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Court actions are a record of any action taken by the court such as a writ or summon that is related to an outstanding debt.

Court data is provided to Equifax daily, weekly and monthly and this is then updated directly into the bureau.  It is the responsibility of the courts to provide us with this data while ensuring that this information is kept accurate, up to date and complete.

Not all businesses will have invoice payment history details. Equifax collects data from a range of different data points and will provide this information in the report whenever it is available.

Data is supplied by subscribers to Debtor IQ, Equifax portfolio management and trade payment platform.

Days beyond terms are an average of the amount of days the subject of the report is past due on its invoices to all creditors who are contributors to Equifax trade payment programme, Debtor IQ.

There is also an average of the late payment days of all industries across the entire Debtor IQ database.

Every time you apply for credit and a credit provider obtains a copy of your report, an enquiry is added to your credit report. This includes any loan, mortgage or utilities applications you may make.

Credit providers may take a negative view of a relatively high number of enquiries made in a short space of time, which may in turn affect your ability to obtain credit.

You can only have a default removed if it was listed in error. A default will remain on a credit report for five years.

 If a default is paid, the status will be updated to ‘paid’ however it cannot be removed.

Commercial credit defaults stay on your credit report for five years even when you have paid the overdue amount.

The status of the default is updated to paid which can be looked upon more favourably by lenders but it will remain as part of your credit history.

A commercial credit default is an overdue debt of $100 or more that has exceeded the agreed payment date.

Before listing commercial defaults or overdue debts, commercial credit providers or their agents must send a notice to your last known address stating their intention to list the default amount with a credit reporting body such as Equifax.

ASIC data will be refreshed in a SwiftCheck report every time that a new report is ordered. You can check the status of this by looking at File Update Notices in the report.

Director information on other businesses run by that director will not be updated every time and will only be updated when a report is purchased directly on that business.