PRIVACY ACT 1988

PART IIIA - CREDIT REPORTING  

Division 2 - Credit reporting bodies  

Subdivision G - Dealing with credit reporting information after the retention period ends etc.  

SECTION 20W   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.
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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