- Introduction to credit reporting
- Your rights
- Things to watch out for
- FAQs and other resources
- Resources for Customer Consultants
- About Credit Smart
The Australian Government has put in place privacy protections and controls for information in the credit reporting system through the Privacy Act. You have rights under these laws, and credit providers, credit reporting bodies and other organisations that are permitted to exchange and handle credit information are subject to specific obligations.
The credit reporting system includes the following new safeguards for consumers:
- Getting a free credit report
- What to check on your credit report
- Ban periods for identity theft
- Dispute resolution
- Hardship assistance
Beware of credit repair agencies who often charge large upfront fees to provide services you can do yourself, free of charge, or require you to pay for 'guaranteed outcomes' that are false. If you need free assistance, you can contact your credit provider , the credit reporting body , a financial counsellor or community legal centre, or your credit provider’s Ombudsman scheme.
Significant fines for misuse or unauthorised disclosure
Organisations that misuse or disclose your credit information without authorisation will risk significant penalties under the Privacy Act. They also risk being fined if they don’t keep adequate records of how they used your information or who they disclosed it to.