The protection of Your information is very important to Us. We understand that You have the right to privacy and that You expect Us to keep Your information safe and secure. In general We do not share non-public information about You with third parties without Your consent, except as explained in the rest of this policy.
We Respect Your Privacy
- Personal Data is information that identifies You and/or is specific to You. The Site respects Your privacy and the confidentiality of Your Personal Data in compliance with the data protection laws. This policy exists to help You understand how the Site, as Data Controller, uses and protects Your Personal Data.
- We shall take appropriate organisational and technical measures for protecting Personal Data, and We shall store Personal Data only as long as necessary for the correct function of the Site and legal requirements.
- Before we provide services, goods or financing to you, we undertake checks for the purposes of preventing fraud and money laundering, and to verify your identity. These checks require us to process Personal Data about you. The Personal Data you have provided, we have collected from you, or we have received from third parties will be used to prevent fraud and money laundering, and to verify your identity.
- We obtain Personal Data: at registration, from Your Profile, from any Loan Requests that You create, Bids that You make, and from other organisations such as employers, credit reference agencies and anti-fraud organisations. Examples of stored Personal Data may be:
- Your name, address, email address
- landline and mobile telephone numbers
- birth date
- information You complete in relation to Our client surveys
- information included in any documents You complete or online services to which You subscribe
- financial information
- employment details and
- bank account details
- We and fraud prevention agencies may also enable law enforcement agencies to access and use your Personal Data to detect, investigate and prevent crime.
- We process your Personal Data on the basis that we have a legitimate interest in preventing fraud and money laundering, and to verify identity, in order to protect our business and to comply with laws that apply to us. Such processing is also a contractual requirement of the services or financing you have requested.
- Fraud prevention agencies can hold your Personal Data for different periods of time, and if you are considered to pose a fraud or money laundering risk, your data can be held for up to six years.
- In addition to Personal Data, other information that We collect includes certain information about your computer and/or your mobile or handheld device (such as a smart phone or tablet), including where available your:
This information is used for maintaining the Site, identifying trends in usage, improving the Site's security, improving products and services and for monitoring purposes.
- IP address
- operating system
- type of browser and
- web pages visited
- Other uses of Personal Data include validating and verifying information;
- Debt Collection Agency
- to process any application made by You
- updating Your records
- to administer Your Account
- to comply with Our statutory and regulatory obligations
- assess lending risks
- identify and prevent fraud, money laundering and other crimes
- report to regulators
- inform You on lending or borrowing
- improve Our products or Services or
- for statistical analysis and market research
- We will keep Personal Data confidential and only give it to others as strictly necessary for exercising rights and meeting obligations resulting from legitimate use of the Site or pursuing Our legitimate business goals.
- Examples of those to whom We pass Personal Data are agencies for law enforcement and fraud prevention, credit reference agencies, reputable debt collectors and anti money laundering organisations.
- Not used.
- We and other organisations, including law enforcement agencies, may also access and use this information to prevent fraud and money laundering, for example, when:
- checking details on applications for credit or credit-related services
- managing credit and credit related account or facilities
- recovering debt
- checking details on proposals and claims for all types of insurance
- checking details of job applicants or employees
- We and other organisations may access and use from other countries the information recorded by fraud prevention agencies.
- Other examples of when We pass on Your Personal Data are:
- if You ask Us to
- for the operation of the Site, e.g. when making or receiving payments
- to inform credit reference agencies regarding Your borrowing account
- to investigate, prevent or detect fraud or to share information with anti fraud organisations
- to file a default or trace debtors
- checking details in relation to anti money laundering issues
- to regulatory or taxation authorities
- if We are required to by law.
- We will not disclose Personal Data to other Members unless necessary to enforce a Loan Agreement. If You receive others' Personal Data, You may only use it in correspondence with Us about the issue.
- When processing Loan Requests, Loan Agreements or Your Account, the Site will show certain transaction data (e.g. username, amount, Interest rate but certainly not Your name, or other identifying data.
- Any credit reference agency that is searched to obtain a credit reference on You, will keep a record of such search, and other lenders may use it to assess applications they receive from You in the future.
- We will give You at least 14 days notice before We file a default on Your credit reference.
- We reserve the right to appoint an Internet service provider to host the Site on Our behalf which may be situated outside the European Economic Area. By agreeing to the ToU You consent to any transfer of Your personal information outside the European Economic Area. This may be necessary for Us to achieve the purposes set out above.
- We may use technology to track the patterns of behaviour of visitors to the Site. This can include using a "cookie" which would be stored on Your browser. You have a right to refuse this and if You don't want this to happen, then You should modify Your browser to prevent this happening.
CREDIT REFERENCE AGENCIES
- In order to process your application, we will perform credit and identity checks on you with one or more credit reference agencies (“CRAs”).
To do this, we will supply your personal information to CRAs and they will give us information about you. This will include information from your credit application and about your financial situation and financial history. CRAs will supply to us both public (including the electoral register) and shared credit, financial situation and financial history information and fraud prevention information.
We will use this information to:
- Assess your creditworthiness and whether you can afford to take the product;
- Verify the accuracy of the data you have provided to us;
- Prevent criminal activity, fraud and money laundering;
- Manage your account(s);
- Trace and recover debts; and
- Ensure any offers provided to you are appropriate to your circumstances.
We will continue to exchange information about you with CRAs while you have a relationship with us. We will also inform the CRAs about your settled accounts. If you borrow and do not repay in full and on time, CRAs will record the outstanding debt. This information may be supplied to other organisations by CRAs.
When CRAs receive a search from us they will place a search footprint on your credit file that may be seen by other lenders.
If you are making a joint application, or tell us that you have a spouse or financial associate, we will link your records together, so you should make sure you discuss this with them, and share with them this information, before lodging the application. CRAs will also link your records together and these links will remain on your and their files until such time as you or your partner successfully files for a disassociation with the CRAs to break that link.
The identities of the CRAs, their role also as fraud prevention agencies, the data they hold, the ways in which they use and share personal information, data retention periods and your data protection rights with the CRAs are explained in more detail at each of the three CRA sites: Callcredit https://www.callcredit.co.uk/crain; Equifax https://www.equifax.co.uk/crain; Experian https://www.experian.co.uk/crain/index.html.
CONSEQUENCES OF PROCESSING
- If we, or a fraud prevention agency, determine that you pose a fraud or money laundering risk, we may refuse to provide the services or financing you have requested, or to employ you, or we may stop providing existing services to you.
- A record of any fraud or money laundering risk will be retained by the fraud prevention agencies, and may result in others refusing to provide services, financing or employment to you. If you have any questions about this, please contact us.
- Whenever fraud prevention agencies transfer your Personal Data outside of the European Economic Area, they impose contractual obligations on the recipients of that data to protect your Personal Data to the standard required in the European Economic Area. They may also require the recipient to subscribe to ‘international frameworks’ intended to enable secure data sharing.
- Your Personal Data is protected by legal rights, which include your rights to object to our processing of your Personal Data; request that your Personal Data is erased or corrected; request access to your Personal Data.
- For more information or to exercise your data protection rights, please contact us.
- You also have a right to complain to the Information Commissioner’s Office which regulates the processing of Personal Data.
- Cookies are small text files stored on Your PC when You visit the Site and can be used in order for the Site to run effectively or to identify Your PC whenever You return to the Site.
We use a number of different cookies on Our Site. For further information on Cookies We recommend You visit http://www.aboutcookies.org for detailed guidance.
The list below describe the cookies We use on this Site and what We use them for. Currently We operate an 'implied consent' policy which means that We assume You are happy with this usage. If You are not happy, then You should either not use this Site, or You should delete the cookies having visited the Site, or You should browse the Site using Your browser's anonymous usage setting (called "Incognito" in Chrome, "InPrivate" for Internet Explorer, "Private Browsing" in Firefox and Safari etc.)
First Party Cookie
These are cookies that are set by this Site directly.
You can find out more about Google's position on privacy as regards its analytics service at http://www.google.co.uk/intl/en/analytics/privacyoverview.html
Joomla: The Site runs the popular Joomla CMS and cookies are used to store basic data on Your interactions with Joomla, and whether You have logged into Joomla. We use a session cookie to remember Your log-in for You if You are a registered user and We deem these as being strictly necessary to the working of the Site. If these are disabled then various functionality on the Site will be broken.
More information on session cookies and what they are used for at http://www.allaboutcookies.org/cookies/session-cookies-used-for.html
Third Party Cookies
These are cookies set on Your machine by external websites whose services are used on this Site. Cookies of this type are the sharing buttons across the Site allow visitors to share content onto social networks. Cookies are currently set by Facebook, Twitter and LinkedIn. In order to implement these buttons, and connect them to the relevant social networks and external sites, there are scripts from domains outside of the Site. You should be aware that these sites are likely to be collecting information about what You are doing all around the internet, including on this Site.
You should check the respective policies of each of these sites to see how exactly they use Your information and to find out how to opt out, or delete, such information.
The Site may contain links transferring You to other websites. Such websites may not be within Our control, and therefore other privacy policies may apply to such sites. We recommend that You take care when You visit another website and supply Personal Data.
We reserve the right to transfer Personal Data to a legal successor who acquires the right to use such information in case the Site is sold or assigned.
Under the Data Protection Act 1998, You have a right to access, view, correct, or remove any Personal Data We, credit reference agencies and fraud prevention agencies hold about You. If you would like to know more or put in a request, please contact us. We will meet Your request in a reasonable period of time and after proof of Your identity provided that We do not infringe any legal provisions by doing so. We will first inform You of any fee that might be payable, and You have confirmed to Us that You wish to proceed.