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Tammy B.
Tammy B.
Engadine, NSW

We want to buy a property to live $1.4M and have $600k deposit. Problem is we have two defaults on our record, both paid. We used to run our own business but my husband is back working fulltime as an employee and earns $90,000 a year and I work 3 days a week and earn $50,000. We have been told the only loan we can get is through a 2nd tier lender and the rate would be 4.8%. Is there a chance we could get a lower rate, under 4%?

4 years ago


Hi Tammy

Can you elaborate on the type of default you have (I.E> Who listed the default)? If you dont want to post it here; then please call me on 0414 727 308 as I may be able to assist you.



Hi Sam, we have a few supplier issues with old business and all paid when we sold home 2 years ago

Hi Tammy

ok.. Please call me on 0414 727 308 as I may have a solution for you.



Hi Tammy,

I work very closely with a company who can review certain defaults and have them removed from your record in particular situations.

I would be happy to see what I can do to help you.

If you would like to contact me on 0431.156.001 and we can go from there.


Hi Tammy,

To answer your question. There is possibly some lenders out there that could offer below 4% given your current finance history, however I would need to ask a few more questions so I can understand a bit more about the whole situation. Happy to investigate further for you if you like. I have access to over 40 lenders, many of who are willing to listen and work with 'paid' defaults.

Happy to take a call at any time to discuss further.

Zaid - 0401586901

Paid defaults are sometimes curly & restrict your ability to secure traditional mainstream home loan rates.

That being said, the news isn’t ALWAYS bad as there are a number of pathways available once a clear picture is painted around your circumstances and the events that lead to the default. It’s not human nature for people to avoid paying bills when they are due.

In my experience I have found that lenders can apply their discretion and I have had success in securing mainstream rates for clients in a similar situation yours.

I trust you may secure more competitive options that will assist you in making the dream, an affordable reality.



Hi Tammy - there are a few lenders who can look at your history for the last 2 years in conjunction with a story around how to debts came about - the amount $ - and the fact they were paid

You are wanting to borrow around 63% and non in LMI space - so the lender can make their own credit decision.


Hi Tammy,
Sorry it's taken me a while to reply to your message.

Most defaults can be removed by a suitably qualified lawyer. My firm, MyCRA Lawyers is the only Specialist Credit Repair Law Firm in Australia.

There are many shonks out there that get lucky occasionally, and one of them was just ordered to pay a total of $1.7million in fines, refunds and legal fees for misleading and deceptive conduct. 14% didn't even have a default, but he took their money anyway! [read more here, https://www.mycralawyers.com.au/?s=asic ]

If you would like professional help, please call my team on 1300 667 218

When you call, we'll ask you questions to get a deeper understanding of what happened in your lives prior to the defaults being listed.
We'll ask you about any communications you had with the creditors during the troubling time.
We'll ask you about any assistance offered (or not offered) by your creditors and so on.

When we have a much clearer idea of your situation, and after looking through your credit files with you (over the phone), we'll be in a better position to make a recommendation as to your options, and actions you can take yourself.

We often see cases where a client has been told to engage a 'credit repair agency' (not a law firm), and the 'credit repair agency' has quoted this, and that, and made all sorts of promises. Thankfully the client has felt uneasy about these 'credit repair agencies' and called us before they made a costly mistake.

In a particular case a few weeks ago, the client sent me her credit files and after a quick look, I immediately saw why the 'credit repair agencies' were so eager to take her money.

The default she was worried about was due to automatically expire and be removed automatically, and for free two weeks later, so I told her to save her money and just wait the two weeks. She was very grateful!

She would have paid one of those 'credit repair agencies' her hard earned money, they would have come back two weeks later and told her "Success", and charged her a success fee on top, when all they did was to do nothing and wait it out. Unfortunately, she would not have realised and actually thought she'd got what she paid for.
(there are in excess of 60 unlicensed 'credit repair agencies' [anyone who is not a law firm is unlicensed] taking peoples money unlawfully at my last count, thank goodness ASIC has started to take action and fine these shonks.)

I hope my information has helped a little Tammy.
I will also post a blog post today with the Top Ten Credit Repair Tips that I think will be helpful for you.

Good luck and I hope to hear from you.


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