Bankruptcy Information

Bankruptcy Act information is an important piece of data to help make informed decisions on accepting new applicants and managing existing customers. Bankruptcy Act Information is held on credit files for seven years (prior to January 1998, Bankruptcy Act Information was held for five years).

 

Veda receives information on:

1. Bankruptcies - provides details of all new Debtor Petitions, Administration Orders and Sequestration Orders that have been registered by ITSA
2. Debt Agreements (Part IX) & Personal Insolvency Agreement (Part X)

 

Types of information include:

• type and date of bankruptcy administration or proceeding
• identification number
• full name and alias of debtor
• debtor's address and date of birth
• debtor's occupation and business name

 

Bankruptcy Act information are utilised in a wide range of services across Veda that include consumer credit records of individuals. These products include:

• Credit history reports
• Credit score reports
• Commercial monitor alert