Credit Report update


Just received my next Veda report.

The age of the Veda credit file has rolled into another year.

I actually gained 15 points due to the file ageing. That means then the sustantial drop in points I lost in one month was not caused by the artificial ageing of the credit file.

My Veda credit score is now 397 up from 382. Still in the lower 50% of New Zealanders.

That’s higher then I expected for someone with bank defaults. Do you have accounts who are reporting to Veda?

For comparison - I don’t. No credit card and my phone company doesn’t report. My internet is provided by a company I work for and my cellular phone is on prepay. etc etc…

I assume you are referring to the comprehensive 2 year reporting.
Yes GEM visa. But there have been no negative changes in the last 11 months.
They are all zeros.
ASB do report but that overdraft has long since been closed (never in default)
The Warehouse card is still displayed but the account was closed in June 2014 when I had to ask Veda to do that because the Warehouse don’t report a closed account to Veda. It had actually been closed for some years and never in default.
That’s the only three companies.
So the only change was the ageing rolling and also a date update from GEM as they do monthly. But no negative entries. I don’t think that act of updating the comprehensive graph actually affects the points. But I could be wrong. I did miss this last GEM payment so the next report the 2 year graph will have a 1 or a 2 for the days late.
I know roughly when that entry should occur so I will see if I can afford another report immediately afterwards and see if the score changes.

My phone or power don’t report. Comprehensive reporting only came in in 2012 and I’ve been with my providers longer than that.
Certainly its possible that they may do it for new customers if they even subscribe to Veda. There are also two other credit reporters who use comprehensive credit reporting but not scoring.

Veda are also trying to gain access to records of people who have legally changed their name. Also I believe that the IRD are looking into listing upaid tax against peoples credit reports. I don’t know yet if they have started. It was a while ago.  That’s going to cause tremendous issues for a lot of people. Especially if they do it to people that are in genuine financial hardship.

As it stands today they can empty bank accounts without warning. They did that to mine after I met with them to try and find a way forward after the earthquakes. I had to go to WINZ for rent because they took every last cent I had.

I remember the IRD when I asked them about a different matter they did say that paying tax is actually voluntary. I think that is written in the Income Tax Laws.

I would have thought that tax being voluntary would be inconsistent with them moving unpaid tax to debt collectors who force people to pay them.

There are just so many fundamental legal flaws and such lack of transparency that those issues need to be addressed first.