Credit bureaus collect information from a variety of sources in order to profile an individual’s or a company’s credit worthiness. Information collected typically includes current and previous loans. In Canada, credit bureaus are operated by private companies, such as Equifax and TransUnion.
Unlike a Personal Property Registry, the credit bureau is not an official, public record of a security interest in property (collateral).
PPRS does not provide information about past (inactive) loans, unsecured loans or the borrower’s history of payments.