Credit Reporting Policy
1 Collection of credit information
1.1 We may collect and hold any types of credit information about an individual permitted under the Privacy Act, including:
(a) your name, sex, date of birth, current address and previous two addresses;
(b) the name of your employer;
(c) your driver’s licence number;
(d) the fact that you have applied for credit and the amount and type of credit;
(e) credit limits;
(f) certain terms relating to credit arrangements;
(g) confirmation of previous information requests to credit reporting bodies made by other credit providers, mortgage insurers and trade insurers;
(h) details of your current and previous credit providers;
(i) start and end dates of credit arrangements;
(j) permitted payment default information, including information about related payment arrangements and subsequent repayment;
(k) information that, in our or another credit provider’s opinion, suggests you have committed a serious credit infringement (that is, that you have acted fraudulently or shown an intention not to comply with your credit obligations);
(l) information about court judgments against you;
(m) publicly available information about your credit worthiness;
(n) certain insolvency information from the National Personal Insolvency Index; and
(o) any credit score or credit risk assessment indicating a credit reporting body’s or credit provider's analysis of your eligibility for consumer credit.
1.2 This information may include information about your arrangements and applications with other credit providers as well as with us.
1.3 Where we collect credit information about you from a credit reporting body, we may use that information to produce our own assessments and ratings in respect of your credit worthiness.
1.4 This information is collected in a variety of ways, including by way of personal contact, as well as mail, telephone, email and online. We may also collect and use personal information available from related entities (as that term is defined by
the Corporations Act 2001),public sources, and from other third party sources including our service providers such as credit reporting bodies and information service providers.
2 Use and disclosure of credit information
2.1 In general, we collect, hold, use and disclose credit information to:
(a) provide our products and services to Clients;
(b) manage credit arrangements;
(c) collect overdue payments;
(d) verify your identity and personal information;
(e) maintain and update our records and carry out other administrative tasks;
(f) deal with and assess your applications, enquiries and concerns (including in relation to financial hardship);
(g) produce assessments and ratings in respect of your credit worthiness;
(h) prevent, detect, investigate and deal with unlawful activity and misconduct (whether actual or suspected); and
(i) comply with legal obligations and protect our lawful interests.
2.2 We may also use and disclose your credit information in connection with acquisitions or potential acquisitions of our business or assets, including any sale of debt.
2.3 We may exchange credit information with:
(a) service providers and specialist advisers who have been contracted to provide administrative, financial, research, archival, auditing, accounting, customer contact, credit management, debt collection, legal, business consulting, banking, payment, delivery, data processing, data analysis, information broking, research, marketing, investigation, website, technology or other services;
(b) insurers, lawyers, courts, tribunals and regulatory authorities (including the Australian Tax Office) as required or authorized by law or in accordance with their reasonable information requests;
(c) insurance investigators;
(d) debt buyers;
(e) related entities;
(f) your guarantors, representatives and anyone else authorised by you, as
specified by you or the contract.
2.4 The third parties described above may be located in or out of Australia
3 Credit reporting bodies
3.1 We may exchange credit information with credit reporting bodies to, where permitted by law:
(a) assist those bodies to maintain information about you to provide to other credit providers for credit assessments;
(b) assess an application by you for consumer credit or commercial credit, or to be a guarantor;
(c) manage your credit;
(d) review your creditworthiness on a periodic basis or in connection with changes (e.g. credit limit) as though assessing a new application;
(e) collect overdue payments; and
(f) create assessments and ratings of your creditworthiness.
3.2 The credit reporting bodies we use may include:
• Veda, PO Box 964 North Sydney 2059, www.mycreditfile.com.au, 1300 762 207
• Dun & Bradstreet, Level 7, 479 St. Kilda Road Melbourne 3004, www.dnb.com.au, firstname.lastname@example.org, 1300 734 806
• Experian, GPO Box 1969, North Sydney NSW 2060, www.experian.com.au, 1300 784 13
3.3 You can contact those credit reporting bodies or visit their websites to see their policies on the management of credit information, including details of how to access your credit information they hold.
3.4 From 12 March 2014, you have the right to request credit reporting bodies not to:
• use your credit information to determine your eligibility to receive direct marketing from credit providers; and
• use or disclose your credit information, if you have been or are likely to be a victim of fraud.
4 Management of credit information
4.1 We hold credit information electronically and in hard copy form, both at our own premises and with the assistance of our service providers. We implement a range of measures to protect the security of that information. We are also required to take reasonable steps to destroy or de-identify information when no longer needed for any permitted purpose.
5 Accessing your credit information
5.1 Under privacy laws, you may have the right to obtain access to credit information which we hold about you and to advise us of any perceived inaccuracy. We will consider any recommendation by you to change or correct information and advise you of the action taken. You may request to access your credit information by contacting us by a method set out in Section 7 of this Policy. Depending upon the information you seek, you may be asked:
(a) to complete an Information Request Form;
(b) to verify your identity in writing; and/or
(c) if the inquiry involves extensive administration time or resources, to pay a fee. If this is the case, we will advise the likely cost in advance and can help refine your request if required.
5.2 Please note that in circumstances prescribed by the Privacy Act, you may be refused access to or correction of your credit information (for example, if providing access would be unlawful or would have an unreasonable impact upon the privacy of
other individuals). In these circumstances we are required to provide you our reasons and if you request, make a note of your requested correction with the relevant information.
6 Complaints about an interference with privacy
6.1 If you consider that any action taken by us breaches this Credit Reporting Policy or privacy laws, you can make a complaint by contacting us by a method set out in Section 7 of this Policy. We will endeavour to act promptly in response to a complaint.
6.2 If your privacy concerns are not resolved to your satisfaction, you may contact the Office of the Australian Information Commissioner at www.oaic.gov.au and on 1300 363 992.
7 How to contact us
7.1 You can contact us about a privacy-related issue
8 Updates to this policy
8.1 Our Credit Reporting Policy will be reviewed from time to time to take account of new laws and technology, changes to our operations and practices and the changing business environment.