what a tirade, page-7

I don't think a lot of people understand how a Credit Bureau works or where they fit in the whole credit landscape.

A. Veda doesn't put a default/infringement on your file. The Bank, Trade Credit provider etc. does.

B. Credit Providers have to abide by goverment legislation and laws. A credit agency doesn't make these laws. The government does.

C. A credit agency pretty much holds the credit data. They use that data to provide insights, risk analysis, decision making better and easier for companies, business in giving credit (Trade, Consumer and Commercial)

D. The new Comprehensive Reporting has been driven by the government with the assistance and input of Credit Agencies. Positive reporting is active in a lot of countries already - US, NZ etc.

E. If you have an issue with your credit file, you can put a ban period on it, so you can resolve any issue with the provider who put the default etc. on it.


No company is perfect, but i think a lot of people think "oh i have a default on my file, stupid credit agency fault" it is far from the truth.