Credit Reporting – Statement of Notifiable Matters

About this statement

This statement complements our Credit Reporting Policy and provides information on the credit reporting bodies to whom we may disclose your credit information as well as information on certain rights you have in relation to your credit information. Our handling of credit information is regulated by the Privacy Act 1988 (Cth) (‘Privacy Act’) and the Privacy (Credit Reporting) Code (‘CR Code’).

Credit Reporting Policy

Our Credit Reporting Policy is available on the Affordable Car Loans website. A copy of the Credit Reporting Policy can also be requested. This policy provides information on our management of your credit information, including:

  • The kinds of credit information that ACL Group collects and holds, and how ACL Group collects and holds that information
  • The kinds of credit eligibility information that ACL Group holds, and how ACL Group holds that information
  • The kinds of Credit Provider derived information that ACL Group usually derives from credit reporting information disclosed to ACL Group by a Credit Reporting Body
  • The purposes for which ACL Group collects, holds, uses and discloses credit information and credit eligibility information
  • How an individual may access credit eligibility information about the individual that is held by ACL Group
  • How an individual may seek the correction of credit information or credit eligibility information about the individual that is held by ACL Group
  • How an individual may complain about a failure of ACL Group to comply with the Credit Reporting Code or the Privacy Act and how ACL Group will deal with such a complaint
  • Whether ACL Group is likely to disclose credit information or credit eligibility information to such entities that do not have an Australian link – the countries in which these entities are likely to be located

What is credit information and credit eligibility information?

Credit information is a type of personal information about an individual that Part IIIA of the Privacy Act covers. It includes information that identifies you, about the amount you have borrowed, about repayments and about defaults. Credit eligibility information is your credit file and credit score, and any further information a credit provider derives from your credit reporting information

Credit reporting bodies and your personal information

Credit reporting bodies are allowed under the Privacy Act and the CR Code to handle personal information relating to credit. If you apply for any kind of credit or offer to act as guarantor, we may disclose your personal information to, or collect personal information about you from, a credit reporting body. This information is used for the purpose of determining your eligibility for credit, and we may process the information to create an unsuitability assessment or other ratings of your suitability for credit. Credit reporting bodies may include your personal information in reports that they provide to credit providers to assist those providers in assessing your credit worthiness (such as when you have applied for a loan from the provider).

The credit reporting body we deal with is Equifax – www.equifax.com.au.

For contact details and information on how credit reporting bodies manage credit related personal information, please see their privacy policies available at the link above. Credit reporting bodies offer a service to credit providers wishing to send direct marketing material about credit services to individuals. This is called “credit pre-screening”. You have the right to request that the credit reporting bodies do not use your information for this purpose. To opt out of credit pre-screening, contact the credit reporting body, using the contact details on their websites noted above. You can also ask a credit reporting body not to use or disclose your personal information for a period if you believe on reasonable grounds that you have been or are likely to be a victim of fraud. The Privacy Act and the CR Code limit what we can do with the information we obtain from a credit reporting body. Generally, it can only be used in relation to the consumer credit products you hold through us. For example, if you fail to meet your payment obligations in relation to consumer credit, or commit a serious credit infringement, we may be entitled to disclose this to a credit reporting body.

Last updated: October 2020

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