Important information relating to credit reporting
This Statement sets out important information about credit reporting that is relevant to you if: you are an individual applying for a credit product, or who holds a credit product, from Fair Go Finance Pty Ltd; and Fundco Pty Ltd (trading as Capfin) (“we”/“us”/”our”).
Subject to the provision of sufficient notification to our customers and consent of our customers, as required by Australian law, we engage in Comprehensive Credit Reporting (CCR) to one or more of the credit reporting bodies (CRBs).
New laws have enabled more information to be included on credit reports, which is known as Comprehensive Credit Reporting (CCR).
Previously the focus was on credit enquiry information and negative information like defaults. As a result of CCR, positive information, such as repayments that are made on time can also be included. This approach gives a fairer and more accurate picture of your credit worthiness and supports responsible lending. This credit related information is now reflected in credit reports.
We may disclose your personal information and credit related personal information to credit reporting bodies
We may disclose personal information and credit related personal information about you in connection with your credit applications or other credit-related interactions with us to credit reporting bodies.
Those credit reporting bodies may then include that information in reports that they provide to other credit providers to assist them to assess your credit worthiness.
If you fail to meet your payment obligations to us in relation to consumer credit, or if you commit a serious credit infringement in relation to consumer credit provided by us, we may be entitled to disclose this information to credit reporting bodies.
If we provide information about your credit application to a credit reporting body, this may affect decisions by other credit providers as to whether they provide credit to you and on what terms.
Information about your credit application including:
The maximum amount of credit approved;
Type of loan account;
Date account was opened and, if applicable, closed date;
Secured loan or unsecured loan;
Sole loan or joint loan;
Other specific terms and conditions of the account.
Any application you make to us as an enquiry (‘a credit enquiry’); and
If you fail to meet your repayment obligations in relation to consumer credit provided by us under your consumer credit contract, for example as a result of an overdue payment (‘missed payment’); and
When your arrears are or exceed a specified payment amount or time frame as set out by legislation or guidelines; and
A payment default information for the arrears or the full amount due if we chose to accelerate the debt; and
If you commit a serious credit infringement in relation to consumer credit provided by us under your consumer credit contract.
Credit Reporting Bodies (CRBs)
We disclose information to the following credit reporting bodies:
Equifax Pty Ltd (previously known as Veda Advantage Ltd)
A credit reporting body is required to have a policy which explains how they will manage your credit related personal information.
Protect your credit reporting information if you become the victim of fraud
You have a right to request that a credit reporting body not use or disclose your credit reporting information if you believe that you have been, or are likely to be, the victim of fraud. For example, if you think that someone is misusing your identity to apply for credit. If you wish to request this, you should contact a relevant credit reporting body directly.
Excluding your credit reporting information from pre-screening for direct marketing
You have a right to request that a credit reporting body exclude your credit reporting information from being used by them for direct marketing-related pre-screenings requested by credit providers. If you wish to request this, you should contact a relevant credit reporting body directly.
Accessing or correcting your personal information or making a privacy complaint
You have rights to request access to, or correction of, personal information that we hold about you, including credit-related information. You also have rights to make a complaint if you consider that we have not complied with the Privacy Act or Credit Reporting Privacy Code in relation to your information.
This statement also covers any other entities for which we may act as agent for an undisclosed principal in entering into a credit agreement with you.
A copy of this Statement of Notifiable Matters can be downloaded here or you can request that a copy can be emailed or posted to you by calling us on 1300 324 746
It can be expensive to borrow small amounts of money and borrowing may not solve your money problems.
Check your options before you borrow:
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