Credit Reporting Policy

Credit Reporting Policy

Introduction

This Credit Reporting Policy (Policy) applies to Borg Group Pty Limited ACN 144 730 781 and all of its related bodies corporate and entities from time to time (referred to collectively as “Borg”).

The Policy sets out:

  • the types of personal information that Borg may collect, hold, use and disclose that relate to a customer’s (your) credit eligibility (credit information);
  • the way in which Borg collects, holds, uses or discloses credit information;
  • the purposes for which Borg collects credit information;
  • the other entities and businesses with whom Borg may share or exchange your credit information;
  • your right to request a correction of your credit information if it is considered inaccurate;
  • the process that the customer (you) should follow if you are unsatisfied with the way in which Borg has dealt with your credit information;
  • the process for updating this Policy from time-to-time.

Types of Credit Information

Borg may collect, hold, use and disclose a range of credit information and related personal information. This includes:

  • your name, sex, date of birth, current address and previous addresses;
  • your current employer;
  • your driver’s licence number;
  • previous credit applications and related information such as the amount and type of credit requested;
  • credit limits;
  • previous information requests to Credit Reporting Bodies (CRBs) made by other Credit Providers and insurers;
  • current and previous Credit Providers, as well as the terms of those credit arrangements;
  • permitted payment default information;
  • information related to serious credit infringement or potential serious credit infringement;
  • court judgment information;
  • publicly available credit information;
  • specified insolvency information from the National Personal Insolvency Index; and,
  • any credit score or credit risk assessment received from a CRB.

Borg’s Purpose in Collecting, Holding, Using and Disclosing Credit Information

Borg may collect, hold, use and disclose your credit information in order to:

  • manage Borg’s exposure to customer late payment or non-payment;
  • recover overdue amounts;
  • maintain accurate customer records; and
  • comply fully with Borg’s legal and regulatory obligations.

Borg may share your credit information with a range of individuals and entities, including:

  • other Credit Providers;
  • third party businesses that are used to support Borg’s business, such as consultants with which Borg contracts;
  • lawyers, courts, tribunals and regulatory authorities as obligated or permitted to do so by law;
  • Borg’s insurers;
  • debt purchasing businesses;
  • anyone else that you authorize Borg to share your information with such as your representatives.

Credit Reporting Bodies

Borg may exchange credit information with CRBs, in accordance with the Privacy Act 1988, the CR Code and any other applicable regulations in order to:

  • assist CRBs in conducting credit assessments;
  • assess your application for credit or changes to your credit arrangements;
  • help collect overdue amounts;
  • create assessments and ratings of your creditworthiness.

Exchanging credit information with CRBs may affect your ability to obtain credit in the future.

The CRB that Borg may disclose information to is Equifax. They can be contacted through their online form or by phone 13 8332.

Storage of Credit Information

Credit information is stored electronically and in hard copy form. Borg will take reasonable steps to ensure that this information is stored securely in accordance with the Borg Privacy Policy and the requirements of the Privacy Act 1988. Where information is no longer required by us, Borg will take reasonable steps to destroy or de-identify that information.

Accessing Credit Information

Under the Privacy Act 1988 and the CR Code you have the right to access the credit information which Borg holds and to advise us if you consider it inaccurate. Borg will consider any request by you to revise that information and advise you of any actions Borg takes. If you make such a request, you may be asked to:

  • fill out an Information Request Form;
  • verify your identity in writing, and/or;
  • if the inquiry involves extensive administration time or resources, pay a fee. If this is the case, Borg will advise the likely cost in advance and can help refine your request if required.

In some circumstances you may be refused access to or correction of your credit information (such as where it would be unlawful or where it would have a significant impact on the privacy of others). In those cases, Borg will provide you with the reasons for refusal and your request will be recorded.

Complaints and Disputes

If you think that any action taken by Borg breaches this Policy, the Privacy Act or the CR Code, or otherwise wish to make a complaint or lodge a dispute, you may make that complaint or lodge that dispute directly with Borg by contacting Borg by email at privacyofficer@borgs.com.au.

Borg will endeavor to respond promptly to your complaint.

You may also contact the Office of the Australian Information Commissioner at www.oaic.gov.au and on 1300 363 992.

Updates to This Policy

This Policy will be reviewed from time to time and updated to take into account changes in other policies of Borg, new laws and regulations and changes in Borg’s business.

Glossary

This glossary will help you understand the terms and phrases used in this document.

  • Credit Reporting Body or CRB means a Credit Reporting Body as defined in the CR Code. This is the same entity that is also referred to in the Privacy Act 1988 as a ‘Credit Reporting Business’. The CRB used by Borg is Equifax;
  • Credit Information means personal information about an individual which relates to their credit profile;
  • Credit Provider means ‘Credit Provider’ as defined in section 6G(2) of the Privacy Act 1988 and includes organizations or small business operators that carry on a business, in the course of which the supplier provides credit in connection with the supply of services and the repayment is deferred for at least 7 days. In this respect, Borg is a Credit Provider. This Credit Reporting Policy only applies to Borg when acting as a Credit Provider;
  • CR Code means the Privacy (Credit Reporting) Code 2014 (Version 2), a regulatory instrument under the Privacy Act 1988 which sets out in detail a range of matters relating to credit information, including the obligations of Credit Providers like Borg;

Contact

For further information on this product, contact:

Porta Products Pty Ltd (ABN 31 003 246 357)
Address: 2 Wella Way Somersby NSW 2250 Australia
Telephone: 1300 300 547

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