Management of Credit Reporting Information Policy
Issued on October 2017
We are a “credit reporting business” as defined in section 6P of the Privacy Act 1988 (Cth) (“the Act”). This policy details the way in which we manage the credit reporting information that we collect, hold and report on under the Act.
What is credit information?
‘Credit information’ about an individual is defined in section 6N of the Act, as: “Credit information about an individual is personal information (other than sensitive information) that is:
- identification information about the individual; or
- consumer credit liability information about the individual; or
- repayment history information about the individual; or
- a statement that an information request has been made in relation to the individual by a credit provider, mortgage insurer or trade insurer; or
- the type of consumer credit or commercial credit, and the amount of credit, sought in an application:
- that has been made by the individual to a credit provider; and
- in connection with which the provider has made an information request in relation to the individual; or
- default information about the individual; or
- payment information about the individual; or
- new arrangement information about the individual; or
- court proceedings information about the individual; or
- personal insolvency information about the individual; or
- publicly available information about the individual:
- that relates to the individual’s activities in Australia or the external Territories and the individual’s credit worthiness; and
- that is not court proceedings information about the individual or information about the individual that is entered or recorded on the National Personal Insolvency Index; or
- the opinion of a credit provider that the individual has committed, in circumstances specified by the provider, a serious credit infringement in relation to consumer credit provided by the provider to the individual.”
What kind of credit information do we collect and hold?
The primary category of personal information which is ‘credit information’ that we collect and hold is “identification information about the individual”. This identification information may consist of a name, ABN or ACN, home and/or business address, and contact information (including email addresses and telephone numbers).
We may also on occasion collect and hold court proceedings information, personal insolvency information, and publicly available information about an individual.
Many of the other categories of personal information identified as ‘credit information’ under the Act are specified as relating solely to ‘consumer credit’. We only list Late Payers on our Website where the debts relate to ‘commercial credit’. Accordingly, where we receive information regarding payments of debts, this is not considered to be ‘credit information’ under the Act
How do we collect and hold credit information?
We usually collect credit information from Members when listing a Later Payer on our Website. Occasionally we will collect credit information through our own enquiries.
The credit information will usually be collected via our Website or by email. The credit information will then be held in our IT system.
What kind of personal information do we derive from the credit information that we hold?
The identification information (consisting of names and/or ABN/ACN, home and/or business addresses, and contact information (including email addresses and telephone numbers) is also personal information.
How and why do we collect, store, use and disclose credit information?
We collect credit information for the primary purposes of:
- Providing our Services to our customers; and
- Facilitating our internal business operations, including fulfilling our legal requirements and obligations as a credit reporting business as defined in the Privacy Act 1988 (Cth).
We may use and disclose credit information for the purposes for which it was collected or a related purpose, such as:
- For publication on our Late Payer List (privately accessible to our Members and subscribers of our Services);
- On a confidential basis to external service providers that provide financial, administrative, legal or other services in connection with our business;
- As compelled or permitted by law;
- Within our organisation.
Under no circumstances will we enter into a commercial agreement for the sale of credit information
We will not, under any circumstances, use or disclose credit information for the purposes of direct marketing, including to assess whether or not an individual is eligible to receive the direct marketing communications of a credit provider.
Despite this, if you wish to make a request that we do not use your credit information to assess whether or not an individual is eligible to receive the direct marketing communications of a credit provider, you may do so by contacting us at firstname.lastname@example.org.
How can you access or correct your credit information?
You may request access to your credit information that we have collected by contacting us at email@example.com.
Upon receipt of the request, we will respond within a reasonable time and provide access to your credit information in the manner requested, if it is reasonable and practical to do so.
If the credit information is easily accessible, it will be made available free of charge. Where the credit information is not easily accessible, we may charge a reasonable fee for the cost of accessing and/or retrieving the information.
We take reasonable steps to keep your credit information accurate, up to date, complete and relevant. If you believe there is a mistake in the information we hold, please contact us at firstname.lastname@example.org so that we can correct the information and keep it current. You will never incur any monetary fee to have your credit information corrected with us.
We may, from time to time, take steps to verify or update your information by collecting personal information from public sources (such as a telephone directory or your business website).
What if you are not happy with the way we handle your credit information?
If you believe we have failed to comply with the requirements of section 20B of the Act, or if you are otherwise dissatisfied with the way we handle your credit information, including any breach of the Privacy (Credit Reporting) Code 2014, you can lodge a complaint in writing by contacting us at email@example.com.
If you do not receive a response to your complaint within 30 days, or the complaint is not resolved to your satisfaction, you are entitled to refer the matter to the Office of the Australian Information Commissioner at firstname.lastname@example.org or on 1300 363 992.