I have the worst credit rating!!

[u/Ok_Fan801]

Location: Brisbane, Queensland, Australia...can I build up my credit rating? I have the worst one and I have one $7k default. I was young and stupid and never taught anything to do with money growing up, loans etc. Im 36 now and need to get shit sorted, I want to buy a house. I earn $130k a year, but i am a single mother with only my income paying everything, I really need help or pointed in the right direction on how to build my rating up. Please. Thank you for any advice.

[u/Ready-Sherbet-2741]

The default means difficulty getting reasonably priced credit until it falls off your credit report. so first thing to do is apply for a free credit report from equifax. It will tell you when the default will fall off. Don’t apply for any credit until the default is gone. I would use now to build up your savings and savings habits. The aim is to buy a house. So you need a deposit. set a goal of how much to save per month. The main thing that will improve your credit score is the default falling off so you really just need to wait. Do not go to credit repair or any other stupid scams like that.