10. Credit (CRA Report) Events

CRA Information

Credit Enquiries

Query result of any credit enquiry within 12 months of the application date, that isn’t a Bluestone enquiry, Telecommunication or declared liability.

Defaults, Judgements, Court Actions

Document the circumstances surrounding any credit events. Underwriters may request these to be paid out as part of our transaction.

Bankruptcy:

Check status as to when this was discharged.

If the status does not show as discharged, but the applicant advises it is settled, then we require a copy of  the Bankruptcy Discharge Notice to evidence this.

Part 9/10:  A debt agreement is a binding agreement between and individual and creditors and falls under Part IX of the Bankruptcy Act 1966. Part X (Part 10) of the Bankruptcy Act allows a debtor to enter into an arrangement with their creditors to satisfy their debts without being made bankrupt.

Check the status to determine when this was discharged (then refer to Credit Impairment table). If active, this must be paid out in full, with confirmation in writing from the administrator/creditor that the matter will be finalised at settlement. Statements will be required to determine conduct for the Part 9/10 agreement.

Potential Matches

These refer to other credit files that potentially match the profile of the current CRA report, as at least one identifier matches the other file (e.g. address, name/dob combination). Investigate these.

Directorships/Proprietorships

Confirm trading status of any of these attributed to our applicant(s) that aren’t being used for income.