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Your Credit Profile
Anyone who has borrowed money (for a credit card, mortgage, other loan, car etc) has a credit file. When you apply for a loan, the information on your credit file is taken into account.
Amongst other things, banks, retailers and other credit providers rely on your credit file when deciding whether to lend you money or not. Every credit provider attaches varying degrees of importance to the information provided in the credit file. Together with the information they obtain from you and depending on the amount of risk they are prepared to take, credit may be approved.
What is on a Credit File?
A credit file records information about people who have been seeking or obtaining credit during the past five years, and contains history including:
- Personal details such as: name, residential addresses, date of birth, drivers license number and current or previous employer
- Credit applications and inquiries you have made during the past five years
- Records of some current credit accounts
- Overdue accounts (defaults) which may have been listed against your name, including an indicator on whether the default amount has been paid or not
- Bankruptcy information
- Default judgments
- Public record information
Public Record Information includes:
- Judgment and writ/summons information obtained from the various courts around Australia
- Bankruptcy/Part X/Part IX information obtained from the Insolvency and Trustee Service Australia (ITSA) in each state.
- Directorship information obtained from the Australian Securities and Investment Commission (ASIC)
- Proprietorships
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Time Finance acknowledges the Traditional Custodians of the lands across Australia on which we live and work. We acknowledge their connection to this Country and pay our respect to Elders past, present and emerging.