Veda Advantage is the Australian wide company that collect and disclose information to credit providers and other entities.
If you have an agreement with an entity such as a loan with a bank, a contract with a telephone provider or a lease for a car and you default in that agreement, that entity has the option to list you on the Veda Advantages data base for your default.
What does this mean? This means if you try and get credit later on down the track, buy a house or enter a new agreement with else, the new entity may do a ‘credit check’ on you and could refuse to enter into an agreement with you to provide to you their service because of your prior default. Everyone has access to Veda Advantage and all credit providers are able to carry out credit checks on you.
If you have a Veda listing it’s not the end of the world. The first thing you need to do is contact Veda Advantage and request a copy of your credit history including any defaults. Then speak to the entity that listed the default on your credit history to determinate the next steps.
If a dispute arises as to the default listing, you can request an amendment or investigation from Veda Advantage. For Veda to remove the listing they will need to contact the original credit provider and investigate the validity of the listing. If you unable to have the listing removed yourself through Veda you have the right to place a statement on your file stating you have attempted to amend your file. This notifies any future credit providers that you have sought an amendment.
Still have a credit listing and need it gone? We can help. If you have a valid reason why it should be removed or the grounds that we may be able to use to negotiate the removal of a listing and settlement of the debt with the original credit provider our firm would be more than happy to assist you. We are also able to correspond with Veda Advantage on your behalf.
If you would like more information or want to obtain the best possible chance of a successful outcome in your dispute, please contact our Commercial Litigation Department Manager, Amanda Heather on direct line 07 5506 8245, email firstname.lastname@example.org or free call 1800 621 071.
We have an experienced dedicated Commercial Litigation team that practice exclusively in these areas.