You must only supply us with default information on credit account defaults of $125 or more. These are accounts where credit has been given (such as loans, or where goods or services have been provided before payment). The debt must not be disputed. In addition, there are a number of other Code requirements that must be met before you list the default information with us:
- The debt must be overdue by at least 30 days.
- You must have told the person in default and asked them to pay the amount.
- If the debtor is a guarantor, at least 30 days must have passed since your notification to them to pay the debt.
- You must have taken additional steps to recover the debt (such as a further notice, referral to a debt collector or a solicitor).
- You must not be prevented by or under any law from bringing proceedings to recover the debt.