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comprehensive credit reporting

What affects your credit score?

The factors that determine your credit rating have changed dramatically in recent years, so let’s begin with a brief history lesson. Back in the old days (okay, before April 2012), your rating was only based on negative credit events, such as defaults. This meant lenders had limited data on which to judge your creditworthiness. Six years ago, a new comprehensive credit reporting (CCR) system was introduced in New Zealand. The upshot is that organisations are now allowed to share far…

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Couple jumping on the beach
Life after bankruptcy: How to repair your credit score, finances and your emotional wellbeing

There’s life after bankruptcy. Having your debts cleared by the No Asset Procedure (NAP) or bankruptcy can be a chance for a fresh start. But picking yourself up after insolvency (bankruptcy or the NAP) can be way more difficult than most people expect. Insolvency isn’t just a piece of paper. By the time you’ve reached that point your financial and emotional future can seem like a long dark tunnel with no end. Coming back from bankruptcy When entrepreneur Michael Williams*…

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