Credit Reporters Privacy Code 2004
...specific rules to credit reporters to better ensure the protection of individual privacy.
The code addresses the credit information collected, held, used, and disclosed by credit reporters. For credit reporters the code takes the place of the information privacy principles.
Warning: This is only a generalised summary. If there is a difference between this summary and a provision of the Code or Act, the Code or Act prevails.
To view or download The Credit Reporting Privacy Code 2004 with commentary and amendments as a PDF file click here: Privacy Commissioner's web site.
Rule 9: Retention of Credit Information
(1) A credit reporter that holds credit information must not keep that information for longer than is required for the purposes for which the information may lawfully be used.
(2) It will be sufficient compliance with subrule (1) if a credit reporter holds credit information of the types specified in column 1 of Schedule 1 for no longer than the permitted period set out in column 2 for that type.
(3) A credit reporter must display on the credit reporter's website a statement of the retention periods applicable to each type of information specified in Schedule 1.
(4) This rule applies to credit information held by a credit reporter that was obtained before or after the commencement of this rule. Note: An action is not in breach of this rule if it is authorised or required by or under law - Privacy Act, s.7(4).
Schedule 1: Retention Periods (Rule 9 (2))
| Types of Credit Information | Retention period |
| Lost, stolen or compromised identification documents information |
5 years from date of report |
| Credit application information | 5 years from date of application |
| Credit account information (other than repayment history information) |
2 years from date credit account closed |
| Repayment history information | 2 years from month following due date of periodic payment |
| Credit default information relating to debtor credit default | 5 years from date of default |
| Credit default information relating to guarantor credit default | 5 years from date of notification of debtor’s default to guarantor |
| Serious credit infringement information | 5 years from date of report |
| Credit non-compliance action information | 6 months from date of action |
| Confirmed credit non-compliance action information | 5 years from date of action |
| Judgments | 5 years from date of judgment |
| Single bankruptcy | 4 years from date of discharge from bankruptcy |
| Single entry to no asset procedure | 4 years from date of discharge from the no asset procedure |
| Multiple insolvency events (as provided in Insolvency Act 2006, s.449A) |
Indefinite |
| Summary instalment orders | 5 years from date of order |
| Previous enquiry record | 5 years from date of enquiry |
| Credit Score | 2 working days from date of creation |
Related Topics:
Related topics
Summary of Rights
Your rights under the credit reporting privacy code 2004.
Accessing Your Data File
Find out how to access, view and / or change your data (credit) file.
Complaints Procedure
What to do if you believe that you have been unfairly rated by a Shark Patrol Member.
Report a Member
What to do if you believe that a member has abused access to the database in some way.
Code of Ethics
Shark Patrol's Code of Ethics are in addition to the Terms of use and Privacy Policy.
Privacy Act
The Privacy Act has as one of its main purposes the promotion and protection of individual privacy.
Contact Information
Telehone: 0800 667 427
Facsimile: 09 418 5185
Skype: shark-spotterAddress: P.O.Box 340 222,
North Shore City, Auckland 0746Or email us via our contact page
