Comprehensive Credit Reporting (CCR) is a reporting system where credit providers, such as banks, are required to share customers' credit histories. This helps financial institutions make more informed lending decisions. Under Comprehensive Credit Reporting, credit providers share both positive and negative credit data. With CCR we report:
For more information on CCR, check out the Credit Smart website.
Credit reporting bodies are independent organisations that securely report credit and personal information to credit providers to help them assess a credit application.
Under CCR we share your credit information with credit reporting bodies. This information gives credit providers a more comprehensive view of your credit history, enabling them to make a more informed assessment of your ability to repay the loan.
If your payment is more than 14 days late, and your repayment history has been provided to a credit reporting body, then this will appear on your credit report issued by that body.
The repayment history information on your credit report will reflect what was agreed under the financial hardship arrangement. A flag will appear alongside your repayment history to show that it’s associated with a special arrangement. In the credit report this will be referred to as 'financial hardship information'.
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