Commonly asked questions and answers on credit in New Zealand (NZ)

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Where can I get a copy of my credit file in New Zealand?

Veda Advantage Ltd is New Zealand's main agency of credit reporting information. This report can be requested free of charge by visiting the website ( http://www.mycreditfile.co.nz ).


What is on my credit file in New Zealand?

Information that is listed on your credit profile in New Zealand includes the following:

a) Full name
b) Last reported and previous addresses
c) Date of birth
d) Occupation
e) Employer
f) Company directorships (if any)
g) Who has made credit enquiries and when
h) Records of payment defaults (overdue accounts) (if any)
i) District and High Court judgments (if any)
j) Bankruptcy listings (if any)
k) Records of any ID you have reported lost or stolen
l) Collections data (if any)
m) Collection Agency defaults (if any).

Note: Negative Information can be listed on your credit report if:

a) The account has been overdue for 30 days or longer
b) The credit provider has written the account off because of default
c) The creditor has referred the account to a solicitor, collection agency or repossession agency because of payment default .

How long is the information held in my credit file In New Zealand?

a) Payment defaults and collections (overdue accounts) are held on your file for five years
b) Bankruptcy notices is held on your file for seven years
c) Credit applications and Previous Enquiries are held on your file for five years
d) Court judgments are held for five years
e) Subject details, which include name, date of birth, gender, and address history, are held for the life of the credit file. This information is used to distinguish the credit file from others held in the database.

Note: Even when a payment default has been brought up to date or paid in full, it will not be removed from your credit file. All payment defaults remain on file for five years from the date of listing.



How can I report and fix inaccurate information listed on my credit report in New Zealand?

Your credit records are accessible to others to assess credit ratings. So the information stored is required, under the Privacy Act 1993, to be accurate. Information that is not accurate must be removed. You can make a written application to the agency carrying the incorrect information for it to be removed. The agency must comply with this request. If they do not comply you may make a complaint to the office of the Privacy Commissioner by visiting ( http://www.privacy.org.nz/contact-us/ ).


To request a correction or investigation into the content of your credit file in New Zealand with the credit agency Veda Advantage Ltd, please refer to the following steps listed below or for more information and help with this matter, please visit ( http://www.mycreditfile.co.nz ).

Prepare your request in writing with the following information:

a) Your full name and address
b) The enquiry number that appears on the top of your credit file
c) Full details of the corrections or investigation you are requesting
d) Any relevant information and documentation to support your request.

Then mail this request to:

Public Access, Information Services & Solutions (NZ)
Veda Advantage (NZ) Limited
Private Bag 92156
Victoria Street
Auckland

Note: If a entry made by a subscriber or collection agent is incorrect, first contact the subscriber or collection agent named on that entry for further information about the accuracy of that entry. Then, if you are not satisfied with the response of the subscriber or collection agent, make your request for correction or investigation in writing to the above address.

If you are requesting a correction or investigation into an entry of public record information such as a bankruptcy, public notice, court judgment or directorship, then you must verify the information with the source and provide satisfactory documentation of the verified information to the above address.

If you feel that information on your credit file has been caused by fraudulent activity using your identity then you should report the matter to the police and to the fraud department of each of the subscribers involved.

If I live in New Zealand and have no credit or bad credit history, how can I establish and/or re-establish my credit rating?

1) First, obtain a copy of your credit report and verify the accuracy of the report.
2) Then, if any inaccuracies exist, dispute them.
3) Pay off all debts that are past due or make payment arrangements to pay them over time.
4) Obtain a credit card or some other type of loan, and make timely payments to help rebuild your credit. If you cannot get approved for a credit card or loan because of no credit or bad credit, apply for a secured credit card.

I live in New Zealand and feel I am being unfairly harassed by debt collectors?

If you feel you are being unlawfully harassed by debt collectors with phones calls and/or letters that may be associated with threats or violence, then you may want contact and report the issue to The New Zealand Commerce Department with your complaint at ( http://www.comcom.govt.nz/Inquiries/contactus.aspx ) so they may further assist you with this matter.

What is the Statute Of Limitations on unpaid or old debt in New Zealand?

The general rule of the Limitation Act Of 1950 in New Zealand is 6 years. This Act can be viewed at ( http://www.legislation.govt.nz/act/public/1950/0065/latest/whole.html ).

Learn about applying for a Hardship Application In New Zealand to help with debt due to unforeseen circumstances.

Learn your rights on Repossessions On Cars And Goods in New Zealand.

Although all information has been written in good faith and reviewed, please email us at help@consumerbadcreditguide.com to report any inaccuracies.