This is the stupidest and most unfair new credit rule ever!
Apparently from next month onwards, any time you are just 5 days late on a bill from a licensed credit provider, that late payment will go as a little mark onto your credit file. A little black mark. Every. Single. Time.
That history will be available for any lender to check out if you ever need money again.
Credit card payments. Mortgage payments. Car loans. Personal loans.
It's predicted that it won't be long before Utility bills will be included. Then Telco bills.
These sudden changes are taking place next month and no one is telling us about them.
What's worse is that the scheme is retrospective. From December 2012, if you were late it can be uploaded to your file. Here's the link to the article written by the reporter from The Canberra Times.
http://www.canberratimes.com.au/com...ew-credit-reporting-rules-20140210-32d1i.html
Apparently from next month onwards, any time you are just 5 days late on a bill from a licensed credit provider, that late payment will go as a little mark onto your credit file. A little black mark. Every. Single. Time.
That history will be available for any lender to check out if you ever need money again.
Credit card payments. Mortgage payments. Car loans. Personal loans.
It's predicted that it won't be long before Utility bills will be included. Then Telco bills.
These sudden changes are taking place next month and no one is telling us about them.
What's worse is that the scheme is retrospective. From December 2012, if you were late it can be uploaded to your file. Here's the link to the article written by the reporter from The Canberra Times.
http://www.canberratimes.com.au/com...ew-credit-reporting-rules-20140210-32d1i.html