This is Why We Require Accurate Data From Creditors

A Letter From TransUnion to Priority Credit Recovery:

TransUnion is committed to providing complete, accurate, and up-to-date credit information to our customers.

In keeping with our policy to maintain the highest standards of collection data, we would like to bring to your attention that TransUnion has made a slight change to its policy pertaining to Collections on Rent Arrears.

Currently, our Data Reporting Requirements document states that a judgment is always required when reporting rental arrears.

Effective immediately, TransUnion will accept rental arrears as a collection without a judgment as long as there is a lease and the amount owed can be calculated from the lease. Please be advised that non-liquated debts such as damage carpets cannot be reported without a judgment.

TransUnion is highly dependent on data suppliers to provide quality information to allow it to maintain a database of the highest quality in the industry, with accurate and reliable information. Therefore, whenever possible, you must provide full identifying information when reporting your data to TransUnion. By providing this information to us, you enhance the integrity of our database. By “full identifying information”, we mean the following:

• Complete first and last name
• Complete middle name, where available
• Any generational designators (such as Jr., Sr., or III)
• Complete date of birth
• Complete address (including unit numbers and postal code)
• Complete phone number, including area code
• Social insurance numbers are also acceptable however must be optional for the consumer to supply

TransUnion needs to ensure that customers adopt appropriate practices to comply with provincial credit reporting and privacy legislation. In consideration of these requirements, you must:

• Ensure there is a document in place that validates the existence of the debt with the consumer; for example, an agreement, a promissory note or a judgment.
• Report an accurate Date of First Delinquency. You must provide the date when the account went delinquent for the first time without going back to a current/good status. When reporting collection information, this date must reflect the date when the account first went delinquent with the original creditor and not the date the account was transferred or assigned for collections.

These collection items will NOT be uploaded to the TransUnion database:

Collections
• Collections under $50.00
• Parking Fines
• Road Tolls
• Rental arrears without a judgment for unliquidated debts. (Rental arrears that relate to a lease/rental agreement will be accepted provided that the amount owed can be calculated from the lease/rental agreement.
• Non-liquidated debts
• Collections that do not have the original Date of First Delinquency supplied by Creditor
• Debts that cannot be validated by a document evidencing the debt with the consumer (for example, an agreement, a promissory note or a judgment)

Note: Collection items will only be accepted from a licensed collection agency.