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Positive credit to stop client 'poor track record'

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Australian Broker | 23 Feb 2012, 04:45 AM Agree 0
The incoming positive credit reporting regime has been touted as a solution to consumers' "poor track record" of self-reporting
  • Michael Maher - Fair Go Finance | 29 Feb 2012, 11:26 PM Agree 0
    Our business, Fair Go Finance, provides personal loans to credit impaired clients, often needing instant access to cash . We rely on the current "negative" reporting system through VEDA to assess the clients application. The comment that "consumers often misrepresent their credit history" is confirmed daily in our business. Consumers do not like to remember nor admit to financial blemishes, human nature is often to only remember the good. That said, I therefore fully support the incoming positive credit reporting system as I believe it will better reflect a clients credit worthiness.
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