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Equifax (Formerly Known As Veda Advantage)

We have 3 parts to our credit management

  • Internal (We try and recover funds internally automatically via our collections process  SEE (Collections Flowchart)
  • Milton Graham (formally known as Dunn & Bradstreet)  (An agency we use to recover funds on our behalf)
  • Equifax (formerly known as Veda) ( A credit file management which can see/add/delete and amend customers credit listing performed by SpinTel).
Equifax is the credit bureau used after accounts have gone through the collections process and failed - Customers account is defaulted.

Every person in Australia has a credit history report.  Various agencies can add info (both bad and good).  The customer can order a report of this from Equifax if they wish.  Most companies that want to provide the customer with some sort of credit (EG: Post-paid service, Credit card, loan, etc.) will do a check with Equifax first to see if the customer is a risk.  All checks are noted on the file.

When we send a bad debt notification (default) to Equifax, this is the absolute last resort as we have tried all ways to get the funds back.  Once listed, the customer can’t be ‘unlisted’.  If the customer pays back the debt after being listed with Equifax, we can just advise Equifax that the debt was paid back.  This will not remove their Default listing (just mark it as paid).  This is a super important note as we need to make sure the expectation is set to our customer.


  • Customer calls to settle debt
  • Customer requesting default removal
  • Account mode shows "Suspended Payment (VEDA/Equifax)
  • Balance has been zeroed out

What to do

If Milton Graham (formerly known as D&B) are unsuccessful in securing payment, a printed ‘Default notice’ is posted to the customers billing address when the debt reaches 90 days. The default notice gives the customer 14 days to settle the debt before their credit file is affected by a SpinTel 'default'.
On the 14th day, if the debt remains unpaid, a credit adjustment is issued on the customer account to zero out the balance (write off), and a 'default' is submitted to the customers credit file.  The name of the credit bureau is Equifax -


How to Identify an account with a write off

In station, note the account status, also note that the balance is $0:

Go to invoice and you will see the last amount in credit this means that we have already submitted the amount to Equifax (formerly known as Veda Advantage) as we have written off the debt


Once the debt is written off and the customer has been defaulted, reps must give the customer SpinTel’s bank details. Customers must pay through this method so that the payment is properly accounted for/applied by the credit department.

 BSB #


A/C #






  • Identify if the 10% D&B commission still applies
  • Advise  the customer default will be marked as "Paid" on Equifax records as soon as full payment is realised
  • If the customer requests to have the default removed, advise the customer the debt will be marked as paid and has to stay in Equifax records for 5 years


The very reason why reps will not process the payment is because if they do, it will put unnecessary credit to the account since the balance is zero (as it has been written off).

On the other hand, if customer pays to the SpinTel’s bank account, credit team will note the account as paid. If customer wants to make a partial payment, the customer can deposit it to the same bank account, credit team will make a note as to how much is the remainder that the customer needs to pay.

At no point reps will refer the customer to Equifax since it does not process any payments on behalf of a company. When the account is defaulted the 10% Milton Graham (formerly knwon as D&B) commission may or may not apply. Debts usually stays active with Milton Graham for year, if already closed with Milton Graham, commission is no longer charged. Carmen can check in Milton Graham’s site to confirm if the commission is still going to be charged.

When the customer pays a debt that has already been defaulted, Credit team can request Equifax to mark the account as paid instantly for as long as the Equifax reference number is available in the default. If this reference number not available, it normally takes 5-7 working days after the payment.

Generally, defaults stays with Equifax between 5 to 7 years (although a company can default a customer for the duration of up to 12 years). SpinTel defaults stays in Veda’s system for 5 years.

Defaults will not be removed as soon as the customer pays, it will just be marked down as ‘Paid’ in Equifax’s system.



Who does the customer pay if the debt has been written off and the account marked as “Equifax” (formerly Veda)?
  • If the customer calls to query an account with a zero balance and the status of “Equifax or Veda”, it needs to be handled by CRD.

Can we remove a SpinTel default from the customers credit file?
  • Only in extreme circumstances, we do remove a default - usually only if it was in error. Once the customers debt is settled, the default is marked as “paid” on the credit file. The default will remain on the file for 5 years from when it was first submitted.

The customer is threatening to go the Telecommunications Industry Ombudsman (TIO) to have the SpinTel default removed. What do I do?
  • If the customer is threatening to take the matter to the TIO, you will need to follow the Complaints process to have the matter dealt with.

The account balance is $0, does the customer really have to pay us?

  • For accounting purposes, debts which have reached a certain age are written off in our billing system. The debt is technically still owed to SpinTel, and to mark the debt as paid in the customers credit file it must be paid.

I have a question which is not answered in this F.A.Q., what do I do?
  • Please follow the same process of speaking to your Team Leader. If you are a Team Leader, please contact the Credit team by phone or email. The F.A.Q. will continually improve with your help.

The customer can obtain a copy of their credit file for free. 


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