Bad Credit Reports: What Can You Do?
If you, like many New Zealander’s have found yourself in a situation where your credit report is negative, then your credit ranking will be in trouble. If you have done all you can to check that your credit report is accurate, then the only thing that will repair your credit report is going to be time, and effort. But your credit report can be repaired.
A consumer reporting company can report most accurate negative information for seven years and bankruptcy information for 10 years. Information about an unpaid judgment against you can be reported for seven years or until the statute of limitations runs out, whichever is longer. There is a standard method for calculating the seven-year reporting period. Generally, the period runs from the date that the event took place.
Your credit file or credit report may not reflect all your credit accounts. Most national department store and all-purpose bank credit card accounts are included in your file, but not all. Some travel, entertainment, petrol card companies, local retailers, and credit unions are among those that usually aren’t included.