Credit Reporting Policy
Last Updated May 11, 2020
Last Updated May 11, 2020
Alex Pty Ltd ABN 13 627 244 848, Australian Credit Licence 510 805, recognises that your privacy is very important and we are committed to protecting the personal information we collect from you. The Privacy Act 1988 (Cth) (Privacy Act), Australian Privacy Principles and registered privacy codes (including the Privacy (Credit Reporting) Code 2014 (Code)) govern how we must manage your personal information.
This Credit Reporting Policy sets out how we collect, use, disclose and otherwise manage credit-related personal information.
Credit information is personal information that has a bearing on credit that has been provided to you or that you have applied for. This includes credit for personal, domestic or household purposes and credit in connection with a business. It can also cover information about you as a guarantor of a loan or as an insured party under a credit-related insurance policy.
If you apply for credit from us (in the form of us allowing you to defer payment of a debt owed to us on certain terms), we may collect and hold various information related to you. We also collect and use all types of ‘credit information’, ‘credit eligibility information’ and ‘CP–derived information’ (as those terms are defined in the Privacy Act).
‘Credit information’ is the information we may collect and give to a credit reporting body (CRB). The CRB’s we deal with are:
For contact details and information on how credit reporting bodies manage credit-related personal information, please see their privacy policies available at the links above.
The information we collect includes:
In this policy, we refer to ‘credit-related information’ to capture some or all information referred to above (as the context requires).
The main reason we collect, use, hold and disclose credit information is to provide you with products and services. This includes:
If you are oﬀering to act as guarantor your credit information may be necessary to assess whether the borrower will be eligible for a loan if you act as guarantor.
We may also use your credit information for other purposes. For instance, to comply with legislative or regulatory requirements in any jurisdiction, prevent fraud, crime or other activity that may cause harm in relation to our products or services and help us run our business. We may also use your credit information to tell you about products or services we think may interest you, subject to legal restrictions on using this type of information for marketing purposes.
Much of the information we hold about you will be stored electronically in secure data centres located in Australia. Some information we hold about you will be stored in paper files. We use a range of physical and electronic security measures, such as locks and passwords, to protect the security of the credit information we hold. We also train our employees to keep information secure.
The way we approve and manage credit involves a range of tasks. Some of these tasks are carried out for us by third party service providers, both in and outside Australia, including in India and the Philippines. In carrying out these tasks, service providers may have access to credit related personal information. To protect your credit information, Alex enters into contracts with the service providers that require them to comply with the Privacy Act. These contracts oblige them to only use the credit information we disclose to them for the specific role we ask them to perform.
Generally, we disclose credit information to organisations that help us with our business. These may include:
We may also disclose your credit information to others outside Alex where:
As permitted under the Privacy Act, we may participate in repayment history reporting as part of our ‘comprehensive credit reporting’. When we receive a loan application, we may get information about whether the applicant has a history of making required repayments on time and whether any have been made after they are due. For all borrowers, we may periodically report the same information to CRBs. As part of our comprehensive credit reporting we may also disclose the date an account is opened and closed, credit limits and the type of credit. Such information may also be provided by a CRB. For more information about comprehensive credit reporting, please visit creditsmart.org.au .
If you’re having trouble making your repayments, we can help. Please contact firstname.lastname@example.org for a confidential conversation about your situation.
You can request access to credit information we hold about you. You can also ask for corrections to be made. To do so, please contact us.
There is no fee for requesting that your credit information is corrected or for us to make corrections. In processing your request for access to your credit information, a reasonable cost may be charged. This charge covers such things as locating the information and supplying it to you.
There are some circumstances in which we are not required to give you access to your credit information.
If we refuse to give you access to or to correct your credit information we will give you a notice explaining our reasons except where it would be unreasonable to do so.
If we refuse your request to correct your credit information, you also have the right to request that a statement be associated with your credit information noting that you disagree with its accuracy.
If we refuse your request to access or correct your credit information, we will also provide you with information on how you can complain about the refusal.
If you are concerned about how your personal information is being handled or if you have a complaint about a breach by us of the Australian Privacy Principles, please contact us.
We will acknowledge your complaint as soon as we can after receipt of your complaint. We will let you know if we need any further information from you to resolve your complaint.
We aim to resolve complaints as quickly as possible. We strive to resolve complaints within five business days but some complaints take longer to resolve. If your complaint is taking longer, we will let you know what is happening and a date by which you can reasonably expect a response.
If you are unhappy with our response, there are other bodies you can go to.
The Australian Financial Complaints Authority (AFCA) can consider most privacy complaints involving providers of financial services.
AFCA can be contacted at:
Australian Financial Complaints Authority
GPO Box 3 Melbourne VIC 3001
Phone: 1800 931 678
Under the Privacy Act you may complain to the Oﬀice of the Australian Information Commissioner about the way we handle your personal information.
The Commissioner can be contacted at:
If you would like more information about how we protect your privacy, please contact us using the details below:
Email – you can email us at email@example.com; or
Phone – you can call us on 1300 738 453.
We may change the way we handle credit information from time to time for any reason. If we do so, we will update this Credit Reporting Policy.
We, us or our means:
Alex Pty Ltd (ABN 13 627 244 848)