FinSecure Finance Pty Ltd ABN 63 643 564 505 and its related companies in Australia (“we/us/ our”) have included our credit reporting disclosures to you in our loan application form. We have further published this Credit Reporting Policy and Statement of Notifiable Matters to give you additional information about:

  • How we collect, manage, use and share your credit-related information How you can access and correct your credit information
  • Other relevant details concerning your privacy.

Our Privacy Policy separately describes how we collect, use, disclose and manage other types of personal information.

Collecting and holding your Information

We collect and hold information about you that:

  • Helps us identify you
  • Is relevant to providing you with the products and services you seek from us
  • Helps us assess your financial position and creditworthiness if you are seeking credit products and services from us.

The information we collect include credit information, credit-eligibility information, Credit Reporting Body derived information and Credit Provider derived information as defined in the Privacy Act 1988 (Cth).

Credit-related information includes some or all information related to your financial position such as credit that have been provided to you, or that you have applied for, which may affect your creditworthiness and which we may use in our decision to approve or reject your application for credit. Credit-related information includes credit information, credit eligibility information, credit reporting body derived information and Credit Provider derived information.

Credit information is the information we may collect from or give to credit reporting bodies such as those set out in this document. This information includes:

  • your identity
  • the fact that you have applied for credit, the type of credit, terms and maximum amount of credit provided to you, including when the credit was provided and repaid
  • repayment history information, financial hardship information (including information that any repayments were in financial hardship arrangement) and default information (including overdue payments)
  • payment information
  • new arrangement information (including the arrangements you have entered into with us in relation to consumer credit where you have been overdue in making a payment)
  • details of any serious credit infringements
  • court proceedings information
  • personal insolvency information
  • publicly available information such as bankruptcy, insolvency and credit-related court judgements
  • publicly available information that relates to your activities in Australia and your credit worthiness (other than court proceedings information or information that you are entered or recorded on the National Personal Insolvency Index)

Credit eligibility information is information that credit reporting bodies give us and any information we derive from it, such as:

  • a credit score provided by a credit reporting body
  • default information
  • repayment history information credit inquiries
  • court proceedings information
  • personal insolvency information
  • information associated with your overall credit worthiness

Credit Provider derived information is information that we derive about your creditworthiness such as credit score or risk profile using information disclosed to us by credit reporting bodies.

Collection method

We may collect credit-related information about you through the following methods:

  • Directly from you through our application forms, via email, through a telephone conversation with you, in person, or via our website
  • Information shared with us by credit reporting bodies
  • Information shared with us by third parties acting on your behalf (such as financial advisors)
  • Information shared with us by third parties under your instructions (such as mortgage brokers and licensed mortgage referrers)
  • Information from credit reporting bodies
  • Information from other credit providers
  • Information shared with us by related entities

If we receive unsolicited information about you that we did not request or which is not directly related to our functions, we may be required to destroy or de-identify that information if it is lawful and reasonable to do so.

Purpose of collection

We collect and use your credit-related information for the following purposes:

  • Assessing your financial position and whether we wish to provide you with products and services
  • Providing you with credit
  • Securitisation-related purposes
  • Internal management purposes that are directly related to the credit facility we offer to you and may include: o Settlement of your credit facility
    • Management of your credit accounts held with us
    • Post-settlement account management activities such as assisting you with financial hardship arrangements or credit default management
  • Assigning our debt to another party
  • Participation in the credit reporting system
  • Dealing with complaints or regulatory matters relating to credit or credit reporting
  • Where we reasonably believe that you have committed a serious credit infringement
  • Where otherwise required or permitted by law

Failure to provide information

If the credit-related information you provide to us is incomplete or inaccurate, we will be unable to assess your application for a credit facility and therefore we may be unable to provide you with the goods and services you seek.

Use and disclosure of your information

Our use and disclosure of credit-related information is governed by Part IIIA of the Privacy Act and the Credit Reporting Code.

We may use and disclose your credit-related information for the purposes set out in this Policy. We may disclose credit-related information about you to:

  • Other financiers or credit providers
  • Finance brokers, funders, mortgage managers and other people who assist us to provide our products and services to you
  • Any person who represents you, including financial consultants, accountants, lawyers, mortgage brokers, persons holding power of attorney, guardians and advisers
  • Industry bodies, government authorities, enforcement bodies, tribunals and courts
  • Investors, advisers, trustees, ratings agencies and other business assisting us with funding
  • Any person where we are authorised or required to do so by law
  • Businesses who provide us with services or systems
  • Insurers, valuers and debt collection agencies
  • Persons who are, or likely to be, co-borrowers with you or to guarantee your loan
  • Any person to whom you expressly consent us to share information with
  • Any of our related entities or associates
  • Our agents, contractors or service providers that we engage to carry out our functions and activities
  • Your referees and your employer
  • Organisations that provide identity verification services or assist us to verify your identity
  • Organisations or service providers (including providers of screening solutions) that assist us with identification, prevention investigation of fraud, unlawful activity or misconduct
  • Any person considering acquiring an interest in our business or assets
  • Associated businesses that may want to market products to you
  • Credit reporting bodies, including those whose details are set out below
  • Third parties for securitisation purposes External dispute resolution scheme providers • As otherwise permitted and required by law.

The credit reporting bodies we may disclose your credit-related information to are:

Equifax Pty Limited

Contact: 13 83 32

Website: www.equifax.com.au

Experian Australia Credit Services Pty Limited

Contact: 1300 783 684

Website:www.experian.com.au

 

Illion (Australia) Pty Limited

Contact: 1300 783 684

Website: www.illion.com.au

Statement of Notifiable Matters

Under the Credit Reporting Privacy Code, there are several ‘notifiable matters’ that we are required to disclose to you at or before the time of collecting personal information that is likely to be disclosed to a credit reporting body.

Those matters are:

  • We may give information about you to and receive information about you from credit reporting bodies that include your credit worthiness.
  • The credit reporting body may include the credit information we provide to it in reports, which it then provides to other credit providers to assist those other credit providers to assess your credit worthiness
  • The information we provide to credit reporting bodies may include information that you have applied for credit with us and information about credit facilities we provide to you. If you do not pay for the products and services that we provide to you, if you commit fraud or try to do so, or if you otherwise commit a serious credit infringement, we may disclose this information to the credit reporting body. This may affect your ability to obtain credit in the future.
  • You may request a copy of this Credit Reporting Policy and Statement of Notifiable Matters by contacting us or obtain it directly from our website.
  • You may request a copy of the credit reporting policy from each respective credit reporting body by contacting them directly or obtaining it from their website.
  • You have the right to access credit information we hold about you, request that we correct the information, and make a complaint, as set out further in the remainder of this Credit Reporting Policy.
  • You may contact a credit reporting body directly to request that it does not:
    • use your credit reporting information for the purposes of pre-screening of direct marketing; or
    • disclose your credit reporting information if you reasonably believe that you have been, or are likely to be, a victim of fraud.

Overseas disclosures

We, our insurers and the businesses we disclose your information to may disclose this information to businesses located overseas such as Nepal, Hong Kong, China, the Philippines, Malaysia, Singapore, the United Kingdom, Germany, Canada, the United States of America and mainland China.

Overseas entities may be required to disclose this information to relevant foreign authorities under a foreign law. While we attempt to select and secure reputable offshore service providers, we are not liable for any breach or misuse of information sent offshore. An overseas entity may not have the same protection as under the Australian privacy law. You may not be able to seek redress for any breach of your privacy which occurs outside Australia.

Security of information

We store your credit-related information in different ways, including in paper and in electronic form. The security of your information is important to us. We take all reasonable measures to ensure that your information is stored safely to protect it from interference, misuse, loss, unauthorised access, modification or disclosure, including electronic and physical security measures.

Where information we hold is no longer necessary, we delete the information or permanently de-identify it, subject to specific laws in respect of data retention.

Access and correction of information

Access

You may access the credit-related information we hold about you by making a written request. We will respond to your request within a reasonable period. Except where prohibited by the Privacy Act or the Credit Reporting Code, we may charge you a reasonable fee for processing your request (but not for making the request for access).

We may decline a request for access to information in circumstances prescribed by the Privacy Act (including if we cannot substantiate your identity and entitlement to the information), and if we do, we will give you a written notice that sets out the reasons for the refusal (unless it would be unreasonable to provide those reasons), including details of the mechanisms available to you to make a complaint.

To ensure you have access to the most up-to-date information, when making a request to access credit-information, you should also request access to credit reporting information held by credit reporting bodies.

Correction

You can ask us to correct your credit-related information.  If we are satisfied that your information is inaccurate, out of date, incomplete, irrelevant or misleading, we will take reasonable steps to update your information within 30 days (or such longer period you agree to in writing) and will provide written notice of that correction.

If we form the view that we will not be able to resolve your correction request within the 30-day time period, we will write to you seeking an extension of time, or notify you of our reasons for refusal to make the requested correction (unless it would be unreasonable to provide those reasons) and advise you of the mechanism available to you to make a complaint.

Complaints and feedback

If you have any queries or concerns about our credit reporting policy or the way we handle your credit-related information, or you wish to make a complaint about a breach of the Privacy Act, the APPs, or the Credit Reporting Code, please contact us using the details below and we will take reasonable steps to investigate your complaint in accordance with our dispute resolution process.

Email: complaints@finsecure.au

Telephone: 1300 346 732

Address: PO Box 3122, Wareemba, NSW 2046

If after this process you are not satisfied with our response, you can submit a complaint to the Office of the Australian Information Commissioner. To lodge a complaint, visit the ‘Complaints’ section on the website, located at http://www.oaic.gov.au/privacy/privacy-complaints, to obtain the relevant complaint forms, or contact the Privacy Commissioner’s office.

Alternatively, if an issue has not been resolved to your satisfaction, you may also contact the external dispute resolution scheme of which we are a member, Australian Financial Complaints Authority (AFCA). AFCA provides fair and independent financial services complaint resolution that is free to consumers but recommends that you raise your concerns with us before you do so with them. AFCA’s contact details are as follows:

Website: www.afca.org.au

Email: info@afca.org.au

Telephone: 1800 931 678 (free call)

In Writing: Australian Financial Complaints Authority, GPO Box 3, Melbourne VIC 3001