Comprehensive credit reporting changes mean consumer credit reports can now include ‘positive’ credit information such as if you make your credit card and loan repayments on time. Previously personal credit files could only hold ‘negative’ information like credit enquiries (applications) and defaults.
Many credit providers rely on business credit reports to aid their decision making when assessing applications for credit.
Anyone could potentially start up a small business - but not everyone who does will necessarily be financial experts.
Consumer fraud is defined as any fraudulent or intentionally misleading business practice, and it can have a significant impact on those whose information it targets.
Following the announcement of the new Federal Budget, there is good news for Australian small businesses looking to upgrade their capabilities.
For anyone juggling payments and bills from various essential service providers, from electricity and phone connections to rent or a mortgage, getting on top of their credit score may feel like a looming goal. However, with a few changes, you can begin to repair an unfavourable credit report.