Credit Corp Group Questions & Answers

Very interesting. They depend on the harassment aspect and not knowing the law. Well thank you very much for that. Now the ball is in my court, and because ive paid off the initial arrears, now i wont pay the five grand fees they want for $4600 in arrears. Ive actually paid them $4900 to date and have notified them about it. All they could reply with was my statement, of which i already have, and based this all on. Theyre scared it seems that ill stop paying. Thats how they make their money. And reported to the ACCC for good measure. SEE YA LATER.

Sorry but it doesn't work like that, you've accepted the debt by making payment and acknowledging the debt in that way.

Yes exactly, if you never paid anything the statute would have expired..

Yer but 3v3n if you make a payment after six years you said it restarts but you also sid it's not legally recoverable after six year so then you sue the debt collector for illegally taking a payment in a unrecoverable debt and ask for the same amount as the. Debt in comparison for breaking the. Law and damage and miss leading act and information they gave

This is my exact thoughts. They’ve been in my credit report for 3 years and renew it each month. This cannot be legal. It’s completely f*#ked!

Yes. I’m getting the same emails and they say nothing about what this debt is.

First get a fresh copy of your credit report. Near the default will be a reference number. Call them and quote the reference number. They may have onsold it and forgot to update the credit file. The likelihood of you being listed a default in error is very slim.

Its not so bad when you owe someone and they hound you for it! But when you know it’s not you they are looking for and they got the number wrong well that’s a whole other nightmare!

credit corp staff are complete MORONS. The whole world has been in a Pandemic for over 2 years now, and they have no better job then chasing up debt? these staff members should go and get themselves a REAL JOB, and stop harassing people. I abuse the staff at Credit Corp it is my job too. :_) I have told them 1000 times I am JUDGEMENT PROOF, and still they do not listen and I still keep getting called up. Do not pay your debt back block the numbers I have blocked 80 numbers of theirs so far. These morons do not deserve respect. To this day I have still not paid 1 cent back.

Love your style man. Im doing the same now my debt is overpaid and im paying thousands in fees. SEE YA LATER CREDIT CORP.

Don't pay claim back anything you have paid as a fraudulent transaction and disengage with them, report them to the relevant authorities and never give them another $$, I'm sure from the feed you can see they are a scam company flying under the radar.

They did the same to me, I didnt pay them

This is the best advice you could be given. Please read this carefully and read it all. Firstly there is no way you can transfer your debt to another company. There is no such thing as transfers and there is no such thing as a better company. These companies you are talking about are debt collectors they are not there to consolidate your debt they are there to get as much money as they can from you and rip you off they will bully and intimidate you in any way possible to get your money with empty threats. Secondly you need to stop paying them. Consider this, think about the current crisis we are going through with coronavirus. Global economies including Australia being shut down, mass unemployment, businesses going into receivership, cash running dry, long queues at centrelink, think of all of the billions of dollars that will be piling up in debt. So much debt to chase that will never be paid. Who is to say that credit corp will exist in six months time if they can't operate through the crisis because of nationwide lockdowns? How can they exist to collect money and stay in business if there is no money to collect and the country has gone bust? Now the next step. If they call you again just hang up, call you on the mobile block the number, they call from another number block that number too. any mail you get in the post from them just throw it in the bin. Eventually they will give up because they have thousands if not hundreds of thousands of files to go through how can they even remember your first name? Theres so many people out there with outstanding debts of 10 grand or more and the number of debtors are only going to triple or go ten fold so why even worry?

Hello, Thank you very much for your message and advise.. really appreciate it! I can’t believe how they are getting away with this, just terrible. I will try and stop my payments. All I’ve noticed is the money I owe just keeps getting higher and not lower (doesn’t make sense). Anyway.. THANK YOU :)

You cant transfer Credit Corp buys debts for 50cents in the dollar & then goes out and collects the full amount. You cant negotiate with them..Credit Corp are sharks they will chase you for the next 10 yrs if they have to they will NEVER give up. They wont stop payments for any reason even during the virus they are still collecting debts even when you die they will still go after the debt through your estate I had a $7.000 debt with them & it blew out to $22,000 in 12 months Dont block numbers They have over 100 different mobile numbers they ring on. If you keep blocking numbers they will just ring on another one. they will send a field officer around to your home & work & all your relatives places until they find you then they will get a court judgement & send the sheriff around to take your furniture, car computers or anything of value you cant get out of by saying someone else owns them it dosent matter you have to show the sheriff proof of whose name everything is in. & you cant stop the sheriff from taking anything. then they will get a court order to garnishee your wages. & if you have a home mortgage or own a house they will get a court order to sell your house. Do what i did go & see a financial councillor thru the salvation army or st vincent de paul & let them deal with Credit corp. They are not allowed to contact you once you have a councillor. Credit corp owns wallet wizard & 5 other lending & finance companies the chances of them going broke is remote. While you are not paying anything they are charging you a whopping 52% interest per month. You will make things worse if you try to avoid them believe me i tried that & got no where

I have had dealings with credit corp years ago & they havent changed they will do what ever it takes to collect the debt if you try to avoid them it will make it worse They will get court judgements & proceed with legal action without you knowing it & the sheriff will turn up on your door step with a court writ of execution My suggestion go & see a financial councellor thru st vinnies its free & that way you wont have to deal with Credit Corp. Make an offer to pay the loan in installments the important thing is dont try to aviod them by not answering the phone or throwing mail in the bin They will eventually catch up with you one way or another

Firstly, let's address what they cannot do. 1. Once a debt is 6 years old it becomes statute barred meaning it can no longer be LEGALLY pursued. 2. They cannot just send a sheriff without your prior knowledge. A Summons must first be served in person (and this can be upon another member of your household if they confirm you live at the address and are over 18yrs) Once a summons is issued you have 28 days in NSW to defend, arrange payment installments with court or pay in full. If this isn't done, the Plaintiff (Credit Corp) will apply for default judgment. This lasts 12 years. It remains on your credit file. This DJ means they can proceed with a Writ, Garnished or Examination summons at any time in that 12 year period.

The 6 years on stat barring a debt commences from the date of the last payment made.

Once you make ANY payment to Credit Corp you have accepted liability for the debt - whatever the amount. So think carefully.

If you do not owe the debt because you already paid then it is ILLEGAL for anyone to pursue it! Make sure you have everything IN WRITING when dealing with financial accounts and keep receipts. You have to right to lodge a complaint with APRA if you believe Credit Corp have wrongly chased you or breached your privacy. It's very important to lodge such complaints because they will get fined and it is recorded in stats against their company.

I’ve been trying for years.... have seeked financial Councelling they still harassed blocked numbers they have harrassed and release personal info via email and phone to neighbours (where I dont live) family strangers threatened That I will go to jail etc I e have complained to asic accc consumer affairs CALC FOS... etc guess what no one cares - the have a warrant in my property I was never notified or served paperwork - this is crap

So complaining to FOS (now afca) back then was no point as the owner of credit Corp was on the board At FOS.... maybe I’ll try again now since they cleaned up and got rid of all the crooks

Ahhh it’s so frustrating isn’t it!! Good luck and I hope you get somewhere with it!

And thank you everyone for all your comments and advise! Taking it all on board :)

have you thought about asking wallet wizard

Don't use them, or any payday lender!! If you read these reports you'll see that they're thieves and lying rogues.

This answer is for Jessica, but it would apply to everyone. I don’t know what state you are in I’ll use NSW for my response, but every state maybe slightly different so you’ll need to check. In NSW these collection agencies buy your debt from other companies, for pennies on the dollar. For a debt of $10,000 they probably Paid $1000 dollars or less. They call, write and even personally drop by to collect money from you.

They have 6 years to collect the debt from you. Unless it’s already been to court. Then it could be a lot longer.

That is the current statue of limitations for collection of debts in NSW 6 years.

This debt stays on your Credit Report for 5 years! 5 years either from the day you admit to the debt or 5 years from you last payment. Each time you make a payment the 5 year cycle reverts back to day one. It does not matter if you even pay off the entire debt in full. This debt will stay on your Credit Report for 5 years from the last payment you’ve made or admitting to the debt.

My advice is to just stop making payments to this outfit. Every time you make a payment you are literally stretching the length of time this debt stays on your credit report.

CreditCorp is Lowest of the Low. Harass people is all they do!

Like I said in the beginning each state could be a little different so you’ll need to check.

5 years to have this bad debt removed from your credit report, and they have 6 years to collect it from you. That is the statute of limitations. After that they can not bother you anymore!

Wallet Wizards are a Credit Corp company. !!!!!!!!!

Colleen don't pay them a cent get legal advice this company is nothing but a greedy scummy team of thieves . They prey on people who had debts with other institution and they buy debts for peanuts and then add on all the extra fees and charges thats where they make all this money . The sad thing is our government allows this to happen by giving them the rights to get court orders and then the Dog sheriff comes to your home and helps himself to your personal belongings .?? How the hell is this right or fair ?? we all need to complain about this ilegal system before too many innocent people lose there things that they have worked hard for . Good luk Colleen dont get sucked in by this fraudulent company.

Fyo. IF your debt is older than 6 yrs, it cannot get pursued in court (last payment by date) CrediCorp is annoying, yes. But they act within the law and, after all, if you owe a debt you owe a debt.

CreditCorp operates in 3 countries and has about 2500 employees.

I was on the phone with them today, trying to negotiate a deal to pay off my $12.000 debt from a credit card.

They wouldn’t move at all. Only after about 30 minutes they offered to go to 10.000.

I hung up on them, but they will now summon me to court and if I don’t defend myself they’ll get a default judgement, allowing them to take my couch.

I will end up paying them, there is no way out, other than

- leaving the country for good - declaring bankruptcy - dying

IF you TRULY don’t owe the debt, you need to contact the financial ombudsman.

Hi Arsch, that’s pretty sad. Just to confirm if you leave the country for good can they still haunt you?.

Hi moira you should 100% take some kind of deal with your debt spiraling out of control just make sure you check all terms and conditions before agreeing to anything so you don’t get screwed. These people will try to suck you dry

They can't do anything if the debt is more than 6 years old under the Statute of Limitations Law. If it was from 2007 they can't do a thing. Don't own up to it, don't give them any personal information. Do some research and you will see. They will try and bully you though but don't give up.

Hi Lani, my wife owed them 46k between a loan and a credit card. I paid 17k and got a confirmation that both cc and loan are paid in full. But negotiating is the key. Always play low ball.i started off by offering only 9k and they offered 35k initially. We met in the middle after 1.5 hours on the phone.