Section 20W — Privacy Act 1988: Retention period for credit information—general

The following table sets out the retention period for credit information: (a) that is information of a kind referred to in an item of the table; and (b) that is held by a credit reporting body. Retention period Item If the credit information is ... the retention period for the information is ... 1 consumer credit liability information the period of 2 years that starts on the day on which the consumer credit to which the information relates is terminated or otherwise ceases to be in force. 2 repayment history information the period of 2 years that starts on the day on which the monthly payment to which the information relates is due and payable. 2A financial hardship information the period of 1 year that starts on the day on which the monthly payment to which the information relates is due and payable. 3 information of a kind referred to in paragraph 6N(d) or (e) the period of 5 years that starts on the day on which the information request to which the information relates is made. 4 default information the period of 5 years that starts on the day on which the credit reporting body collects the information. 5 payment information the period of 5 years that starts on the day on which the credit reporting body collects the default information to which the payment information relates. 6 new arrangement information within the meaning of subsection 6S(1) the period of 2 years that starts on the day on which the credit reporting body collects the default information referred to in that subsection. 7 new arrangement information within the meaning of subsection 6S(2) the period of 2 years that starts on the day on which the credit reporting body collects the information about the opinion referred to in that subsection. 8 court proceedings information the period of 5 years that starts on the day on which the judgement to which the information relates is made or given. 9 information of a kind referred to in paragraph 6N(l) the period of 7 years that starts on the day on which the credit reporting body collects the information.