Graham L Doessel’s Post

The Credit Repair Industry in Australia has grown significantly over a short period of only a couple of years. Credit repair has grown from the need for potentially millions of credit file holders with black marks on their credit report, to find some way to buy a home, a car, get a credit card and even a mobile phone plan. Banks look for any reason not to lend money to people who may default on a potential loan – which includes any suspect credit history. Because of tight lending criteria, the need for greater accuracy in credit reporting has arisen. As of the 1st July 2021, ASIC introduced a new law where providers of debt management services must hold an Australian credit licence with an authorisation that covers debt management services. With many instances of credit reporting ‘inconsistencies’, coupled with very little consumer knowledge on credit reporting law and a great need for a third-party advocate when dealing with creditors, the credit repair industry has been driven forward. Which is why way back in 2013, MyCRA Lawyers (an Incorporated Legal Practice) already had a level of regulation and accountability far exceeding what ASIC require of the credit repair industry today... This is at last, forcing the credit repair agencies to up-their-game and do more for consumers and provide better support within the current regulations as an absolute minimum. If you want the best, choose your MyCRA Lawyers Team every time, just like thousands of Brokers and clients have done for over a decade... Call MyCRA Lawyers on 1300 667 218 today for a confidential no-cost initial chat. #mycralawyers #creditdefault #creditrepair