Credit Reporting Policy

CREDIT REPORTING POLICY GENERAL

We respect your privacy and are committed to protecting it. We are bound by the Privacy Act 1988 and the Privacy (Credit Reporting) Code 2014 (Version 1.2) (the CR Code).

Our Credit Reporting Policy applies to:

  • Lion Finance Pty Ltd (as an acquirer and credit provider); and
  • Cashflow Financial Advantage Pty Ltd (in processing an application for credit).

PURPOSE

The purpose of our Credit Reporting Policy is to inform you about how we manage your credit information and credit eligibility information.

CREDIT INFORMATION AND CREDIT ELIGIBILITY INFORMATION

“Credit information” includes personal information such as:

  • identification information such as your name, address, date of birth and employer.
  • consumer credit liability information which is information about your consumer credit accounts.
  • repayment history information which is information about whether or not you made your monthly repayments on time.
  • a note that an information request has been made with a credit reporting body to access your credit file.
  • the type of consumer credit or commercial credit, and the amount of credit, sought in a loan application by you.
  • default information which is a credit default that may be included on your credit file if you have a payment that is more than 60 days overdue.
  • payment information which is a notation added to your credit default that it has been paid.
  • new arrangement information which is a notation added to your credit default indicating that the terms and conditions around the repayment of the amount due has been varied.
  • court proceedings information which is a judgment or order that has been made against you.
  • personal insolvency information which is whether you are bankrupt or subject to a personal insolvency agreement.
  • publicly available information about you:
    i.  that relates to your activities in Australia or the external Territories and your credit worthiness; and
    ii. that is not court proceedings information about you or information that is entered or recorded on the National Personal Insolvency Index; or
  • the opinion of a credit provider that you have committed a serious credit infringement in relation to consumer credit.

“Credit eligibility information” means information such as credit information that is disclosed to a credit provider by a credit reporting body, as well as information that is derived from this information.

KINDS OF CREDIT INFORMATION WE COLLECT AND HOLD

The kinds of credit eligibility information we collect and hold about you include:

  • identification information;
  • consumer credit liability information;
  • repayment history information;
  • information request;
  • default information;
  • payment information;
  • new arrangement information;
  • court proceedings information;
  • personal insolvency information;
  • publicly available information; and
  • serious credit infringement information.

HOW WE COLLECT CREDIT INFORMATION

We collect this information from:

  • you or your authorised representative during the course of our dealings with you, which includes the transactions you make (or do not make) with us and actions that we may take such as initiating legal action;
  • from your credit providers when we purchase a debt from them (or are considering purchasing a debt from them);
  • from a potential credit provider when we are assisting you with a financial solution such as assisting with a loan application; and
  • credit reporting bodies.

CREDIT REPORTING BODIES

The credit reporting bodies that we collect information from and disclose information to are:

Veda Advantage – www.veda.com.au
Dun and Bradstreet – www.dnb.com.au
Experian – www.experian.com.au

KINDS OF CREDIT ELIGIBILITY INFORMATION WE HOLD

The kinds of credit eligibility information we hold about you includes credit information (of the kind listed above) that is disclosed to us by credit reporting bodies.

HOW WE HOLD YOUR CREDIT INFORMATION AND CREDIT ELIGIBILITY INFORMATION

We understand that the security of your credit information and credit eligibility information is important to you so we take steps to protect it from misuse, interference, loss and from unauthorised access, modification or disclosure that include:

  • training all of our staff on the appropriate handling of personal information; and
  • restricting access to our computer systems, physical records and premises to authorised persons; and
  • protecting our technology environment with appropriate security measures such as firewalls and encryption.

We take steps to destroy or permanently de-identify personal information if it is no longer needed for any purpose. If we inadvertently come into possession of credit information and credit eligibility information that is not relevant to our functions or activities, we will destroy that information.

THE KINDS OF INFORMATION WE DERIVE FROM CREDIT REPORTING INFORMATION

The kinds of information we derive from credit reporting information are your updated identification information such as your name, address and employer, and information about whether or not you have met your obligations with credit providers.

PURPOSES THAT WE COLLECT, HOLD, USE AND DISCLOSE CREDIT INFORMATION AND CREDIT ELIGIBILITY INFORMATION

We collect, hold, use and disclose your credit information and credit eligibility information so that we can undertake our functions and activities efficiently and effectively.

Our functions and activities include purchasing debts from creditors such as banks and utility providers, recovering debt, and offering financial solutions such as credit products.

We do not disclose credit information and credit eligibility information in relation to an individual where there is an open financial hardship application and where an individual is complying with a current financial hardship agreement.

ACCESSING YOUR CREDIT ELIGIBILITY INFORMATION WE HOLD

You can request access to your credit eligibility information by submitting a completed Credit Information Request Form and a copy of your drivers licence or another form of government identification document to our Resolutions Team. The Credit Information Request Form is available on our website or by contacting our Resolutions Team.

We will provide you with a copy of your credit eligibility information within a reasonable period after the request is made, usually within 30 days.

In some cases, we may charge a reasonable fee to provide access to your credit eligibility information, but we will never charge you to make a request. If a fee will apply, we will advise you before we provide access.

In certain circumstances we are permitted to withhold or limit access to your credit eligibility information. If this happens, we will inform you of the reasons for this where possible.

SEEKING CORRECTION OF YOUR CREDIT INFORMATION OR CREDIT ELIGIBILITY INFORMATION

We will take reasonable steps to ensure that your credit information and credit eligibility information is accurate, up-to-date, complete and relevant. If you believe the credit information and credit eligibility information we hold about you is not correct, please contact our Resolutions Team.

We will provide you with a written response to your correction request within a reasonable period after the request is made, usually within 30 days.

If we are unable to correct your credit information and credit eligibility information, we will advise you of this in writing and provide the reason.

MAKING A COMPLAINT AND HOW WE WILL DEAL WI TH A COMPLAINT

If you have any concerns about how we have managed your credit information and credit eligibility information, you can:

  • speak with the customer service officer managing your matter; or
  • request to speak with a manager or our Resolutions Team at anytime; or
  • contact our Resolutions Team directly; or
  • contact the relevant External Dispute Resolution scheme (if applicable); or
  • contact the Office of the Australian Information Commissioner.

We take complaints seriously, and will provide a written response within 30 days.

RESOLUTIONS TEAM – CONTACT DETAILS

Email: resolutions@collectionhouse.com.au
Phone: 1800 173 355
Fax: (07) 3831 6655
Mail: Resolutions Team
Collection House Limited
PO Box 2247
Fortitude Valley BC QLD 4006

EXTERNAL DISPUTE RESOLUTION SCHEMES

For Lion Finance Pty Ltd, the applicable External Dispute Resolution scheme is Credit Ombudsman Service Limited:

Website: www.cosl.com.au
Phone: 1800 138 422

For Cashflow Financial Advantage Pty Ltd, the applicable External Dispute Resolution scheme is Credit and Investment Ombudsman:

Website: www.cio.org.au
Phone: 1800 13 84 22

OFFICE OF THE AUSTRALIAN INFORMATION COMMISSIONER

Website: www.oaic.gov.au
Phone: 1300 363 992

OVERSEAS DISCLOSURES OF YOUR CREDIT INFORMATION OR CRED IT ELIGIB ILITY INFORMATION

Most (if not all) organisations will disclose information overseas at some point. We take the necessary steps to protect your credit information or credit eligibility information when it is disclosed overseas.

We may disclose your credit information and credit eligibility information to our overseas subsidiaries in New Zealand and the Philippines.

We may disclose your personal information to our contractors or service providers in overseas countries including the United States, New Zealand and the Philippines.

CHANGES TO OUR CREDIT REPORTING POLICY

From time to time we may review and update our Credit Reporting Policy.
We will publish the current version on our website.