Category: Advice

PRIVACY AUTHORISATION: FINANCE APPLICATIONS

Privacy Act 2020 – Loansmart Ltd is committed to protecting your privacy and maintaining security of the information you provide to us. We abide by the laws relating to privacy and safeguarding of information.

Privacy Act 2020 – Personal Information Notice and Declaration

I/we declare that:

1. I/We understand that there is no obligation to provide personal information but failure to do so may prejudice my chance of obtaining finance.  I declare that the information contained in this application is true and correct.
2. I/We have also disclosed any other names I am known under.
3. I/We are aware that if we have deliberately provided false information in this application, I/we could face fraud or dishonesty charges in the courts.

Privacy Act Acknowledgement, Authorisation and How the Information Will Be Used by Loansmart Ltd

• I/We authorise Loansmart Ltd and all related companies (as defined in the Companies Act 1993) to use and disclose the personal information I have provided to undertake all necessary enquiries and request, collect, check and exchange information (both now and in the future), including but not limited to personal, commercial and financial information about me and references, from:
  • • Any Credit Reporting Agency credit provider
    • The NZTA (NZ Transport Agency),
    • Ministry of Justice,
    • My employer(s),
    • Accountant,
    • Or any other source
• I/We understand and authorise Loansmart Ltd to assess my creditworthiness, providing credit to me, administering and enforcing this Agreement, offering me insurance, maintaining credit records with Loansmart, a related company and external agencies, marketing goods and services provided by Loansmart, a related company or any other supplier nominated by us.
• I/We also authorise Loansmart to disclose information about any loan arising out of this application to any potential assignee of this loan, guarantor or to any person providing services in connection with refinancing this loan, or to any person or organisation I have authorised to obtain information, at any time in the future.
• I/We acknowledge and agree that in order to facilitate a Credit Reporting Agency’s credit reporting services Loansmart will disclose to such agency information about me for that purpose, including any updates of such information. The Credit Reporting Agency will hold that information on their systems for that purpose. Loansmart will also collect and disclose my positive credit information including repayment history to credit reporters. If I default in my payment obligations to Loansmart, I understand that the information about that default may be given to any Credit Reporting Agency and they may give that information about my default to other Credit Reporting Agency customers.
• I/We understand that Loansmart will meet its obligations to me under the Privacy Act 2020
• I/We understand that such information will be held by Loansmart at their business address and by other parties for the purposes described above.
• I/We understand that I have the right to access and correct personal information held about me in accordance with the Privacy Act 2020
• I/We I confirm that I do not have any outstanding traffic, parking or other fines, do not have a criminal record and am not a undischarged bankrupt

If you apply for finance through us, we will share the personal information you give to us with one or more potential lenders.  If we do so, those lenders may use your information in order to:

• process your application for finance;
• assess your creditworthiness;
• verify your identity in accordance with anti-money laundering legislation;
• comply with any other legal obligations; and
• if your application is successful, provide you with an offer of finance.

In order to do those things, those lenders may disclose your personal information to, and collect personal information about you from, certain third parties, including:

• credit reporting agencies (credit reporters), from whom you authorise the lenders to collect information about your identity, current credit obligations and credit history;
• identity verification agencies;
• the New Zealand Transport Agency’s ‘Driver Check’ service;
• the Ministry of Justice, in order to obtain fines information;
• government agencies and regulators, or anyone else with whom a lender is required to share that information for the purposes of complying with all applicable laws; and
• any third-party service provider, including professional advisors and public registers.

If a lender discloses the fact that you have applied for finance to a credit reporter, you agree that the credit reporter may keep that information and disclose it to its customers (which may include disclosing it to other lenders from whom you apply for finance in the future).  You can ask credit reporters for a copy of any credit information they hold about you and to update it, if necessary. More information is available at https://www.privacy.org.nz/privacy-act-2020/codes-of-practice/crpc2020/.

Personal Property Securities Act 1999

• I/We waive my right to receive Verification Statements or Financing Change Statements under the PPSA.  I acknowledge that I am able to request such statements by contacting Loansmart in writing.

Electronic Communication:

• I/We agree that Loansmart may use electronic communication (including email and SMS/text message) for the purpose of making disclosure to me pursuant to the Credit Contracts and Consumer Finance Act 2003, providing me with notices and/or changes to Loansmart Terms and Conditions and/or any other reason such as marketing of services and products.

Website Privacy Statement and Terms of Use 

• The internet is used on a day to day basis and it’s important to us to assist our customers to retain their privacy when using our website. We are committed to protecting your privacy by complying with the Privacy Act 2020.

Sharing Your Information

• Generally, we will only disclose your personal information with your consent or if required or as permitted by New Zealand law.

Links to other Websites

• Our site may contain a number of links to third party websites and online resources that are not owned or controlled by Loansmart. If we have provided links to any third party site for your assistance, this does not imply that we share or endorse the opinions expressed or material appearing on such websites. We therefore do not assume responsibility for the content or practices of any of these third parties. We strongly advise that you read the privacy statements of the sites you visit as a result of following a link posted on our site.

I/We acknowledge that I/We have read/accepted the above Privacy Declaration & Authorisation