Check whether a missed payment may be shown on a repayment history
Key facts
- Human involvement
- YellowClose supervision
- How AI is used
- From the due date and the payment date the lawyer supplies, mark whether the payment was made more than 14 days after the due date. The page says that is when a payment is missed. Record that a credit provider can list whether payments were made on time or missed, that the report shows a number from 0 to 7 for the age in months of the oldest missed payment, and that the page says no written notice is required before a missed payment is listed. Record the separate statement on the same page that repayment-history information remains for 2 years, and that financial hardship information recorded against it remains for one year. Do not use this task to classify a default. The default gates are a separate check. The tool does not choose the 0-to-7 code and does not send the listing.
- What the lawyer must review
- The lawyer decides whether the payment was missed and which code applies, and any listing that is sent.
- Written for / version
- US
Open a jurisdiction version of this task to see which instruments apply: US
Who does what
| Role | What they do |
|---|---|
| Assistance | From the due date and the payment date the lawyer supplies, mark whether the payment was made more than 14 days after the due date. The page says that is when a payment is missed. Record that a credit provider can list whether payments were made on time or missed, that the report shows a number from 0 to 7 for the age in months of the oldest missed payment, and that the page says no written notice is required before a missed payment is listed. Record the separate statement on the same page that repayment-history information remains for 2 years, and that financial hardship information recorded against it remains for one year. Do not use this task to classify a default. The default gates are a separate check. The tool does not choose the 0-to-7 code and does not send the listing. |
| Lawyer | Set the scope, supervise the work closely, verify every part relied on, resolve omissions and exceptions, and approve the exact output. |
Checklist
- Count 14 days from the due date the lawyer supplies. A payment on or before that day is not a missed payment on this page.
- State that the page does not require a written notice before a missed payment is listed.
- Do not apply the default gates, and do not choose the number from 0 to 7.
Sources
- OAIC: Repayment history and defaults · 2026-10-22
These are suggested working checks. Confirm the required checking with the responsible lawyer before work starts; the checking approach does not establish permission to use AI.