Privacy Act 1988
View history note
Hide history noteConsumer credit defaults
6Q(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
6Q(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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