Credit reporting policy
In this policy, “we” or “us” refers to Heartland Australia Group Pty Limited ACN 604 859 752 and its related bodies corporate (as that term is defined in the Corporations Act 2001 (Cth)), successors, assigns, agents and associates. These entities include ASF Custodians Pty Ltd ACN 106 822 780 and Australian Seniors Finance Pty Ltd ACN 108 875 636. We may change this policy from time to time at our discretion.
1. Credit information
We regularly collect credit information. Credit information is that part of your information that we use to assess your eligibility for the products that we make available. This can include details of any finance that you have available, your history in repaying loans and other information that credit providers use to assess eligibility.
When you apply to us for credit, we may request a credit report about you from a credit reporting body. A credit report contains information about your credit history which assists credit providers to assess your application, verify your identity and manage your accounts. Credit reporting bodies collect and exchange this information with credit providers.
The Privacy Act 1988 (Cth) (“Privacy Act”) and the Privacy (Credit Reporting) Code (“CR Code”) limit the information that credit providers can disclose about you to credit reporting bodies, as well as the ways in which credit providers can use credit reports. The information can generally only be used in relation to the products that we make available to you.
2. What types of information do we exchange with credit reporting bodies?
The information we can disclose includes your identification details, any applications for credit you have made, the type and amount of credit you have, any failure to make repayments or defaults and whether you have committed a serious infringement (such as fraud).
We can also ask credit reporting bodies to provide us with an overall assessment score of your creditworthiness.
The credit reporting bodies we may share information with include:
Dun & Bradstreet (dnb.com.au); and/or
Contact details and copies of their privacy policies are available on their websites.
3. For what purposes do we collect and use your credit related information?
We use information from credit reporting bodies to confirm your identity, assess applications for credit, manage our relationship with you and otherwise in order to comply with laws, regulations and codes of practice. We may combine the information from a credit reporting body with other information.
Credit providers can ask credit reporting bodies to use your credit-related information to pre-screen you for direct marketing. You can ask a credit reporting body not to do this. You can also ask a credit reporting body to not use or disclose your credit information if you believe you have been, or are likely to be, a victim of fraud.
4. To whom do we disclose your credit information to?
We may disclose your credit information to third parties in connection with the purposes described above. This generally includes disclosure to the following types of third parties:
our related bodies corporate;
our service providers and contractors;
other financial and insurance institutions;
other credit providers;
debt collecting agencies;
credit reporting bodies;
government departments and regulatory bodies and Issuer or Official record holder of identity documents;
your agents, advisers, referees, executors, administrators, trustees, guardians, beneficiaries (if you are a trustee) or attorneys; and/or
other persons where this is permitted by law or to whom you have directed or otherwise permitted us to disclose your credit information to.
Where we disclose your credit information to third parties we will use reasonable endeavours to ensure that such third parties only use your credit information as reasonably required for the purpose we disclosed it to them and in a manner consistent with the Privacy Act.
5. How can you access and correct your personal information?
If you wish to access the credit information we hold about you, you can contact us using the details in Section 7. We may require that the person requesting access provide suitable identification.
We will provide access to that information in accordance with the Privacy Act, subject to certain exemptions which may apply. Access may not be provided where the information would disclose personal information about someone else, would disclose commercially sensitive matters (including our business operations and decision making processes) or is protected from disclosure by law. If you have requested to see your information and we are not able to disclose it to you, then we will tell you and give you reasons.
We will usually provide your credit information free of charge. However, in some cases we may need to charge you an administration fee (such as when your request requires us to obtain information that is not readily available).
If you think that any credit information we hold is incorrect or out of date, then you can ask us to correct or update it. We may need to consult with credit reporting bodies or other credit providers before being able to correct or update the information. If we disagree the information should be corrected, then we will tell you and give you reasons.
6. What can you do if you have a privacy issue?
If you have any questions, concerns or complaints about our collection, use or disclosure of credit information, or if you believe that we have not complied with this policy, the Privacy Act or the CR Code, you can contact us using the details in Section 7.
Please provide as much detail as possible in relation to your question, concern or complaint. We will take any privacy complaint seriously and it will be assessed by an appropriate person with the aim of resolving any issue in a timely and efficient manner. We request that you cooperate with us during this process and provide us with any relevant information that we may need. If your complaint concerns credit related information, then we may need to consult with other organisations, including credit reporting bodies or credit providers.
If you are not satisfied with the outcome of our assessment of your complaint, you may wish to contact the Office of the Australian Information Commissioner (click here for information) or the Australian Financial Complaints Authority (click here for information).