Notice of Correction (NOC)
A Notice of Correction is an explanatory statement that an individual can add to their credit report. It is attached to an item of data and is usually used to explain circumstances surrounding an entry on the report. Once the statement is added it will be seen by any company who makes a search or your credit report.
Official Receiver
An Official Receiver is responsible for the administration of a bankruptcy.
Open Account
An account that is still active or still being paid.
Order of Discharge
The terms of a bankruptcy have been met and the bankruptcy has ended.
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