Credit Reporting Statement of Notifiable Matters
This statement complements our Credit Reporting and Credit Related Personal Information Policy and provides information on the credit reporting bodies to whom we may disclose your credit information as well as information on certain rights you have in relation to your credit information.
Our handling of credit information is regulated by the Privacy Act 1988 (Cth) (‘Privacy Act’) and the Privacy (Credit Reporting) Code (‘CR Code’).
2. Credit Reporting Policy
Our Credit Reporting and Credit Related Personal Information Policy is available in the Policy section of our website. This policy provides information on our management of your credit information, including:
- your right to access the credit information we hold on you
- your right to seek the correction of credit information that we hold on you
- your right to complain about a breach by us of the credit reporting provisions of the Privacy Act or the CR Code and how we will deal with such a complaint; and
- entities outside Australia to which we are likely to disclose your credit information and the countries where they are located
3. What is Credit 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.
4. Credit Reporting Bodies and your Personal Information
Credit reporting bodies are allowed under the Privacy Act and the CR Code to handle personal information relating to credit. If you apply for any kind of credit or offer to act as guarantor, we may disclose your personal information to, or collect personal information about you from, a credit reporting body. This information is used for the purpose of determining your eligibility for credit, and we may process the information to create an unsuitability assessment or other ratings of your suitability for credit.
Credit reporting bodies may include your personal information in reports that they provide to credit providers to assist those providers in assessing your credit worthiness (such as when you have applied for a loan from the provider).
The credit reporting bodies we deal with are: Bell Mercantile – bellmercantile.com.au/
For contact details and information on how credit reporting bodies manage credit related personal information, please see their privacy policies available at the website above.
Credit reporting bodies offer a service to credit providers wishing to send direct marketing material about credit services to individuals. This is called “credit pre-screening”. You have the right to request that the credit reporting bodies do not use your information for this purpose. To opt out of credit pre-screening, contact the credit reporting body, using the contact details on their websites noted above.
You can also ask a credit reporting body not to use or disclose your personal information for a period if you believe on reasonable grounds that you have been or are likely to be a victim of fraud.
The Privacy Act and the CR Code limit what we can do with the information we obtain from a credit reporting body. Generally, it can only be used in relation to the consumer credit products you hold through us. For example, if you fail to meet your payment obligations in relation to consumer credit, or commit a serious credit infringement, we may be entitled to disclose this to a credit reporting body.