There are three major companies reporting on the public's credit activities in Australia: Dun & Bradstreet, Tasmanian Collection Service, and Veda Advantage. Each of these companies deals with aspects of public credit and keeps files of the public. They keep files for businesses and individuals alike that have been credit active in the past seven years. These files all include information such as where you applied for credit, if you acted as a guarantor, and if it was an individual or joint.

Your file will also contain information about your identity and credit assessments. This does include information on all current accounts such as payday loans, and public records information such as directorship and proprietorship. Other information in the files includes bankruptcy, court summons, and any credit defaults which may be in your name.

Regardless of which of the three companies above you choose to apply with, the records are yours to obtain. You may or may not have a reason for wanting your credit file, but if you're looking for a good reason to get your hands on it, then there are quite a few. For starters, you can check your credit details and find out what other companies are seeing when they look into your file.

Your credit file acts like a written reputation; an overall picture of your character. It goes without saying that a negative in your file will negatively effect someone's decision when hiring you or approving a loan of any sort. Even the approval of fast cash loans and online loan providers dabble in your credit file. Although receiving a loan with these types of providers doesn't necessarily depend on credit history, they often check anyway just to see who they are lending to.

To get a copy of your credit file through D&B, all you need is to file an application form which is available on their website. To go through Veda Advantage for a fast-tracked copy, you can also fill out an application form on their website. You can also mail or fax your request through if you feel like waiting for 10 days. Just remember to supply specific and accurate information when applying with these venues. Credit reporting agencies must provide you with your report within 10 working days by law. Although a copy of your credit report can be obtained for free, you can also obtain a copy of your file within 1 working day for a fee of $25-$45.

Occasionally, your credit file may be incorrect. If you have a default on your file that isn't yours for example, you must contact your credit provider so the matter can be investigated. If it's found to be a mistake, they must contact the reporting agency. Your credit provider is required by law to amend the mistake on your file after you've resolved the situation.

If someone has stolen your identity and blemishing your credit file, you are not responsible for the negative acts that the perpetrator committed. First, you should contact the police and inform them of the situation. You should have a copy of your credit file to use as evidence. Next, contact all credit providers involved and let them know about the situation. Make sure you get all information to help you dictate the process. Keep notes of all conversations you have with creditors, including names, dates and contact numbers. After this, it's out of your hands and you can do nothing but wait.

The best way around this is in prevention. It's always best to guard yourself against such things. You can do this by monitoring your credit file regularly and signing cards straight away and making sure to contact your providers if they are lost or stolen. Keep your PIN confidential at all times and shred all documents that contain your personal details. Keep these tips in mind and always remember that a higher level of responsibility is needed when dealing with credit issues.