A wrong default, a debt listed twice or an account that is not yours can make a car loan harder to get or more expensive. Fixing a genuine credit report error is free, and the rules set firm timeframes for the business handling your request. Here is how to get your report, tell an error from a correct but negative listing, request a correction and fit it around a car loan application.
Get your free credit report first
A credit reporting body must give you your consumer credit report for free once every 3 months, according to the OAIC. You can also get a free copy if you have been refused credit in the past 90 days, or if your credit information has been corrected.
There are two main credit reporting bodies in Australia, Moneysmart says: Equifax (138 332) and Experian (1300 783 684). They can hold different information, so get a copy from both. illion is now part of Experian, and the illion website now redirects to Experian. Equifax lists the same free report triggers: once every three months, declined credit in the last 90 days, or an item corrected.
What is on your credit report
The OAIC lists what a consumer credit report can contain. The parts most worth checking before a car loan are:
- Identity details: name, date of birth, current and previous 2 addresses, employer and driver licence number.
- Accounts: who gave you credit, the type of credit, the limit and when it opened and closed.
- Repayment history information: whether each payment was on time or missed. A payment counts as missed if it is made more than 14 days after the due date, and this history stays for 2 years (OAIC).
- Financial hardship information: recorded against your repayment history when you have a hardship arrangement. It stays for 1 year (OAIC). Moneysmart says a hardship arrangement does not affect your credit score, and you are shown as up to date while you stick to it (Moneysmart).
- Credit enquiries: each application where a lender checked your file. These stay for 5 years.
- Defaults, court judgments and insolvency: defaults of $150 or more that are at least 60 days overdue stay for 5 years, court judgments for 5 years and serious credit infringements for 7 years (OAIC).
Error or not: a quick decision list
You can only have information corrected if it is wrong. Moneysmart is clear that you cannot change or remove correct information, even if it is negative. Use this list to sort each item on your report.
Likely an error you can ask to correct:
- Your name, date of birth or address is wrong or out of date.
- An account or debt is not yours, which can be a sign of identity theft.
- A debt is listed twice, or the amount is wrong.
- A payment is shown as missed but you paid it within 14 days of the due date.
- A default is listed for less than $150, or for a payment that was not 60 days overdue.
- A default was listed without the required notices, or the notices went to an old address that was not your last known address (OAIC).
- A default was listed while your hardship request was still being decided, or less than 14 days after you were told it was refused.
- A default was listed while you were in dispute about the debt, or an agreed payment plan or contract change is not shown (Moneysmart).
- An item is older than its retention period, for example a default older than 5 years or repayment history older than 2 years.
Likely correct, so it stays:
- Late payments in the last 2 years that really happened.
- A valid default you have since paid. It stays, but is updated to show it was paid (OAIC).
- Applications for credit, including buy now pay later, which stay for 5 years (Moneysmart).
- A hardship arrangement shown for the months it was in place.
If an item is in the second group, a correction request will not remove it. Explaining it to a lender upfront is a better use of your time.
How to fix a credit report error
The OAIC says to contact the credit provider that listed the information first, because that is usually the most efficient route. You can also ask Equifax or Experian directly. There is no wrong door: whoever you ask must consult the other businesses involved if they cannot fix it themselves. There is no charge.
If the business is satisfied the information is incorrect, it must take reasonable steps to correct it within 30 days, or a longer period you agree to, and send you a written notice of the correction. If it is not satisfied, it must write to you with its reasons and tell you about your complaint options (OAIC).
When you lodge, have ready the exact item as it appears on your report, what is wrong, what it should say and any evidence such as a bank letter or account closure statement. Experian asks for those details, plus a statutory declaration where the problem is identity theft or fraud.
A dated correction checklist
The dates below are a worked example, assuming you start on Monday 9 November 2026 and count 30 calendar days. Your own dates depend on when you lodge and any extension you agree to.
- Mon 9 Nov 2026: request your free reports from Equifax and Experian.
- When they arrive: go through every item using the decision list above. Write down each suspected error and gather evidence.
- Mon 16 Nov 2026: lodge a correction request with the credit provider (or the credit reporting body). Keep a copy and note the date.
- By about Wed 16 Dec 2026: 30 days after lodging. You should have either a written notice that the item was corrected or a written refusal with reasons.
- Thu 17 Dec 2026, if refused or no response: make a complaint to the credit provider or credit reporting body. It must be acknowledged within 7 days (by about Thu 24 Dec) and decided within 30 days (by about Sat 16 Jan 2027), unless they ask you to agree to an extension (OAIC).
- If still unresolved: go to the external dispute resolution scheme the business belongs to. For lenders this is often the Australian Financial Complaints Authority, a free and independent service. You can also complain to the OAIC in writing. It may decide not to investigate a complaint made more than 12 months after you became aware of the problem.
- After a correction: request a fresh copy to confirm the change. A correction entitles you to another free report.
On these example dates, a correction that is refused and then taken through a complaint could run to mid January, roughly 2 months after you first lodged. That is the reason to check your reports well before you plan to buy, not the week you find the car.
How this fits your car loan timeline
Each credit application is recorded as an enquiry and stays on your report for 5 years (OAIC), so applying with several lenders while an error is still on your file can add enquiries without improving your chances. The OAIC describes an enquiry as a credit provider's request in connection with your application, so ordering your own report is not one.
If you need the car before a dispute is finished, tell the lender or broker about the error and the date you lodged the correction, and keep your evidence handy. Our guides on how your credit score affects your car loan rate and getting a car loan with a default explain how lenders treat what they find. You can also estimate repayments with the car loan calculator and compare car loan rates before you apply for a car loan.
Be careful with credit repair companies
Moneysmart says you do not need to pay a credit repair company to fix errors on your report. They may charge high fees for things you can do yourself for free, and in some cases non-payment of their fees can lead to a new default. Paying one may not improve your credit score. If you do use one, Moneysmart says to check it is licensed on ASIC's register first (Moneysmart). For help without the fees, the National Debt Helpline on 1800 007 007 offers free financial counselling (OAIC).
If you suspect fraud
Debts you know nothing about can mean someone has used your identity. You can ask a credit reporting body for a free ban on your report, though the OAIC notes a ban can make applying for credit harder while it is in place (OAIC).
This guide is general information only, not financial or legal advice. Consider your own circumstances, and check the current rules with the OAIC or Moneysmart before acting.
