Frequently Asked Questions
Why has my information remained unchanged?
The company reporting the information has confirmed with illion that the information is accurate, so the item has not changed.
Information on credit reports
Information that is contained in our credit reports is detailed and can sometimes be confusing. Outlined below is what information is contained in your credit report and how long this information will stay on your report.
Why is this information in my credit report?
A credit report is a record of information relating to your personal credit history. This is used by credit providers, such as banks and telecommunications institutions, when assessing your credit application.
Your credit report may contain the following information about consumer credit that you have been given or have applied for:
- Your name, or any alias you use or a previous name, date of birth, gender, current or last known address and two (only) previous addresses, current or last known employer and driver’s licence number
- information that shows you applied for credit, and the type and amount of credit that you applied for
- the date you opened your credit accounts
- the type of credit accounts you opened
- the date a credit account was closed
- the maximum amount of credit available to you under each credit account (and if you get a credit limit increase on a credit card, for example, the new credit limit can be shown)
- basic information about the terms or conditions relating to the credit repayment (such as any maximum term and whether payments are interest-only or principal and interest)
- default information (that is, a payment of more than $150 that is at least 60 days overdue and for which you have been served with at least two notices requiring payment)
- information that shows you have paid a default amount, and the date you paid it
- information that shows that, because of a default, you have entered into a new or varied arrangement with that credit provider (or another credit provider)
- information about whether monthly repayments have been paid on time over the past two years
- publicly available information about your history and activities in relation to consumer credit
- a credit provider’s opinion that you have fraudulently attempted to get credit or fraudulently evaded your obligations to repay credit, or that you do not intend to comply with your repayment obligations (after taking steps to contact you over a period of at least six months and failing to do so
- court judgments about credit provided to you (or that you applied for)
- information about a bankruptcy, a debt agreement or personal insolvency agreement.
You will also be able to see which credit providers have accessed your credit report.
How long will information stay on my credit report?
Following the introduction of comprehensive credit reporting, both positive and negative listings are recorded by illion. Use the following as a guide for how long listings will appear on your file:
| Type of listing | Length of time it’s listed (years) | Description |
| Repayment history information | 2 | 2 years from month following due date of periodic payment |
| Credit application information | 5 | Applications made to utility companies, banks or lenders for services or credit products (whether approved or not). |
| Overdue accounts listed as a payment default | 5 | Overdue accounts of $100 or more that is 30 days or more overdue. |
| Court judgments | 5 | Once you’ve been through the court process the court judgement will remain on your credit file for 5 years. |
| Bankruptcy information | 5 | From date of discharge from bankruptcy |
| Overdue accounts listed as a clearout or serious credit infringement. Serious credit infringement involves fraud (e.g. fraudulently obtaining credit). | 5 – 7 | The period for clearout runs from date of notification of debtor’s default to guarantor |
Why do I have a credit report?
You have a credit report if you have applied for credit. This includes instances where you have applied for a new phone contract, credit card, loan, mortgage or hire purchase.
Credit providers – such as banks, other financial institutions, and telecommunications and utility companies – use credit reports to help them determine if they will give you credit and, if so, how much. Information from the reports can also be used by the credit provider over the course of the credit relationship.
What If I disagree with the Outcome of My Dispute?
If you receive your dispute results and don’t agree with them, you have a few options:
- Check with the entity that supplied this information to illion
It may be helpful for you to discuss their decision with the entity that provided this information as they should be able to explain the reason more fully. - Add a statement of dispute to your credit report
In the event that we do not update your credit report to reflect your request (for example, if there is insufficient documentation to uphold your dispute) you can request a statement be included into your credit report advising of the correction sought but not made. - Your rights
In the event that you are not satisfied with the decision to decline your correction request by the entity that supplied this information, you may consider your options, including to lodge a complaint by reviewing your rights here.
How to contact Credit Simple:
Online: www.creditsimple.co.nz
Email: moreinfo.support@creditsimple.co.nz