Consumer Action Law Centre has received a number of complaints about Malouf Group Enterprises – a ‘credit repair’ company that a number of consumers have turned to in the hope of removing bad credit histories from their credit report.
Callers to our legal advice line have complained that Malouf Group represented their bad credit histories could be fixed for fees exceeding $1,000, but;
- the bad credit history couldn’t be fixed;
- Malouf Group failed to warn them about the possibility of further costs or expenses;
- they had to do a lot of the work themselves; and
- the benefits, if any, were not achieved within the timeframes indicated by Malouf Group.
Malouf Group has denied the accuracy of the complaints made against it.
Consumer Action reminds Victorian consumers that accurate listings on their credit report cannot be removed once properly entered without the agreement of the company that made the listing. But consumers can challenge anything on their credit report which they think is inaccurate without having to pay a cent.
In the first instance, you can complain to the creditor, whoever made the listing or the credit reporting agency. If this doesn’t fix the problem, you can complain to the independent dispute resolution or ombudsman service that the company belongs to.
Victorian residents with concerns about a ‘credit repair’ company can call Consumer Action’s advice line on (03) 9629 6300, or for country or mobile phone callers 1800 466 477. Residents of other states should seek advice from their local community legal centre.
Further information on how to correct mistakes on your credit report yourself is available in our factsheet.