An article detailing the credit repair company Clear Credit Solutions winning the Product Review award for the third consecutive year.
Online PR News – 02-December-2021 – Coffs Harbour, NSW – A credit repair agency used by more than 3000 brokers has won a prestigious award.
For the third consecutive year, Clear Credit Solutions has won the ‘Credit Score / Credit Repair Services’ category in the annual ProductReview Awards.
In July, Nectar Mortgages announced that it had signed a partnership with Clear Credit Solutions, which it said was its first ever partnership with a credit repair agency. Under the partnership, Nectar brokers can refer their clients to Clear Credit Solutions when those clients are unable to get a loan because of their poor credit score.
“There’s nothing more frustrating than putting in lots of time, work and effort into a client’s application – only to fail at the last hurdle when you discover they have a poor credit score,” Nectar general manager Stephen Harris said at the time.
Many brokers have been burned by unethical credit repair agencies in the past – which is why Nectar said it had been reluctant to partner with credit repair agencies previously.
To help clean up the industry, ASIC now requires all credit repair agencies to have an Australian Credit Licence, as of 1 July 2021.
Clear Credit Solutions director Peter Cole said the agency was operating to high ethical standards before it became compulsory.
“We only accept clients if we believe we have a strong chance of repairing their credit file, and we give them a full refund if we’re unsuccessful,” he said.
“That’s why, over the past seven years, we’ve worked with more than 3000 brokers and their clients.
“Unfortunately, a lot of brokers have had bad experiences with credit repair agencies – they’ve referred clients because they want to help them, but then the credit repair agency has behaved unethically, which has made the broker look bad.
“The main thing brokers need to know is that if a client is unable to get a loan because they have a problematic credit file, a credit repair agency can only remove incorrect listings from that credit file – the agency can’t remove information that is accurate and legitimate. So beware of referring your clients to agencies that seem to suggest otherwise.
“Also, one of the reasons brokers have been burned by credit repair agencies in the past is that some of them use sneaky pricing. So if you’re going to refer a client to a credit repair agency, make sure it has a simple, transparent fee structure.”