Lend Path

Privacy Policy

What is Personal Information

“Personal information refers to details or opinions pertaining to you that reveal your identity. Safeguarding your privacy is integral to our business practices. This document outlines our procedures for collecting, storing, utilizing, and sharing your personal information. Additionally, it provides guidance on accessing the personal information we hold about you, correcting it if necessary, and filing complaints about our actions concerning this information.

Our handling of your personal information adheres to the legal framework established in the Privacy Act, the 13 Australian Privacy Principles outlined in Schedule 1 to the Privacy Act, and the Credit Reporting Privacy Code created under the Privacy Act. It’s important to note that these regulations specifically apply to information related to individuals, not corporations.”

The reasons for gathering personal information

“We gather personal information for the following purposes:

  1. To accept and process your loan application or provide credit assistance in compliance with legal requirements;
  2. Evaluate your personal and/or commercial creditworthiness;
  3. Make determinations regarding the risk of default on obligations to us or our associates;
  4. Conduct appropriate risk assessment and management, involving securitization, credit scoring, portfolio analysis, reporting, fraud prevention, and claim recovery;
  5. If your application is successful, furnish a loan or recommend one, determining the terms or making appropriate recommendations regarding loan availability;
  6. Manage your account with us;
  7. Aid in resolving disputes with us;
  8. Provide information about our current or future products, services, or those offered by our commercial partners;
  9. In certain circumstances outlined in paragraph 6(l), either sell your personal information or provide it to others offering services to you; and
  10. Fulfil any legal obligation to collect personal information or make assessments.

We commit not to use collected personal information for purposes other than those disclosed in this Privacy Policy without your consent or in situations where such use would be reasonably expected for that purpose.”

  1. Failure to Provide Personal Information

In the event that you withhold your personal information or withhold consent for us to collect it from alternate sources, we will be unable to, among other things, process your application and conduct the necessary assessment mandated by law. Consequently, we will be unable to meet our internal and external obligations, and providing you with a loan or service will not be feasible.

  1. Sources of Personal Information

We gather personal information from the following channels:

  1. From you during the loan application process or through other communications;
  2. Publicly available sources like telephone directories, website information, or accessible databases;
  3. Other credit providers from whom we seek information;
  4. Credit reporting agencies;
  5. Individuals or entities authorized by you to furnish us with information;
  6. Your use of our website facilitated by ‘cookies’; and
  7. Marketing or lead generation companies from which we may obtain information to offer services to you.

In cases where we acquire personal information as mandated or permitted by law, we will inform you of this fact.”

“5. Sensitive Information

‘Sensitive information’ encompasses details regarding your racial or ethnic background, political opinions, affiliation with a political group, religious beliefs or affiliations, philosophical convictions, membership in a professional or trade association or union, sexual preferences or practices, criminal record, and health or genetic information.

We will refrain from collecting, utilizing, or disclosing any sensitive information about you unless we obtain your explicit consent and it is essential for the performance of one of the aforementioned functions.”

  1. Sharing Personal Information:

We might share your personal information with: a. Credit reporting bodies, ratings agencies, and businesses providing creditworthiness information under our commercial arrangements (further details below); b. Other credit providers, with whom we are accredited to (list of such lenders are detailed in our credit guide)

– Personal and/or business referees nominated by you, including your employer (pertaining to your employment status and income).

– Our professional advisers, contractors, and other service providers (e.g., IT consultants).

– Your legal, financial, and other advisers (if any), if permitted by you.

– Centrelink, Australian Taxation Office, or other Government departments, agencies, or bodies, as required by law to disclose information supplied by you to us.

– Our financiers.

– Our contractors, agents, and service providers (including debt collectors) for efficient dealings with you or collection of owed funds.

– Our ASIC and OAIC approved external dispute resolution service.

– Payment system operators (if any).

– Our insurers, insurance underwriters/providers concerning our insurance policies.

– Entities interested in purchasing any interest in the obligations you owe us under the credit contract, and entities (credit licensees or lead providers) to whom we may sell your personal information for a fee. These entities may either provide a service to you directly or on-sell your personal information to others under the same terms as it was sold to them.

– Search agents and search system providers regarding your residential information and other details for contact purposes.

– Real estate agents, employers, and others to keep us informed about your current employment, residential, and other information held by them.

  1. International Disclosure

Our intention is not to disclose your personal information overseas, and we do not anticipate any situation where such a need might arise. However, we acknowledge that as part of our backup system, certain information, such as through the use of ‘cloud storage,’ might be stored overseas. Importantly, this information will not be accessible by any individual overseas.”

  1. Credit Reporting

The Privacy Act grants credit providers the ability to share certain information with credit reporting bodies, and the extent of disclosure depends on our involvement in the credit reporting system. These bodies are also bound by the Privacy Act and have limitations on the use of the information. Each credit reporting body must have a policy, similar to this one, explaining how it utilizes your information.

The information we may share with a credit reporting body includes:

  1. Whether we provide you with a loan.
  2. The type and amount of the loan.
  3. Dates of loan supply and termination.
  4. Loan terms.
  5. Payment status and any defaults.
  6. Details about late payments and their resolution.
  7. Instances of serious credit infringement (fraudulent activity or evasion of loan obligations).

We may deal with three credit reporting bodies:

  1. a. Equifax (formerly Veda Advantage)

Tel: 13 8332 (Mon – Fri, 8:30 am – 6:00 pm EST)

Email: Electronic message at [Equifax Contact](https://www.equifax.com.au/contact)

Web: [Equifax](https://www.equifax.com.au) or [My Credit File](www.mycreditfile.com.au).

Mail: PO Box 964, North Sydney NSW 2059

  1. Illion Australia Pty Ltd (formerly Dun & Bradstreet)

Tel: 13 23 33

Email: [Illion Contact](https://www.illion.com.au/contact-us/)

Web: [Illion](https://www.illion.com.au/#illion-for-individuals)

Mail: PO Box 7405, St Kilda Rd, Melbourne VIC 3004

  1. Experian Australia Credit Services Pty Ltd

Tel: 1300 783 684

Email: creditreport@au.experian.com

Web: [Experian Credit Services](http://www.experian.com.au/credit-services/credit-services.html)

Mail: GPO Box 1969, North Sydney NSW 2060

  1. Access and Correction
  2. Access:

Under the Privacy Act, you have the right to know the information we hold about you, including details from credit reporting bodies. To access this information, contact us using the following methods:

Tel: 0391919923

Email: info@ozloanbrokers.com.au

Mail: 14/211 Warrigal Road, Hughesdale VIC 3166

Verification of your identity may be necessary before providing any information. We aim to fulfill your request within 30 days, and if more time is needed, we will communicate the reason and seek additional time. Reasonable costs may apply, as specified by law.

  1. Correction:

You can request correction of any inaccurate, incomplete, or outdated personal information we hold. Contact us using the methods mentioned above. If the request pertains to information from a credit reporting body, we will inform them of your request. Upon agreement, we will make changes within seven days and notify you.

If disagreement arises, we will explain our reasons in writing and inform you of steps you can take in response to our refusal.

  1. Complaints

You have the right to complain if you believe we have mishandled your personal information as per the Privacy Act or any relevant code. Contact us with your complaint, and we will strive to resolve it within 30 days. If resolution takes longer, we will communicate the reasons.

If dissatisfied, you can refer the complaint to the Australian Financial Complaints Authority (AFCA) or the Office of the Australian Information Commissioner (OAIC). Contact details for both bodies are provided above. We operate under a Dispute Resolution Policy mandated by the National Consumer Credit Protection Act, and a copy is available upon request. We will manage your complaint in line with the Dispute Resolution Policy, with adjustments based on the nature of the complaint.