Lion Credit Reporting Policy
Lion Credit Reporting Policy
This policy contains important information about the credit reporting bodies to whom we disclose your credit related information and your rights in relation to any credit related information that we hold about you.
1. What types of credit related information do we collect and hold?
The main types of credit related information we collect include:
- identification information such as your name, address, date of birth, driver’s licence number, gender and contact details (telephone and email address)
- details of your credit history with us such as missed or late repayments and whether you have met your obligations under any guarantee
- information about any credit provided to you by other credit providers
- details of any credit related court proceedings that relate to you
- details of any bankruptcy or insolvency applications that relate to you
- credit reports and credit assessment scores provided to us by credit reporting bodies
- internal credit assessment checks and scores.
2. How do we collect and hold credit related information?
We typically collect credit related information in the following ways:
- directly from you when you complete an application for credit with us
- from third party credit reporting bodies (as identified in clause 4 below) and other credit providers
- from publicly available resources.
We hold your credit related information in hard copy and electronic formats. We take reasonable steps to destroy or permanently de-identify your credit related information when it is no longer needed.
3. What are the purposes for collecting, holding, using and disclosing your credit-related information?
Our main purposes in collecting, holding, using and disclosing your credit related information are:
- to assess any application you make to us for credit (or which is made by your related entity, such as a company of which you are a director)
- to manage your trading account with us, including to collect payments owed to us in relation to any credit we have provided to you or your related entity
- to assess whether to accept you as a guarantor for an application for credit where you have consented to the disclosure of your consumer credit report for that purpose
- to assess your credit-worthiness, including disclosing your credit related information to credit reporting bodies who may then provide us with credit reporting information about you as otherwise required or authorised by applicable laws.
If you choose not to provide us with credit related information, we may not be able to process your application for credit and/or provide you or your related entity with access to our credit service.
4. To whom do we disclose credit related information?
We may disclose your credit related information to the following credit reporting bodies:
PO Box 7405, St Kilda Rd
Melbourne VIC 3004
e. [email protected]
f. (03) 9828 3447
illion New Zealand
PO Box 9589, Newmarket
e. [email protected]
f. (09) 309 2050
5. Cross border disclosures
6. Storage and security of your credit related information
7. How can you access and correct your credit related information?
You have a right to access the credit related information we hold about you. We will comply with any request to access your credit related information that you send us by email at [email protected], except where applicable laws allow us to refuse to do so. There is no charge for making a request for access, however we may charge you a reasonable administration or retrieval fee for costs incurred with providing access in accordance with your request.
You also have a right to seek to correct any credit related information we hold about you that is inaccurate, incomplete or out of date. If we do not agree with your correction request, we will provide you with a notice explaining our decision and how you can complain about our decision. There is no charge for making a correction request or for the correction of your credit related information.
If you believe that we have not complied with our obligations under Part IIIA of the Privacy Act 1988 or the Credit Reporting Code, you may contact us by sending an email to [email protected] or by phone on 1800 677 852.
We acknowledge and take very seriously every privacy query we receive. Lion will endeavour to respond to you within 20 business days. If you are not satisfied with the way your complaint is handled, you may contact the Office of the Australian Information Commissioner on 1300 363 992 or by completing the OAIC’s online complaints form.
9. Changes to this Credit Reporting Policy
We may change this Credit Reporting Policy from time to time and we will notify you by posting an updated version of the policy on our website. We recommend that you review our website regularly to ensure you are aware of our current Credit Reporting Policy.