Hi Andrea,
1) Our Council policy stipulates that we will update a customers credit file with the major credit reporting agencies in Australia to paid once the judgment debt has been paid in full (e.g Veda advantage), as such we will only process consent orders if the judgment has been obtained due to a Council error in process e.g. customer requested mailing update change but not processed correctly on Council’s end.
2) as we will only process a consent order due to a Council error we do not charge for it
3) the reason why we don’t process a consent order once the Judgment debt has been paid, is because it is not a true representation of a persons financial situation. After it is removed it is like it never existed, any form of credit they apply for from then will be viewed differently from a risk perspective on the financial institution side.
4) we do not issue NOD, the only impact this has on the credit file is updates the status of the file to discontinued and as such has no real impact for any future loans.
Hope this helps
Regards,
Dallas
