Credit Reporting Policy

Credit Reporting Policy

Ownright Pty Ltd ACN 161 568 994 (trading as Funda) is also committed to protecting and respecting your privacy with regards to our collection and use of your credit information.

This credit reporting policy (Policy) is compliant with the requirements of section 21B (3)-(7) of the Privacy Act 1988 (Cth) (as amended and supplemented from time to time) (the Act), and, where relevant, the Australian Privacy Principles.

Please be aware that except to the extent required by law, or when it is deemed impracticable to do so, you have the option of remaining anonymous, or using a pseudonym, when dealing with us in relation to a particular credit reporting matter.

1. Scope of Policy

This Policy applies to all credit information, credit eligibility information or CP derived information about you that is collected, stored, used and disclosed by Funda.

Credit information is any personal information (other than sensitive information) about you that allows us to identify you, describes your consumer credit liability, your repayment history or any other information as defined by the Act (Credit Information).

Credit eligibility information is any credit reporting information about you that was disclosed to us (a credit provider) by a credit reporting body in accordance with the Act, or any information that has any bearing on your credit worthiness which has been, or could be used in establishing the individual’s eligibility for consumer credit (Credit Eligibility Information).

CP derived information is any personal information about you which was derived from credit reporting information which was disclosed to a credit provider, any information which has bearing on your credit worthiness or any information which has been or could be used in establishing your eligibility for consumer credit (CP Derived Information).

2. Credit Information, Credit Eligibility and CP Derived Information that Funda Collects and Holds

The Credit, Credit Eligibility and CP Derived Information collected, held, used and disclosed by us includes, but is not limited to, the following information about you:

(a) name;

(b) date of birth;

(c) gender;

(d) country of residence;

(e) email address;

(f) phone number(s);

(g) bank account and other payment details;

(h) your repayment history;

(i) confirmation of your insolvency history (if any);

(j) anything which may affect your credit worthiness;

We will only collect any of the above information if it is reasonably necessary for, or directly related to, one or more of our functions in providing you with a loan.

We will notify you when we collect any of your Credit Information or Credit Eligibility Information.

3. How Funda Collects and Holds Credit, Credit Eligibility and CP Derived Information

We will only collect Credit, Credit Eligibility and CP Derived Information from you directly unless it is unreasonable or impractical to do so.

We may collect Credit, Credit Eligibility and CP Derived Information from you directly in the following ways:

(a) by telephone;

(b) in person;

(c) in documentation such as your application form;

(d) by email; and/or

(e) via text message.

In a situation where it is unreasonable or impractical to obtain Credit, Credit Eligibility or CP derived information from you directly, we may collect this information from publicly available sources or third parties such as a referee provided by you, a credit reporting agency or insurer of your household contents.

If we receive personal information through Credit, Credit Eligibility, or CP derived information and we did not solicit this information, we will determine whether we would have been able to obtain the information in accordance with section 2 above, and if not, we will destroy the information or ensure that the information is de-identified as soon as practicable after receiving the information.

4. The Purpose for which Funds Collects, Holds, Uses and Discloses Credit Information and Credit Eligibility Information

We collect Credit Information and Credit Eligibility Information from you to assist us in providing you with high-quality financial services, including:

(a) to assist in our decision-making process and review of your credit contract and rating of your credit worthiness;

(b) to decide whether to provide you with a credit facility;

(c) to manage the credit facility, we provide you;

(d) to support the credit reporting system by disclosing information to credit reporting bodies;

(e) to deal with any complaints you may have about any facet of our service and to facilitate the resolutions of such matters; and

(f) to otherwise enable us to provide you with fast and fair small business loans and invoice coverage.

Credit Information is also used by us for disclosure to credit reporting bodies (as permitted by the Privacy Act). The Credit Information is then used by credit reporting bodies to assist us in determining a customer’s credit-worthiness.

The credit reporting bodies dealt with by Funda include:

  • Equifax;
  • Illion;
  • Creditor Watch; and
  • Experion.

5. Overseas Distribution of Personal Information

We will not distribute any of your Personal Information, including your Credit Information or Credit Reporting Information to any overseas parties.

6. Access and Correction of Personal Information

If you have reason to believe that the Credit Information and Credit Eligibility Information we collect about you is inaccurate, out-of-date, incomplete, irrelevant or misleading, you have a right to request the access and correction of that information, or any other information contained in your credit report. To do so, please email us at [email protected] or by otherwise sending your request to us at the following address: PO Box 290, The Junction, NSW 2291. Upon receipt of a written request from you, we will give you access to the Credit or Credit Eligibility Information we hold about you within 30 days of receiving your request unless an exception to access applies under the Privacy Act.

Upon receipt of a written request from you we will comply with our obligations under the Privacy Act to correct, amend, delete or cease to deal with any Credit or Credit Eligibility Information we hold about you if it proves to be factually inaccurate, incomplete, or irrelevant to the purpose(s) for which it is being held within 30 days.

7. Complaints Process

If you believe that we have dealt with your Credit, Credit Eligibility or CP derived information in a way that is inconsistent with the credit reporting laws, you may make a complaint in writing to our Customer Support Manager, whose details included in section 9 below. We will respond to all complaints within 30 days.

Please note that you may lodge your complaint anonymously. However, this may limit our ability to deal with your complaint and implement a satisfactory remedy.

If you are dissatisfied with our response to your complaint, you may then lodge a complaint with the recognised external dispute resolution (EDR) scheme the Australian Financial Complaints Authority or with the Office of the Australian Information Commissioner (OAIC). To lodge a complaint with the OAIC you can either submit a Privacy Complaint Form online or mail, fax or email the form to the OAIC. The Privacy Complaint Form and further details on how to lodge a complaint with the OAIC can be accessed via the OAIC website at: https://www.oaic.gov.au/individuals/how-do-i-make-a-privacy-complaint.

8. Customer Support Manager Contact Details 

By email: [email protected]

By post: Nathan Wright

PO Box 290

The Junction, NSW 2291

Australia

9. Updates to our Credit Reporting Policy 

Our Credit Reporting Policy is subject to change without prior or separate notification. Any changes will be posted on our website.

This Credit Reporting Policy was last updated on 28 March 2018.

Standard credit approval criteria and terms and conditions apply. Australian credit licence 437240 | ABN 14161568994 © Copyright 2018 Ownright PTY LTD trading as FUNDA.