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PRIVACY ACT 1988 - SECT 20W

Retention period for credit information--general

    The following table sets out the retention period for credit information:

  (a)   that is information of a kind referred to in an item of the table; and

  (b)   that is held by a credit reporting body.

 

Retention period

Item

If the credit information is ...

the retention period for the information is ...

1

consumer credit liability information

the period of 2 years that starts on the day on which the consumer credit to which the information relates is terminated or otherwise ceases to be in force.

2

repayment history information

the period of 2 years that starts on the day on which the monthly payment to which the information relates is due and payable.

2A

financial hardship information

the period of 1 year that starts on the day on which the monthly payment to which the information relates is due and payable.

3

information of a kind referred to in paragraph   6N(d) or (e)

the period of 5 years that starts on the day on which the information request to which the information relates is made.

4

default information

the period of 5 years that starts on the day on which the credit reporting body collects the information.

5

payment information

the period of 5 years that starts on the day on which the credit reporting body collects the default information to which the payment information relates.

6

new arrangement information within the meaning of subsection   6S(1)

the period of 2 years that starts on the day on which the credit reporting body collects the default information referred to in that subsection.

7

new arrangement information within the meaning of subsection   6S(2)

the period of 2 years that starts on the day on which the credit reporting body collects the information about the opinion referred to in that subsection.

8

court proceedings information

the period of 5 years that starts on the day on which the judgement to which the information relates is made or given.

9

information of a kind referred to in paragraph   6N(l)

the period of 7 years that starts on the day on which the credit reporting body collects the information.



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