1300 471 328 Apply

s WARNING: Do you really need a loan today?*

It can be expensive to borrow small amounts of money and borrowing may not solve your money problems.


Check your options before you borrow:

  • For information about other options for managing bills and debts, call 1800 007 007 from anywhere in Australia to talk to a free and independent financial counsellor.
  • Talk to your electricity, gas, phone or water provider to see if you can work out a payment plan.
  • If you are on government benefits, ask if you can receive an advance from Centrelink: www.humanservices.gov.au/advancepayments

The Australian Government’s MoneySmart website shows you how small amount loans work and suggests other options that may help you.

*This statement is an Australian Government requirement under the National Consumer Credit Protection Act 2009

How long do defaults stay on my credit file?

Are you having issues gaining credit? Wondering about some past defaults and how they could be affecting your credit file? Here are the facts.

How long something stay’s on your credit file all depends on what it is and how severe the issue was.

What is a serious credit infringement?

A serious credit infringement is when a consumer has an overdue debt to a credit provider but has left or appears to have left their last known address, without paying the debt or informing the credit provider with a forwarding address.

How long do defaults stay on my credit file?

A serious credit infringement can remain on your credit file for a varying amount of time depending on what the infringement was:

2 years Repayment history information
5 years Any credit enquiry
Overdue accounts listed as payment defaults
Overdue accounts listed as clearouts
Writs and Summons
Court judgments
7 years Overdue accounts listed as a serious credit infringement (However if they have been paid they revert back to default and only remain for 5 years)

Overdue debt is not removed from your credit file just because you have paid your debt. They still remain on your report for five years, but will be marked as paid.

Can I get these infringements off my credit history?

Getting infringements off your credit file before the usual timeframe is difficult, although not impossible.

You will need to have proof that the default or infringement was listed in error or that the creditor did not make reasonable efforts to contact you.

If this is the case they may be forced to remove the credit default.

If you are unsure as to whether you want to challenge the creditor on your own you can enlist the help of a credit repair agency.

However be aware that there will be a charge involved and you should ask for a written quote of costs before you begin.

This may be worth the expense to you however if it improves the deal and possibility of you getting the mortgage and interest rate you are applying for.

How long do credit enquiries stay on my credit report?

Credit enquires can stay on your credit file for 2 years, so if you are going to apply for a loan ensure you put your best foot forward and your application is an excellent representation of your financial persona.

If one institution knocks you back the next bank you apply through will be asking why you were knocked back and you may not get the best deal.

What is the difference between my credit file and credit score?

Your credit score is a numerical value calculated from information in your credit file that is used by lenders to assess your credit risk.

Where-as your credit file is a summary of your financial reliability or history of paying your debts and bills.

Where can I find my credit report?

You can get your credit report for free from any of the three reporting agency’s below as long as you don’t require it in a hurry.

If you want it instantly or within a day you will be required to pay for the convenience.

You may have credit file history with one or all of the below companies depending on who the owner of the debt reported the infringement to.

There are many company’s who will help you clean up your credit file but it is recommended that you get a written quote first and read the fine print on what their services do and don’t include.

Read how do I know if I have bad credit?

In conclusion, the best way to improve defaults on your credit file would be to ensure you pay your bills on time, try not to switch lenders too often, always notify lenders of a change of address, research when looking for a new loan and only apply for credit when you need it.

credit file

credit file