Last updated: April 2024
We understand how important it is to protect your personal information. This document sets out our privacy policy commitment in respect of personal information we hold about you and what we do with that information.
We recognise that any personal information we collect about you will only be used for the purposes we have collected it or as allowed by law. It is important to us that you are confident that any personal information we hold about you will be treated in a way that ensures protection of your personal information.
Our commitment in respect of personal information is to abide by the Australian Privacy Principles for the protection of personal information, as set out in the Privacy Act 1988 and any other relevant laws.
When we refer to personal information we mean "information from which your identity is reasonably apparent. This information may include information or an opinion about you."
The kinds of personal information we collect may include your name, date of birth, address, email address, phone number, account details, occupation, and identification information. If you are applying for finance, we may also collect information about your dependants, residential history, employment details, and earnings documentation.
We may collect "credit information which is used to assess your eligibility to be provided with finance" and may include outstanding finance, repayment history, and defaults.
Some information may be disclosed to employees or contractors of Loan Studio outside of Australia. You acknowledge that Australian Privacy Principle 8.1 may not apply in those circumstances.
We collect your personal information for the following purposes:
We may disclose your information to other organisations that provide products or services used or marketed by us, including intermediaries, insurance partners, lenders, valuers, accountants, credit reporting bodies, and debt collectors.
Where reasonable and practical, we will collect your personal information directly from you. Information may also come from credit reporting bodies, finance brokers, accountants, lawyers, and referees.
We may disclose your personal information to:
Prior to disclosure, we take reasonable steps to satisfy ourselves that the person or organisation has a commitment to protecting your personal information at least equal to our own commitment, or you have consented to us making the disclosure.
Cloud storage may be located outside Australia, and overseas entities that provide support functions may be located in the USA, Canada, Malaysia, India, Ireland, the United Kingdom, and the Philippines.
Types of credit information we exchange include:
Information is exchanged for the purposes of assessing your application for finance and managing that finance. Credit information may be stored electronically on secure servers or in paper form and may use cloud storage.
We exchange credit information with reporting bodies and use it to assess your creditworthiness, assess your application for finance, and manage your finance.
If you fail to meet your payment obligations or commit a serious credit infringement, we may disclose this information to a credit reporting body.
You have the right to request access and corrections to your credit information. Credit reporting bodies may sometimes use information for pre-screening credit offers, which you can decline by contacting the reporting body directly.
Upon notification of suspected fraud, the credit reporting body must not use or disclose that credit information for 21 days.
You may contact the following credit reporting bodies:
We may use your personal information to provide you with current information about finance offers you may find of interest, changes to our organisation, or new products or services.
You may decline to receive marketing material at any time at no charge. Email recipients may use the unsubscribe function. We are committed to meeting such requests within a reasonable timeframe.
We rely on you to ensure the information we hold about you is accurate and complete. You may request to update your information at any time by contacting us.
We will provide you with access to information we hold about you upon request. We may charge retrieval and supply fees and aim to respond within 30 days of receiving your request.
Access may be denied in situations involving existing or anticipated legal proceedings or vexatious requests, with explanations provided.
For inaccurate information, you may request a correction. We aim to provide correction status within 30 days of receiving your request. Where we decline to correct, we will provide reasons.
Government identifiers such as tax file numbers are used only as required by law and are never used as an identifier for our own purposes.
Where it is lawful and practicable to do so, we will offer you the opportunity of doing business with us without providing us with personal information — for example, for general inquiries about rates or offers.
We will only collect sensitive information about you with your consent. Sensitive information includes racial or ethnic origin, political beliefs, association memberships, sexual preferences, criminal records, or health information.
We take reasonable steps to protect your personal information by storing it in a secure environment in paper and/or electronic form and protect against misuse, loss and unauthorised access, modification, or disclosure.
If you are dissatisfied with how we have handled your personal information or our compliance with the Privacy Act, please contact us. We acknowledge complaints within two business days and aim to provide a decision within 30 days.
If our response is unsatisfactory, you may lodge a complaint with:
You may request additional information about how we manage your personal and credit information by contacting us directly.
We regularly review our privacy policy to stay current with market practices, changes in technology, and legislative requirements. Our policy may change periodically — please check back for the latest version.
If you require this policy in an alternative format, please contact us and we will accommodate your request.
Contact our team and we'll be happy to help.
