CREDIT PROVIDER’S CREDIT GUIDE
As an intending borrower, we provide you with the following Credit Guide, which must be provided to you in writing, in accordance with Section 126 of the National Consumer Credit Protection Act 2009.
|Licensee’s name (being a Credit Provider):||Loan Barn Pty Ltd, ABN 68 135 306 062|
|Licensee’s trading office:||6/2 Premier Circuit, Warana, Queensland, 4575|
|Telephone:||07 5313 4083|
|Postal address:||PO Box 650, Mooloolaba, Qld 4557|
|Australian Credit Licence Number:||384030|
|Internal Dispute Resolution (IDR) Procedure:
Should you have a complaint or concern in regard to your credit contract, including any unforseen financial difficulty, in the first instance, please contact the Loan Barn’s IDR Manager. The Manager will be pleased to assist in resolving your complaint or concern. There is no charge for this service.
|IDR Manager: Paul McLachlan
Phone: 07 5313 4083, Email: firstname.lastname@example.org
|External Dispute Resolution (EDR) Procedure:
Following contact with the IDR Manager, if you are not satisfied with the outcome of the attention given to your complaint or concern, you may contact the Australian Financial Complaints Authority (AFCA) with details of your complaint or concern. There is no charge for this service.
|EDR Ombudsman: AFCA – Phone: 1800 931 678, or go to www.afca.org.au
Postal address: GPO Box 3, Melbourne, VIC, 3001
Suitability of the Loan
We are required to assess the suitability of the loan you have requested, under Sections 128, 129 and 133 of the National Consumer Credit Protection Act 2009. These Sections are concerned with whether or not the loan you seek is “unsuitable”.
Under Section 131, we are obliged to advise you that we will not participate in the arrangement of a loan for you, if that loan would be unsuitable and under Sections 128 and 133, we are obliged to refuse an increase in your credit limit if that would also be deemed unsuitable.
Suitability or unsuitability is assessed in accordance with the following criteria:
- Whether or not you will be able to comply with the financial obligations under the contract, without substantial hardship, if at all.
- Whether or not the contract will meet your requirements and objectives.
- Whether or not the contract meets requirements imposed by regulation, from time to time.
- It involves us, as a Credit Provider, making enquiry about your financial circumstances.
- According to whether or not we believe the information to be true.
In accordance with Section 132, if you are successful with your application and enter into a credit contract with us because the loan is not deemed unsuitable, you may request a copy of that assessment any time during the following 7 years. This will be provided at no charge to you.
If your copy is requested within 2 years, we will provide it within 7 days. If your request is received after the second year, we may take up to 21 days to provide you with a copy.
CREDIT INFORMATION (PRIVACY) MANAGEMENT POLICY
LOAN BARN PTY LTD (hereafter referred to as Loan Barn)
Australian Credit Licence No. 384030
Please read this document BEFORE you provide Loan Barn with ANY personal information in connection with applying for a loan from us. If you provide us with this personal information, we will assume that you have followed this instruction and that you have read and understood this Policy.
This policy has been developed to appropriately acknowledge the importance of, and assist in providing a framework for, the appropriate level of protection for consumer identification and credit information protection. The policy represents Loan Barn’ commitment to compliance with the privacy laws and privacy code obligations.
Concerning the collection, holding, use and disclosure of credit related personal information
We (Loan Barn) provide this policy in accordance with the Privacy Amendment (Enhancing Privacy Protection) Act 2012, hereafter referred to as the Privacy Act, detailing the lawful approach we take in the collection of information in our role as credit providers and in regard to the management and use of all information collected from our potential customers and actual customers, and all subsequent dealings with customer/consumer representatives, credit reporting bodies, and other entities listed in this policy.
Our collection of information may start with a credit suitability or affordability process to establish your credit status, or credit worthiness, and will include enquiries and reasonable steps to verify the identity and credit information we collect from you and from other sources. Enquiries may include obtaining a credit report about you from a credit reporting or reference body, such as Equifax, the body with which we have a contract. Verification will include seeking access to and reviewing bank statements.
In the course of our business, we provide consumer credit, as defined in Section 6(1) of the Privacy Act. This credit being provided wholly or primarily for personal, family, or household purposes. From time to time we may also offer business loans.
In the course of our business we seek to establish your credit worthiness. That means:
- your eligibility to be provided with credit;
- your history in relation to credit; and
- your capacity to repay an amount of credit.
The kinds of credit information we collect and hold
In accordance with the industry’s mandatory Credit Reporting Privacy Code, Obligation 5.1, we collect and hold credit reporting information, credit identification information, credit capacity information and personal information collected and held under Part 111A of the Privacy Act.
In accordance with Section 6 of the Privacy Act, we may collect and hold the following personal information that may be considered confidential:
- identification information;
- credit liability information;
- repayment history information;
- a statement that an information request has been made to a credit reporting body, by a credit provider, in relation to your application for credit;
- the type of personal or commercial credit, and the amount of credit sought in an application that you have made to a credit provider, in connection with which that credit provider has made an information request concerning you;
- overdue and default information concerning your current and/or previous personal and/or business loans;
- payment information about you, including information concerning late payments;
- information about new arrangements you may have made involving an existing credit contract;
- court proceedings (civil) information about you;
- personal insolvency information about you, as included on the National Personal Insolvency Index, which relates to bankruptcy, debt agreements, personal insolvency agreements and Sections 50 and/or 188 Bankruptcy Act directions and/or authorities;
- insolvency information associated with your company or companies seeking loans;
- publicly available information concerning your activities in Australia and your credit worthiness, including information recorded on the National Personal Insolvency Index;
- any opinion that we might reach that you have committed a serious credit infringement in relation to consumer credit we have provided to you, with the circumstances specified on the file;
- any opinion that we might reach that you have committed a serious credit infringement in relation to business or commercial credit we have provided to you, with the circumstances specified on the file;
- unsolicited information that we may deem relevant to keep on file; and
- other relevant information in the circumstances.
Explanation of some of the key elements listed above is as follows.
Identification information about you
During the credit suitability assessment process, required under Sections 128-131 of the National Consumer Credit Protection Act, to assist in protecting you against identity theft and to assist in reducing the opportunity for fraud, we may ask you for some or all of the following identification information:
- your full name;
- any alias or previous name/s;
- date of birth;
- current address;
- 2 previous addresses (if any);
- name of current employer; or
- name of last known employer; and
- driver’s licence number.
To assist with business or commercial loan applications, we may ask you for:
- a copy of the company’s Constitution and associated documentation;
- a copy of documents identifying the company directors;
- financial statements; and
- other documents.
Consumer and business credit liability information
We collect and hold consumer and/or business credit liability information, including:
- the name of the credit provider;
- whether or not the credit provider holds an Australian Credit Licence;
- the type of consumer credit;
- the day on which the consumer credit was entered into;
- the terms or conditions of the consumer credit which relate to the repayment of that credit and anything that may be prescribed by regulation;
- the maximum amount available under the consumer credit; and
- the day on which the consumer credit is terminated, or otherwise ceases to be in force.
Repayment history information
If and when we provide consumer credit to you, the following information about you as a consumer may be collected and held:
- whether or not you have met monthly repayment obligations, including any defaults;
- the date on which the monthly payment is due and payable; and
- if you make payments after the due and payable day, the day on which you actually made the payment.
Thereafter this information may be provided to a credit reporting or reference body.
Overdue and Default information
We collect and hold information about any payment that is overdue and, under Section 88 of the National Credit Code, Regulation 86 of the National Consumer Credit Protection Regulations 2010 and Section 6Q of the Privacy Act, that:
- you are overdue in making the payment;
- you have received a written notice from us advising you of the overdue amount and requesting payment of the amount;
- the Statute of Limitations does not prevent us from recovering the amount; and
- where the amount overdue is $150 or more, it is sufficient to list on your file with a credit reporting body. Any amount will be listed on the file we maintain concerning your identification and credit information.
We may collect and hold information that is given or made against you in civil court proceedings that relate to any credit that has been provided to you, or for which you have applied.
How we collect credit information
We collect credit information from 6 possible sources:
- from you;
- from the documentation we request and you provide;
- from credit reporting bodies;
- from people or organisations you permit us to contact, to verify your credit relevant details;
- from other credit providers;
- from the External Dispute Resolution scheme (AFCA); and
- from information about you publicly available, including court and tribunal reports and decisions.
Please note, depending on circumstances, we may choose not to seek information from all these sources to assess your credit application.
How we hold credit information securely
In all circumstances, we take reasonable steps to protect your information from misuse, loss, interference, unauthorised access, modification or unauthorised disclosure. We choose not to provide further detail, for security reasons. Further protection detail can be provided to you verbally, on request.
The kinds of credit eligibility information that we hold
This is credit reporting information and information about you that may be disclosed to us by a credit reporting body, under Division 2 of Part 111A of the Privacy Act.
How we hold credit eligibility information
Hard copies are held in a locked environment, with other security protection after business hours and electronic copies are held in a secure environment, with the application of appropriate passwords and other computer and software security techniques.
The credit reporting body
We provide information to and request information from Equifax, a credit reporting body. You may contact Equifax if:
- you believe that the information they have on their file about you needs amendment or correction; and/or
- you want the body to hold off disclosing any information from the their file about you because, on reasonable grounds, you believe that you have been, or are likely to be, a victim of fraud; and/or
- you do not want the body to use their credit reporting information for the purposes of pre-screening for direct marketing by a credit provider and/or
The contact details for Equifax are:
Telephone: 13 8332
Process when collecting information from a credit reporting body
To obtain a credit report of some kind about you, we are required to provide certain information which Equifax will note on your credit file, along with the fact that we made an enquiry.
In accordance with Equifax polices, this information will probably appear on your credit report and will be accessible by credit providers who are customers of Equifax, when you are applying for a loan at some time in the future.
This identity and credit information and these listings could adversely impact on your future applications for credit, if the relevant future credit provider’s application approval policies and processes include consideration of the number of past inquires as being indicative of something adverse or negative about you as a borrower.
We have no control over or input into Equifax’s policies with regard to the content of their credit reports. If you proceed to applying for a loan with us, you will be provided with a Privacy Consent Agreement which includes further detail from the company concerning privacy for borrowers. When you indicate your consent or acceptance of that agreement, you will be agreeing to the possibility that the current or future information on your credit report may prevent you from obtaining the loan you are currently seeking, or some future loan.
Information provided by credit reporting or reference bodies
Subject to conditions, Part 111A of the Privacy Act permits credit reporting bodies, such as Equifax, the company we use, to collect from us, other credit providers and from elsewhere, the following information about you which may be included on your credit file held by Equifax, This information will be available to us and to any other client of the credit reporting body who makes a credit inquiry, seeking a credit report of some sort from that body.
This information is limited to personal credit information, credit reporting information, credit ID information and credit capacity information, and includes:
- identification information;
- consumer credit liability information;
- repayment history information;
- a statement that an information request has been made by us, another credit provider, broker, mortgage insurer or trade insurer, or other client of the credit reporting body;
- the type of consumer credit or commercial credit;
- default information;
- serious credit infringement information;
- payment information;
- new arrangement information, including changes in the terms and conditions of your credit contract;
- court proceeding information;
- personal insolvency information;
- publicly available information as to your credit worthiness (subject to some exceptions); and/or
- a credit provider’s opinion that you have committed a serious credit infringement in relation to the consumer credit which credit provider has provided to you; and/or
- the total indebtedness and any accumulation of such due to defaults in payment and associated fees and interest charges before, during and after the issuing of the Privacy Act’s Section 6Q and Section 21D Notices.
Some of this information may be collected from us, some from other clients of the credit reporting body and some from other sources, as specifically indicated, or by implication indicated above.
Please note that the credit reporting body has discretion as to what it will include in a credit report about you and there is no opportunity under the Privacy Act, or Credit Reporting Privacy Code, to complain if the body chooses not to list certain information it holds about you, including information we have provided.
Should you have any issues with the information that the credit reporting body holds and uses in their reports about you, the complaint should be made direct to the credit reporting body, because that body is the only authorised or recognised entity that can make and implement the decision to change the information it holds. Please note that you will be required to fully, accurately and honestly explain the reasons you seek a change to the information on your credit file or credit report (whatever called).
You are invited to visit the Equifax website at www.equifax.com.au to view the following information:
- How you can obtain Equifax’s privacy policies.
- Your right to access and correct information Equifax holds about you.
- How you may complain if you think Equifax has breached privacy and credit reporting laws that apply to you.
- Your right to request that Equifax not use any information held about you for purposes of pre-screening, for any company to undertake direct marketing that involves you.
- Your right to request that Equifax not use or provide to its clients any information about you if you believe that you are a victim of fraud.
This document contains all the notifiable matters, as specified in the Credit Reference Privacy Code, together with all matters specified in the Privacy Act that we are required to communicate to you. As such, it constitutes a Notifiable Matters Statement and a Credit Information (Privacy) Management Policy.
In this document and in the Privacy Consent Agreement, which you may receive later, we have chosen the option available by the wording in Code Obligations 4.2 of the Credit Reporting Privacy Code to present the information required in Code Obligations 4.1, as well as the information required for presentation under the Privacy Act in this document. This Credit Information (Privacy) Management Policy and the Privacy Consent Agreement, including the Notifiable Matters Statement, are provided with clear instructions to you to read both, before you make any attempt to provide us with personal information in conjunction with applying for a personal loan from us.
Transfer of information between us and Equifax, the credit reporting body
This information transfer is permitted under Division 2 of Part 111A of the Privacy Act. The information involved is the credit-related personal information that a credit reporting body may provide about you, to assist us to assess your credit worthiness. This information is relevant for use in establishing your eligibility for consumer credit.
Please note that the company may contract with Equifax to have part or all of this information provided, from time to time, in accordance with company policy. This information has been provided to Equifax by credit providers with whom you have had contact, and includes:
- information about you after you turned 18, except identification information;
- credit applied for and/or supplied in Australia;
- your repayment history; and
- any default information.
If we provide a loan to you and you fail to meet your repayment obligations, or commit a serious credit infringement, we may be entitled to disclose this to the credit reporting body and it will be included on the file they hold about you.
Regardless of any request from anywhere, including credit “repair” companies, we will not remove, or attempt to facilitate the removal of, this default information from either our files or Equifax’s files and credit reports, unless presented with clear and convincing evidence that the information is factually incorrect, the default has been repaired with full payment of the amount owing, or we have entered into a payment arrangement with the consumer that is the subject of an agreement between both parties.
Transfer of information between us and ASIC or AFCA
In accordance with our Australian Credit Licence conditions and a number of provisions in the Australian Securities and Investments, National Consumer Credit Protection and the Anti-Money Laundering and Counter Terrorism Finance (AUSTRAC) Acts, we may be required to give ASIC, AUSTRAC or AFCA copies of all or some part of your information.
The purposes for which we collect, hold, use and disclose credit information and credit eligibility information
The consumer credit-related purposes for which we collect, hold, use and disclose information are:
- to assess your application to us for consumer credit; and
- to collect payments that are overdue in relation to consumer credit we may have provided you; and
- to collect payments that are overdue in relation to consumer credit provided by another credit provider, under a credit contract that has been assigned to us by that other credit provider [in accordance with Sub-sections 6K(2) and (3)].
In accordance with section 21M, we will disclose relevant and permitted information to debt collectors.
Use of credit eligibility information
In accordance with Section 21G, we use credit eligibility information for the following purposes:
- credit related purposes involving you; or
- permitted reporting of information to a credit reporting body; or
- in connection with what we reasonably believe is a serious credit infringement that you may have committed; or
- for a use prescribed by a court, or tribunal, or regulations.
We will disclose this information to:
- credit bodies;
- a company related to us;
- a person responsible for processing your credit application; or
- a person who manages our credit contracts; or
- another credit provider, if we reasonably believe that you have committed a serious credit infringement; or
- the Australian Financial Complaints Authority (AFCA); or
- as authorised under Australian law, regulation, court or tribunal.
In accordance with Section 21N of the Privacy Act, we may disclose information to an approved entity seeking participation in an assignment of your debt, or purchase of our business. Should the transaction proceed, you will be informed in writing, in accordance with Obligation 13 in the Credit Reporting Privacy Code and all our rights will be transferred to the acquirer, in accordance with Section 6K of the Privacy Act.
How you may access credit eligibility information that we hold about you
First contact the company’s Privacy Compliance Manager on telephone: (07) 5313 4083, or post to: PO Box 650 Mooloolaba, QLD, 4557, or email email@example.com.
In accordance with Section 21T and Code Obligation 19, at your request, we will:
- give you access to any credit information we hold about you;
- respond to your request within a reasonable period and provide the access within 30 days of your request;
- provide the information in a clear manner and provide reasonable explanations and summaries of the information, to assist you to understand the impact of the information; and
- deny access, only if such would be unlawful, required under Australian law, or by a court or tribunal, or would prejudice an official enforcement body investigation.
Following your successful request, access will be provided by the Privacy Compliance Manager, who will facilitate the provision of a print out of your information stored in the company’s Specialist Lending System. Any denial of access will be in writing, with the reason/s explained and details of the company’s internal disputes resolution process, AFCA and the Office of the Australian Information Commission, to which you may lodge a complaint if not satisfied with the company’s explanation.
Facilitating any changes to information previously provided to Equifax
Where we have previously provided factually incorrect information to Equifax, or any other entity, we will contact them and inform them of the corrected information.
Should no correction be necessary because, after careful review, the Privacy Compliance Manager has determined the information kept on file by us is accurate, up-to-date, complete, relevant and not misleading, you will be informed of this and we will not make any attempt to encourage Equifax to change any information on its files that correctly reflects our information.
You are advised that to do so would be aiding and abetting Equifax to commit an offence under Sections 14 and Section 16A(4) of Privacy Principle 7 in the Privacy Act, which attracts fines of at least 37,000 and up to $370,000. It would also be a serious breach of our contract with Equifax, attract offences under the Corporations Act and, arguably, the Crimes Act.
Should the Privacy Manager agree that some information held by us and provided to Equifax is inaccurate, not up-to-date, incomplete, irrelevant or misleading, but that other information including information about defaults in previous and current loan repayments held by us, provided to Equifax and included in their credit reports is accurate, up-to-date, complete, relevant or not misleading, only the information that needs correction will be amended, or sought to be amended or removed from Equifax’s file and credit reports, as is appropriate. The accurate information will also not be amended or removed from our files, nor will any correct notation that a credit enquiry has occurred.
How you may seek the correction of credit information and credit eligibility information that we hold
Once you have inspected the personal credit information we hold on file about you, you may inform our Privacy Compliance Manager if you have discovered any information that is inaccurate, out-of-date, incomplete, irrelevant or misleading.
The Privacy Compliance Manager will be pleased to amend the file within 30 days but, in most cases, will require appropriate evidence from you to support your request. Please note that, in the exercise of this correction duty, the Privacy Compliance Manager is lawfully entitled to consult with a credit reporting body and/or another credit provider. You, and any entity consulted in the process, will be informed in writing of any correction.
How you may complain about our failure to comply with this Division, or the relevant registered CR code
There are 3 ways you may complain:
- Verbally, or in writing, to our Privacy Manager.
- If you are not satisfied with the Privacy Manager’s response, you can complain verbally or in writing to our Internal Dispute Resolution Manager.
- If you are not satisfied with the Internal Dispute Manager’s response you can lodge a complaint either with the Privacy Commissioner, at the Office of the Australian Information Commission.
Contact details –
Office of the Australian Information Commission
GPO Box 5218
Sydney NSW 2001
Phone: 02 9284 9753
Enquiries: 1300 363 992
With the external dispute resolution scheme of which we are a member, contact details:
Australian Financial Complaints Authority (AFCA)
GPO Box 3
Melbourne VIC 3001
Phone: 1800 931 678 (free call)
There is no charge for lodging a complaint.
How we will deal with such a complaint
We will write to you acknowledging receipt of the complaint. After appropriate investigation, the Privacy Manager will write to you as soon as practicable after a decision has been reached, outlining the decision and the reasons for reaching it.
We do not disclose credit information, or credit eligibility information, to entities that do not have an Australian link.
Obtaining a copy of this policy
You can obtain an emailed or posted copy of this Credit Information (Privacy) Management Policy by contacting the Privacy Compliance Manager on (phone/email/post).
Information from Loan Barn
From time to time you may receive messages from Loan Barn and/or related, connected and associated companies that include news, or service and product information.
You may opt out of receiving them at any time, in accordance with Section 2.1, Schedule 3 of the Privacy Act. This advice and the process to do so will be included with every message sent.
Privacy Consent Agreement
YOUR PRIVACY AND THE PROVISION OF CREDIT
LOAN BARN PTY LTD (Hereafter referred to as Loan Barn)
Australian Credit Licence No. 384030
There are 4 SECTIONS included in this form.
Please read each Section carefully.
PRIVACY CONSENT AGREEMENT
Also constituting a Statement of Notifiable Matters
By signing or otherwise consenting to this agreement, you consent to Loan Barn and other entities, including Loan Barn Pty Ltd collecting, holding, using and disclosing personal identification and credit information about you. If you do not provide us with this consent we will be unable to provide you with a loan. This policy contains detailed information concerning the company’s management and use of your information and constitutes a Statement of Notifiable Matters, with content in accordance with that prescribed by Clause 4.1 in the Credit Reporting Privacy Code.
As well as reading this document, you are strongly encouraged to read the Credit Information (Privacy) Management Policy on our website at www.loanbarn.com.au and/or provided in hard or electronic copy as you may request, before you provide any personal information. In all our dealings with you, we will assume that you have done so.
The Commonwealth Privacy Act 1988, as amended, the Commonwealth Privacy Regulations 2013, and the Credit Reporting Privacy Code 2014 empower and regulate Loan Barn in accordance with the following.
Use of your Information – Australian Privacy Principle 6
In accordance with Sections 21G, 21H, 21J and 21 M of the Privacy Act, Loan Barn collects and holds your personal identification and credit information only for the following purposes:
- to verify your identity and other information provided;
- to assess any application you make for a loan;
- to assess your financial circumstances;
- to help us process your application for a loan in an efficient manner;
- to avoid the chance you may default on your payment obligations;
- to notify you of a default;
- to notify other lessors of a default;
- to facilitate the collection of overdue payments;
- to efficiently manage and administer the loan and any services we provide to you; and
- to introduce you to another lessor, when we act as a referrer.
Sources of information
By signing or otherwise consenting to this agreement, you give Loan Barn permission to collect information from a wide variety of sources. This information can include any information about your credit worthiness, credit standing, credit history, or credit capacity, that you, other credit providers or lessors and credit reporting bodies and their authorised agents are allowed to provide to Loan Barn under the Privacy Act and/or Credit Reporting Privacy Code. It may also include information provided by referees, relatives, your bank, real estate agents, landlord, payroll officer and employers (past and present), that may or may not be listed on your loan application, together with other credit providers, with lessors, and with government agencies and departments.
By agreeing to this Section, you authorise Loan Barn to contact any one or more of these sources, to provide any and all permitted relevant information they may have regarding you, including tenancy or employment history and bank account and other financial details.
Loan Barn may ask you for documents, including one or more of the following:
- 90 days of bank statements, to date of application;
- driver’s licence;
- Centrelink income statements;
- employment payslips;
- bills and invoices, showing current address and payment information;
- bank cards;
- birth certificate;
- proof of age cards;
- copies of any lease agreements;
- copies of any credit contracts;
and the like.
This information is only accessed as required by Loan Barn’ employees, representatives, professional advisers, contractors and other service providers, to facilitate the above purposes and to satisfy the responsible lending requirements of the National Consumer Credit Protection Act. Loan Barn will not sell, rent or trade your personal information.
Loan Barn reasonably assumes that any referral to third parties that you may nominate, in order that Loan Barn may obtain or verify your personal and other information, will have been with the agreement and knowledge of the third parties involved and that you will have made them aware of the purposes and use of such information, prior to Loan Barn contacting them.
Your identity verification
Loan Barn may verify your identity by attempting to match information you have provided with that held by a verification company and/or a credit reporting body. This task may involve the disclosure of your name, date of birth and address, to verify whether or not the personal identity information you have provided to Loan Barn matches information held by that third party.
If we are unable to verify your identity by the above means, Loan Barn will inform you, so that you might contact the verification company or credit reporting body to update your information they hold, or you may ask Loan Barn to attempt to verify your identity by alternate means.
In accordance with Section 21D of the Privacy Act, Loan Barn has chosen to continue with the lawful negative credit reporting (privacy) regime. By consenting to this section, you specifically agree that the company may provide information to Equifax & Illion, the credit reporting bodies which Loan Barn uses. This disclosure will be for the following purposes only:
- to obtain identity verification information;
- to obtain a consumer credit report about you, and/or
- to allow the credit reporting body to create or maintain a credit information file, containing information about you.
When seeking a credit report about you, Loan Barn will disclose information you have provided to the credit reporting body. This may include, but not necessarily be limited to:
- your name;
- the type of credit you want;
- the amount;
- the role involved;
- a reference number;
- a relevant date; and
- that your application for a loan has been made with Loan Barn –
in accordance with Equifax & Illion policies.
Equifax & Illion’s privacy policies are posted on their company’s website.
Information disclosed to one or more credit reporting bodies
In our dealings with Equifax & Illion we may also disclose information about the history of your borrowing from Loan Barn, including
- identity particulars – your name, sex, address (and previous two addresses), date of birth, name of employer and driver’s licence number;
- your application for a loan;
- the fact that Loan Barn may provide, or has provided you with a loan;
- the fact that your loan has incurred overdue account status;
- the fact that your loan has incurred default status; and
- information that, in the reasonable opinion of Loan Barn you have committed a serious credit infringement (i.e. you have been fraudulent, or indicated an unwillingness to make your loan payments).
All of this information is used to assess your credit worthiness.
The credit reporting body and your information
You should assume that all the credit information we collect from you, or about your financial history and status, can be used in Equifax & Illion reports about your financial circumstances and made available to credit providers that use Equifax & Illion credit report services.
This could include a credit provider with whom you are applying for a loan, who may consider the number of loan applications you have made in the past, when undertaking an assessment of your suitability to be issued a loan. The number of applications and the types of loan for which you have previously applied may influence that credit provider’s application assessment policy.
Information disclosure to other entities
Under Part 111A of the Privacy Act, Loan Barn may disclose your personal information to:
- other credit providers;
- our external service providers and their agents who provide business services to us, on a confidential basis, only for the purpose of our business;
- the Australian Financial Complaints Authority (AFCA), to which a complaint relating to a particular service we provide to you can be referred. Telephone – 1300 565 562, email – firstname.lastname@example.org, postal address – GPO Box 3, Melbourne, Vic 3001, website – www.afca.org.au; and
- any court or tribunal as may be required by law.
Loan Barn may provide limited permitted information to real estate agents, employers, referees, government departments and authorities, and other third party entities that you may have listed in your loan application/assessment form, for identity and/or credit information verification purposes.
The names and contact details of the other credit providers and/or lessors with whom we have shared information, if any, will be provided on request, as they vary from time to time and for the particular consumer.
The information we may provide to another credit provider, if acting as a referrer, will be limited to the following:
- your name;
- your contact details; and
- the purpose of your proposed loan.
Period to which this understanding applies
The information may be collected or disclosed before, during, or after the term of the provision of the loan.
Information disclosure in the event of a default of your payment obligations
In the event of the creation of an overdue account and/or default of the repayment conditions entered into in with Loan Barn, any information you have provided may be made available to personnel employed by solicitors and/or debt collection agencies authorised by Loan Barn to assist in the process of recovery of the overdue payments, plus all associated fees and charges (if any) and all relevant legal and reasonable administrative costs incurred.
In addition, in the event of a default in payment, a series of payments, or a serious credit infringement, Loan Barn may inform Equifax & Illion of the situation and that information will be held on file by Equifax & Illion and appear in your credit reports.
Access to your personal information
You have a right to contact Loan Barn and may request the opportunity to inspect the credit information we hold about you and to ask for correction of any matter you reasonably deem and justify to be incorrect, outdated, irrelevant, incomplete or misleading.
You can apply to Loan Barn to obtain access to your personal information by contacting the Privacy Compliance Manager by email at email@example.com, or post to PO Box 650, Mooloolaba, QLD, 4557.
You can also apply to access the personal information Equifax holds about you. They may be contacted on telephone no. 1300 762 207, and Illion on 1300 734 806 or through www.mycreditfile.com.au.
By signing or otherwise consenting to this agreement, you consent to Loan Barn sending you direct marketing promotional information concerning Loan Barn’ products and/or credit activities.
Should you not wish to receive this direct marketing material, you may notify us at any time using the link provided at the bottom of any email message or the Opt Out facility provided in any SMS.
Concerns and complaints
If you have any privacy management concerns during the application process and term of the loan, please contact Loan Barn’ Privacy Compliance Manager.
You also have a right to ask the relevant credit reporting body not to use your information for pre-screening credit offers and/or not to use your information if you believe that you have been a victim of fraud.
Commercial credit Information
In order to assess an application for a loan, Loan Barn may obtain a report containing information about your commercial credit activities and/or credit worthiness from a credit reporting body. To the extent that any of this information could be regarded as personal, the provisions outlined in this section, in regard to personal information, apply.
Information Disclosure and Communications Under the SPAM Act 2003
You are informed that Section 16 of the Spam Act provides that Loan Barn cannot communicate with you via a “commercial electronic message” (email, fax, SMS) without your consent.
As you would expect, for speed and convenience, where possible and with your permission, Loan Barn would prefer to communicate with you using such electronic means. Without your permission, written communications will have to be conveyed by Australia Post.
The Electronic Transactions Act 1999
You are informed that the Electronic Transactions Act requires that, before Loan Barn can communicate with you electronically (email, fax, SMS), you also have to give permission under that Act for Loan Barn to communicate with you in that way.
We seek your permission to:
- electronically format and send you the information that we are obliged to provide under the National Consumer Credit Protection Act 2009 and associated Regulations;
- send you electronic messages, rather than providing paper copies.
You are informed that, in giving this permission, you are agreeing to:
- use the relevant computer programs and have sufficient internet capacity to interact with Loan Barn’ system;
- regularly check your email Inbox and/or fax machine and/or SMS Inbox;
- not blame Loan Barn if any properly sent electronic message does not reach you; and
- notify Loan Barn of any changes to your electronic addresses, and absolve Loan Barn from any liability if you fail to do so.
We remind you that you can withdraw your permission for the above at any time, provided you give Loan Barn 24 hours’ notice, confirming your current address and contact details.
Information Disclosure Under the Commonwealth Anti-Money Laundering and Counter-Terrorism Legislation
You are informed that, under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act), there are provisions for the use of credit reporting information to assist in identity verification. By consenting to this section, you attest that Loan Barn has informed you of the following statutory provisions.
Under Section 35A(1), this can include the electronic provision of your name and/or address and/or date of birth, as you may have provided to us, to a credit reporting body. This information can and frequently has to be provided to credit reporting bodies by Loan Barn for a matching process entailing comparison with personal information about you they already have on their files.
If there is no satisfactory match found and/or the level of verification which we must seek, as part of both our AML/CTF responsibilities and our mandatory credit unsuitability/suitability assessment process under the National Consumer Credit Protection Act 2009 and associated Regulations, is not achieved, we must give you the opportunity to verify your identity by alternative means.
In these circumstances, if you choose not to attempt to verify your identity by contacting the credit reporting body yourself, or by alternative means, or your contact with the credit reporting body is unsuccessful, or we determine that the alternative has failed to provide adequate identity verification, we cannot provide you with a loan. To do so would threaten Loan Barn’ Australian Credit Licence.
Please note that we have to keep a record for 7 years regarding which credit reporting body we contacted, the personal information we provided and the assessment with which we were supplied.
Dispute Resolution Policy
Loan Barn is committed to resolving complaints quickly, fairly and honestly.In accordance with the good business practices adopted by Loan Barn and under our Australian Credit Licence conditions, in the unlikely event of a consumer having a concern or complaint, Loan Barn has a policy of allowing customers easy access to management and a friendly, efficient and fast approach to solving concerns and complaints.
You start by talking to the Loan Barn representative with whom you have been dealing. If you need to go further, we have an Internal Dispute Resolution process, with a policy to make every reasonable effort to resolve an issue on the day it comes to the specially trained Internal Dispute Resolution Manager’s attention, or as soon as possible thereafter.
Please contact us immediately if you have a concern regarding our products or services.
Loan Barns Contact details:-
Phone: 07 5313 4083 (Mon –Fri 9.00AM – 5.00PM AEST)
In the very, very unlikely event that you may want to go even further, Loan Barn belongs to an External Dispute Resolution scheme. This scheme can be contacted at:
Australian Financial Complaints Authority – (AFCA)
Phone: 1800 931 678
Postal address: GPO Box 3, Melbourne, VIC, 3001.
Always remember, if a customer has a concern or complaint, Loan Barn want to resolve the issue as quickly as possible. We respect and value our many customers and our business grows because our customers like the services we provide and like getting their loans from us. We want to retain that reputation. To obtain the best outcome with the least hassle, bring up your issue with the Loan Barn representative you have been dealing with as soon as you can, so your worries can be dealt with quickly.
Warning About Borrowing
WARNING – Do you really need a loan today?*
It can be expensive to borrow small amounts of money and borrowing may not solve your money problems.
Check your options before you borrow:
• For information about other options for managing bills and debts, ring 1800 007 007 from anywhere in Australia to talk to a free and independent financial counsellor.
• Talk to your electricity, gas, phone or water provider to see if you can work out a payment plan.
• If you are on government benefits, ask if you can receive an advance from Centrelink. www.humanservices.gov.au/advancerepayments
• The Australian Government’s MoneySmart website shows you how small amount loans work and suggests other options that may help you.
This statement is an Australian Government requirement under the National Consumer Credit Protection Act 2009.
Website Terms & Conditions
• This site is offered in the English language. The information, and the products and services that are made available through this website, are intended only for residents of Australia. The information and materials on this website are subject to change, or termination without prior notice.
• Loan Barn assumes no liability for the security of this site or your communications with the site. It is strictly prohibited to link third party websites with this site without Loan Barns prior written permission. We may permit some links from third party websites to this site, or otherwise include links to third party websites on this site, but Loan Barn takes no responsibility for, and excludes any and all liability associated with, such third party websites to which it is linked or for material posted to this site by anyone other than Loan Barn. We regularly review our website security measures, and take reasonable efforts to ensure that the most up-to-date encryption methods are used. However, we cannot guarantee that information that you transmit over the internet is entirely secure. When you submit information via this website, you accept that you do so at your own risk. We take all reasonable care to ensure that information that is received by us is secure in our systems, and we encrypt the data prior to transmitting it via the internet to third parties. However, we can never guarantee that the information received is secure. We do not guarantee that this website is virus free, or that access to this website will be free from interruption. By using this website, you accept that you do so at your own risk and you agree to provide true, accurate, current and complete information about yourself and any accounts that you hold or maintain elsewhere and you agree to not misrepresent your identity or your account information. You agree to keep your account information up to date and accurate.
• This website contains general information about our products and services. This information does not, unless we state otherwise, constitute an offer or inducement to enter into a credit contract, nor form part of any terms and conditions of any products or services offered
• It is strictly prohibited to use or contact this site to disrupt or damage the site, its contents or its security measures or to harass or disparage Loan Barn, its respective products or services or personnel. No unsolicited email (spam) may be directed to or through this site.
• While we have taken all reasonable steps to ensure that the information contained in this website is accurate and complete, we do not warrant that the information is free from error or omission. We do not warrant that the quality of the products or services made available on this website will meet your expectations.
• To the extent permitted by law, this site is offered without warranties of any kind and Loan Barn disclaims any implied warranties of merchantability and fitness for a specific purpose as well as title or non-infringement. We are not responsible for timeliness, accuracy, unavailability or interruptions in availability, viruses or other defects in the site or its contents. In no event shall Loan Barn be liable for any loss or damages suffered by users (whether to their computer systems or otherwise) or third parties, as a result of or in connection with accessing this site, even if Loan Barn has been informed of the possibility of such damage and without regard to negligence.
• Copyright in all material (including any compilation) on this site is owned by, or licenced to, Loan Barn Pty Ltd.Except to the extent prescribed by the Copyright Act 1968 (Cth). You are prohibited from reproducing, creating links to, framing, uploading to a third party or storing or transmitting any part of this website. All trade names, trademarks, service marks, logos and trade styles on this site are owned by Loan Barn Pty Ltd. Proper use is limited to use in connection with the products and services of the mark owner and its subsidiaries and no other use is permitted without the owner’s prior written permission
• Use of this site is subject to these terms and conditions which you as user accept by contacting and using this site. Loan Barn reserves the right to revise and update these terms and conditions at any time, effective on the date of posting to the site of the revised or updated terms and conditions.