The effects of new credit reporting are finally filtering through

Ahh this sucks I use PM for most of my portfolio but I pay all my bills myself minus interest repayments that just get deducted from my offset as I like to have the money in offset right up until its due but every now and again ill misplace a bill or I forgot and don't realise until they send the reminder notice.
 
Christ I've been late to pay maybe half a dozen credit card payments over the last 10 years. I hope this doesn't come back to bite me:(
 
The Dark Knight said:
Ahh this sucks I use PM for most of my portfolio but I pay all my bills myself minus interest repayments that just get deducted from my offset as I like to have the money in offset right up until its due but every now and again ill misplace a bill or I forgot and don't realise until they send the reminder notice.
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From reading the article, late utility and telecommunication payments aren't recorded on the History Register. It seems to apply to late mortgage payments, or not making the minimum payment on a Credit Card.
 
jerrybee said:
Christ I've been late to pay maybe half a dozen credit card payments over the last 10 years. I hope this doesn't come back to bite me:(
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You're not alone - I've had various late payments due to Westpacs internal systems diverting payments via an old account (don't even ask).

Also had 2 missed mortgage payments on one of my loans due to moving accounts around and thinking I lodged a new DD but didn't - silly mistake, but I didn't get notified until the second month.

There goes any hope of borrowing for the next 2 years!
 
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Most people would prioritise their mortgage repayments over anything else.

On the topic of utilities telco and insurance, most of them wouldn't hesitate for a second to try and shaft you, what I have learnt over the years now if you ever run into any difficulty with any of these companies is just hang up the phone and flick a email to the relevant ombudsman, it's amazing how quick they call you back and tell you how right you are and how sorry they are
 
Might be good for some people!
Including credit cards (I pay those off), I've got about 12 loans that I service each month and don't think I've ever had a late payment.

So if I have a history of a few hundred repayments without a single late payment, surely this would look good to the assessor.
 
spludgey said:
Might be good for some people!
Including credit cards (I pay those off), I've got about 12 loans that I service each month and don't think I've ever had a late payment.

So if I have a history of a few hundred repayments without a single late payment, surely this would look good to the assessor.
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Yes that's the idea. I think it will take a while to get there though as the big banks are not sharing yet.
 
I've been able to give the sheriff the slip lately, so technically I am not that close to bankruptcy. Wonder if my name will be on that bad boy register?
 
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