Difference between revisions of "Introduction to Debtors' Options (10:IV)"

Introduction to Debtors' Options (10:IV) (view source)

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 The ''Business Practices and Consumer Protection Act'' regulates the activities of the credit bureaus in order to minimize unfair treatment of the party seeking credit. Federal legislation, such as the ''Personal Information Protection and Electronic Documents Act'', SC 2000, c 5 [''PIPEDA''] and  the ''Privacy Act'', RSC 1985, c P-21 also outline the requirements for organizations in their use, collection, and disclosure of personal information in their business practices. Credit information that these bureaus can disclose is the most common type of personal information, and includes one’s:
-*a) name, date of birth and address;
+:a) name, date of birth and address;
-*b) current and former marital status;
+:b) current and former marital status;
-*c) current and former place of work;
+:c) current and former place of work;
-*d) payment habits; and
+:d) payment habits; and
-*e) debts owing.
+:e) debts owing.
 '''A credit reporting agency cannot give out an individual’s personal credit report without that individual’s consent.''' When one seeks credit, they will be asked to consent to the lender obtaining a credit report or a credit check. (After consent is given, the lender can  obtain a “soft check” periodically meaning they can view the report relating to their loans).