Commonwealth Consolidated Acts

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PRIVACY ACT 1988 - SECT 6Q

Meaning of default information

Consumer credit defaults

             (1)  Default information about an individual is information about a payment (including a payment that is wholly or partly a payment of interest) that the individual is overdue in making in relation to consumer credit that has been provided by a credit provider to the individual if:

                     (a)  the individual is at least 60 days overdue in making the payment; and

                     (b)  the provider has given a written notice to the individual informing the individual of the overdue payment and requesting that the individual pay the amount of the overdue payment; and

                     (c)  the provider is not prevented by a statute of limitations from recovering the amount of the overdue payment; and

                     (d)  the amount of the overdue payment is equal to or more than:

                              (i)  $150 ; or

                             (ii)  such higher amount as is prescribed by the regulations.

Guarantor defaults

             (2)  Default information about an individual is information about a payment that the individual is overdue in making as a guarantor under a guarantee given against any default by a person (the borrower ) in repaying all or any of the debt deferred under consumer credit provided by a credit provider to the borrower if:

                     (a)  the provider has given the individual written notice of the borrower's default that gave rise to the individual's obligation to make the overdue payment; and

                     (b)  the notice requests that the individual pay the amount of the overdue payment; and

                     (c)  at least 60 days have passed since the day on which the notice was given; and

                     (d)  in addition to giving the notice, the provider has taken other steps to recover the amount of the overdue payment from the individual; and

                     (e)  the provider is not prevented by a statute of limitations from recovering the amount of the overdue payment.



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