Money Resources Credit in South Melbourne, Victoria | Credit counselling service

Money Resources Credit

Locality: South Melbourne, Victoria

Phone: +61 418 536 873

Address: 18 Thomson St 3205 South Melbourne, VIC, Australia

Website: http://www.moneyresources.com.au

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• Financial service
• Loan service
• Credit counselling service

23.01.2022 Do's and Dont's to Get a Good Credit Record 12 March hardly sounds like a key date in history. But, for those looking to buy property, 12 March 2014 could be a key date that determines whether or not they get a loan. Whenever someone applies for a mortgage, one of the first things a bank does is run a credit check on them. As of 12 March, these credit checks are going to change and it could have a huge impact on whether or not a loan application is approved. Under the new... regime, every time someone misses their payment by more than five days, their credit file is given a black mark and their credit rating gets worse. The current system is less comprehensive; simply registering things like the number of credit enquiries someone has made and whether or not they have any defaults. But, in addition to these, under the new system individuals will have an incentive to manage their reputation loan applicants get green lights for positive factors such as how often they have made repayments on time. Here are some of the things that banks will know from the new credit checks. Whether repayments have been made on time over a two-year period If a repayment of over $150 is more than 60 days late, it will be listed as a default The limit on the credit cards for which you have applied The type of card for which you have applied The date you opened a credit account, the type of account, and when it was closed If, because of a default, someone has entered into a new varied arrangement for repayments Dos and Don’t’s to Get a Good Credit Rating Under the New System Do Set up automatic debits to pay your credit card and loans on time Close any credit facilities you don’t need Check your credit file http://www.mycreditfile.com.au/ Don’t Pay a debt more than five days later Shop around for credit cards and store leases when you don’t need them Fail to contact the lender to renegotiate your repayment terms

21.01.2022 It is no surprise to that today the Reserve Bank has left interest rates on hold. The interest rate market has certainly stabilised of late and it appears that so have property prices across the board. With only 21 days till Christmas!!! If any of your clients require any assistance either before Christmas or into the New Year, please let us know, as with less than 3 working weeks to go we will do the best we can to assist.... Please note that our office will be closed from Friday 20th Dec and we will be back at work on Monday Jan 6th 2014 and I have only just got used to writing 2013!

13.01.2022 Improve your credit rating score in a few steps . According to The Bare Foot Investor, "a billion dollar company listed on the stock market this week, and its only major ‘asset’ is your personal financial details. The company is the Veda Group, and they’re a credit-reporting agency. If you’ve ever been knocked back for credit, you’ve probably heard of them. And if you’re an upstanding financial citizen you’ll definitely want to know about them next year. That’s because the c...urrent privacy legislation only allows them to collect ‘negative’ credit information on you: applications for credit, outstanding credit, unpaid bills over sixty days, and bankruptcy and other judgments against you. After some intense lobbying from Veda and other credit-reporting agencies, in March next year they’ll be able to put ‘positive’ information on your credit report. That’ll allow the banks to be able to give you a discount on your home loan if they like what they see on your credit report. And it also means they can charge a much higher rate if they don’t like what they see. Veda takes what’s on your credit file and calculates a score (called a VedaScore), from negative 200 to 1,200 (I’m guessing the guys in marketing lost the battle both on the name and the numbers). The average Aussie has a VedaScore of 550. In America credit scores are a huge business most people can recite their credit score yet in Australia over eighty per cent of people have never bothered to even check their file. So given that it may soon potentially get you better deals, let’s take a look at how you can improve your VedaScore: 1. Don’t apply for too many loans This is a big one. Applying for too many loans will hurt your score. Think of it like dating: if you’ve been throwing yourself at anything that moves and you’re still single it’s not a good sign.

10.01.2022 470 gets destroyed by waves Matteo Sammarco https://goo.gl/yT1ekH

01.01.2022 Reserve Bank announced that official rates left on hold at 2.5% = low mortgage rates :) =high real estate prices. :(