in accordance with its obligations under the CR Code. Equifax will do this automatically at the time the correction is made.
If a correction is not made, Equifax will write to you setting out in detail the outcome of its investigation and why the requested correction(s) has not been made. In the case of consumer credit information we will also send you a What You Need to Know brochure which sets out your rights under the Privacy Act 1988 if you are unhappy with the outcome of Equifax’s investigation.
Be careful of ‘credit repair’ style organisations
Think twice before paying for the services of a company that claims they can “repair” your credit report or credit history. 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.
Free services available to help
By contacting your credit provider or a credit reporting body they can investigate 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. In addition, if you are dissatisfied with the outcome of an investigation by the credit reporting body (CRB) or credit provider (CP) you can utilise the services of the Ombudsman to which the CP or CRB is a member. They provide their services free to consumers. Credit and Investments Ombudsman (CIO), The Financial Ombudsman Service (FOS) and Telecommunications Ombudsman Service (TIO) all operate Australia-wide. Each Australian State also has a Water and Energy Industry Ombudsman (e.g. EWON in NSW, and EWOV in VIC).