Accounts are: leases, levy accounts or other accounts.
Each account is reported individually and is titled as a lease, levy or account. Importantly the suppliers details and contact information is listed to enable our Customers to communicate with each other regarding the listed information.
Information includes the date the account was opened, the current term of the account and the monthly repayment
Each account (lease, levy or other account) includes some or all of the below information:
| AD – Account Details | Balance data and Outstanding balance
- Indicates the last date we received information and what the outstanding balance is.
- This is particularly useful if the account shows a history of partially or non-payments - as the total value of all those partial or non-payments is determinable
Last Payment Date and Amount Paid
- Indicates the date the last payment was made on this account and what that amount was
- This information is particularly useful
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| PP – Payment Profile | Payment profile information is a month-by-month indication of how the account is paid. An invoiced must be raised for the month and the payment profile flag relates to the statement balance due:
There are 5 payment profile flags
- POT – Paid on Time and in full
- GP – Grace Payment and in full (2nd to 7th)
- PL – Paid Late and in full (before the end of the month)
- PP – Partially Paid, there is still a balance outstanding
- DNP – Did not pay, an invoice was raised but no payment was made in the month
Important Considerations: Payment Profile has a 5 year retention period and does not require prior notice to the tenant before update. It must be a factual account of how the account is paid.
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| D - Default | Defaults are listed by members of the credit bureaus. Defaults are retained on the credit bureau for 1 or 2 years (depending on the nature of the default). If a default has been settled by the individual, this “paid-up” status will be noted in the remarks. |
| R - Recommendation | TPN members have the ability to provide a positive recommendation about one of their tenants, to alert other landlords / estate agents to a quality tenant. |