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Credit Rating?

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#1 CoopyPoopy

Posted 17 December 2012 - 04:49 PM

If you have your car possesed because you can not make the repayments, is it likely that you will have a 'black mark' against your credit rating?

#2 Stellajoy

Posted 17 December 2012 - 04:51 PM


#3 CoopyPoopy

Posted 17 December 2012 - 04:58 PM

Would that be the same if you were the 'gaurantor'.


Posted 17 December 2012 - 05:01 PM

Again Yes

#5 Stellajoy

Posted 17 December 2012 - 05:03 PM

Yes, here is some info https://www.moneysmart.gov.au/borrowing-and...ily-and-friends

#6 CoopyPoopy

Posted 17 December 2012 - 05:05 PM

Thanks for the quick replies original.gif

#7 naturalgoodness

Posted 17 December 2012 - 05:09 PM

A mark against your credit does not always happen. Its up to the creditor to do it. I have known of the following scenarios where NO note was made on the credit file:
- car repossessed and person made arrears payments and got the car back
- car repossessed and car was sold
- car repossessed and car was sold with a shortfall, arrangement made to repay the shortfall

As a guarantor the creditors discretion on making a listing against credit file again applies.

The easiest thing to do is obtain a free credit report from the 2 primary listing sources - Veda & Dun and Bradstreet. It will take up to 10 working days to receive but it will give you the final answer on whether your credit report has been effected or not.

#8 CoopyPoopy

Posted 17 December 2012 - 05:11 PM

Thankyou for that info NaturalGoodness

#9 solongsuckers

Posted 17 December 2012 - 05:28 PM

with the Veda one, you can request a copy for free in writing and that will take up to ten days, or you can request it online for $50 and you will get it the next business day. or for an extra $10 you can sign up for my Veda alert service which gives you a copy of your credit.file plus also will advise you of any activity on your credit file for 12 months.

you get it at www.mycreditfile.com.au

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