Australia’s credit reporting system has evolved and so have we. Ume Loans now fully participates in Comprehensive Credit Reporting (CCR), which means we securely share more detailed and up‑to‑date information with major Credit Reporting Bodies such as Equifax, Illion, and Experian. This enhanced level of reporting helps create a fairer and more accurate picture of your credit behaviour.
Before CCR, credit reports focused primarily on negative events like defaults, bankruptcies, or credit applications.
CCR now includes a wider range of positive and behavioural information, including:
Since your repayment history is now shown on your credit file, consistent, on‑time repayments can positively impact your credit score.
Ume Loans supplies CCR information for all loan types, including:
It’s important to know that if you’re ever at risk of falling behind on your repayments, contacting us early can help avoid negative entries on your credit report.
Additional information you may now see on your credit report includes:
This provides lenders with a clearer and more current view of your financial situation.
If a hardship arrangement is approved, Financial Hardship Information (FHI) is recorded under CCR. This does not disclose your personal circumstances; it only indicates that assistance was provided to support you during a challenging period.
CCR gives you a real opportunity to build or rebuild your credit profile. To make the most of it:
We will provide the following information to Credit Reporting Bodies (CRBs):
We provide a 14-day grace period for all accounts. This means that if a payment is due on a weekend, or you are a few days late, and your account is otherwise in good standing, it will not be marked as overdue.
However, if a payment is more than 14 days overdue, this will be reported to the Credit Reporting Bodies (CRBs). The longer the overdue period, the greater the potential adverse impact on your credit score.
Effective March 2025, we will commence the collection of data for reporting to Credit Reporting Bodies (CRBs). This information will be submitted to Equifax and Illion on a monthly basis, starting April 2025, to ensure that your credit history remains accurate, complete, and up to date. Data will be transmitted to the Credit Reporting Bodies at the beginning of each month, reflecting the reporting period for the preceding month.
The credit reporting system is regulated by the Privacy Act and the Privacy (Credit Reporting) Code. We fully comply with all legal requirements for the collection and disclosure of customers’ personal information. For more details, please refer to our Privacy Policy available here.
When you apply for credit or a service contract, credit providers—such as lenders and utility companies—may request access to your credit report with your consent. Reviewing your credit file is a common step in their assessment process.
