Privacy Protection of Information – Application for Credit 

Important Notice to Applicant(s) for Credit [Section 18e (8) (C) Privacy Act 1988] 

First Option may give information about you to a credit reporting agency for the following purposes: 

·         to obtain a consumer credit report about you, and/or 

·         allow the credit reporting agency to create or maintain a credit information file containing information about you. 

This includes: 

·         identity particulars – this only includes your name, sex, date of birth, current known address, two immediately previous addresses, your current or last known employer, and your driver’s licence number; 

·         the fact that you have applied for credit and the amount; 

·         the fact that First Option  is a credit provider to you; 

·         payments overdue for at least 60 days, when First Option has taken steps to recover; 

·         advice that payments are no longer overdue; 

·         cheques for an amount greater than $100, drawn by you which have been dishonoured more than once; 

·         the opinion of First Option that you have committed a serious credit infringement; 

·         when the credit provided to you has been discharged; 

·         court judgments or bankruptcy orders made against you. 

This information may be given before, during or after the provision of credit to you. 

Giving Information to a Credit Reporting Agency [section 18E (8) (c) Privacy Act 1988] 

First Option has informed me that it may give certain personal information about me to a credit reporting agency. 

I understand that First Option can only give limited kinds of information which are set out in the Privacy Act 1988 and examples of which are listed above. 

Exchanging Information with Other Credit Providers [section 18N (1) (b) Privacy Act 1988] 

I agree to First Option checking personal information about me with any credit provider named in my credit application, and with other credit providers that may be named in a credit report issued by a reporting agency, for any of the following purposes: 

·         to assess my creditworthiness; 

·         to assess an application by me for credit 

·         to help me avoid defaulting on my credit obligations; 

·         to notify a default by me; 

·         the collection of overdue payments. 

I understand that this information can include any information about my creditworthiness, credit standing, credit history or credit capacity that credit providers are allowed to give or receive from each other under the Privacy Act 1988. 

Access to Commercial Credit Information [section 18L (4) Privacy Act 1988] 

For the purpose of assessing my application for consumer credit, I consent to First Option obtaining a report containing information about my commercial activities or commercial creditworthiness, from a business which provides information about the commercial creditworthiness of persons. 

Access to Consumer Credit Information for a Commercial Credit Application [section 18K (1) (b) Privacy Act 1988] 

If my application is for commercial credit, I consent to First Option , in order to assess my application, obtaining from a credit reporting agency a credit report about me containing consumer credit information. 

Disclosure of Information – Securitisation Arrangements [section 18K (1) (ab) and 18N (1) (ga) Privacy Act 1988] 

I consent to First Option providing my personal information to a person who requests a credit report for the purpose of assessing the risk in purchasing or funding the loan by First Option to me under a securitisation arrangement.