We collect and store your logbook application details securely
1. How we collect information about you
Data can be collected and processed during the use of our website or when you communicate directly with us, such as through e-mail, phone or letter, for example:
- when you complete our online application form, your details will be stored;
- if you take out an agreement with us, we will ask that you provide us with documents to support your application, such as proof of address and income. Copies of those documents may be made and retained;
- during the life of any agreement with us, we will make notes of any instances of contact between us, which will include any personal information disclosed to us during that contact;
- any calls made to us or our representatives may be recorded for training and monitoring purposes; and/or
- after your agreement has been completed, we may keep records of any feedback you give us about the service provided.
The type of data collected may include personal information such as your name, address, telephone numbers, e-mail addresses, date of birth and employment details. It may also include details of the agreements you have had with us in the past or unsuccessful applications for further credit. You may also disclose sensitive information to us (such as, information about your physical and mental health, racial or ethnic origin, political opinions, religious beliefs, sexual life, medical information), which we may hold and process. Wherever possible we will always ask your explicit consent to process this information.
You are responsible for providing valid, accurate and up to date information. When you give us information about another individual or organisation it is on the basis that you confirm that they have specifically agreed to this and understand how and why their information will be used.
2. Our use of your information
Your data will always be dealt with responsibly and in accordance with the Data Protection Act 2018 and General Data Protection Regulations (GDPR) Regulation EU 2016/679. Information stored or collected about you helps us improve our service and helps to make sure that any agreement you have with us is run smoothly. For example, your information may be used to:
- Identify you when you contact us;
- carry certain credit checks through licensed credit-referencing agencies and a record of this search will be made on your credit profile;
- carry out business processes such as valuing your vehicle or assisting you with buying or selling a vehicle so we can provide or assist you in obtaining such products and services which you require;
- make credit decisions about you and check the details that you have provided to us are complete and accurate;
- administer and manage any application you make to us and, in the event you take out credit with us, to administer your account with us;
- monitor and analyse our business including conducting internal audits, using statistical analysis to develop and improve our products and services and conducting market research;
- contact you by e-mail, text message, post, telephone or in any other way about our products and services. However, we will not pass your details to any third-parties for marketing purposes;
- to identify, prevent, detect or tackle fraud, money laundering, terrorism and other crimes;
- trace your whereabouts and recover any debt you owe us; and/or
- comply with our regulatory obligations.
Any debit or credit card details provided to us either during the loan application or subsequently, will be kept and used to take further payments both on your current loan and on any subsequent loans in accordance with the instructions you've given us.
We will hold your data on our systems as follows:
- If you have taken out a loan - 6 Years after your loan agreement is settled
- If you have had a loan declined - 4 Years after your loan application
We may transfer your personal information abroad to countries outside the UK or the EEA, but if we do so we will ensure that information is handled securely to standards at least as good as those in the UK.
3. Credit Reference Agency (CRA) data
Historically it has not been Logbook Money policy to perform credit searches on new applications. However, we may do so on some applications deemed outside our standard business model or on specific products or customer bases.
For any CRA related activity Logbook Money will use the services of TransUnion (formally CallCredit) to perform the checks. You can obtain further details about TransUnion and the information it holds by clicking here which will direct you to the TransUnion website and their Bureau Policy Notice.
In the cases where credit referencing is undertaken the following will apply;
- A customer's loan application may be registered on the customer’s credit report under the name Logbook Money Limited. We may undertake a search with TransUnion when customers apply for credit thereby reviewing a customer’s credit record as well as anyone financially associated with the customer. The agency will keep a record of this search and may place a "footprint" on the customer’s file, whether or not the application proceeds.
- Once customers take a loan product with us, we will report regularly to the CRA on the customer’s payment history. If customers fall behind on payments and satisfactory proposals are not received within a month of a formal demand being issued, then a default notice may be recorded at the CRA that may impact the customer’s ability to obtain credit in the future.
Information we and other organisations provide to the CRA may be used by us and them to;
- help make decisions when checking applications, managing credit related accounts and facilities, recovering debt, checking on insurance claims, checking job applicants
- detect and prevent money laundering, crime and fraud
- verify identity
- trace customer’s whereabouts
- undertake research, statistical analysis and system testing
4. Information we share
- agents we instruct to help us collect debts owed to us or to enforce security provided under your agreement where necessary;
- regulators, government authorities, our trade association or other authorities to assist in the resolution of a complaint, to help prevent or detect fraud or terrorism, or for any other reasonable purpose identified by such an authority; and/or
- any company or person to whom we sell or transfer our business or our rights under any agreement we may have with you.
We will only ever share your data with third parties for the purposes explained in this policy. All third party companies we deal with are carefully selected and trusted companies and wherever possible contracts are put in place with them to ensure that your information is kept safe. We will only disclose your information to third parties where such a disclosure is permitted by law or where we have your permission.
5. Personal data storage & security
We know how important it is to keep your data safe, so all information collected is stored on secure servers. Transaction data is encrypted for your safety and we employ up to date security technology to ensure your data remains safe. You should understand that providing data via online transmission is not always completely secure. We cannot guarantee full protection in this respect, but we do commit to you that we will do everything we can to protect information sent to us electronically.
6. Your bank account transactions information
As part of the application process customers are requested to give LBM access to bank account transaction information using the Open Banking system.
Customers may still be allowed to apply for a loan with us if they do not provide us with this information. However, if customers do, it will help us make an early and informed decision about whether we can lend to a customer.
If information is not obtained via Open Banking, customers are requested to provide Banking and Transaction History using physical copies as has been the case previously.
The following provisions shall apply;
- Customers agree to provide true, accurate, current and complete information about themselves and the customer’s bank accounts (with us or third parties) and customers agree to not misrepresent customer identity or customer account information. Customers agree to keep customer bank account information up-to-date, accurate and complete.
- If false or inaccurate information is provided and fraud is identified, details will be passed to fraud prevention agencies.
- Law enforcement agencies may access and use this information.
- We and other organisations may also access and use this information to prevent fraud and money laundering, for example, when:
- Checking details on applications for credit and credit related or other facilities
- Managing credit and credit related accounts or facilities
- Recovering debt
- Checking details on proposals and claims for all types of insurance
- Checking details of job applicants and employees
We will access your Transaction History via the provision of a minimum of 60 days bank statements by you on application. We will use your Transaction History to assess your creditworthiness and whether the loan you seek is affordable.
We will never request or store or have access to your internet banking credentials, PIN codes or passwords.
You understand that allowing us to review your Transaction History is at your sole risk.
We cannot guarantee that allowing us to review your Transaction History will guarantee the success of your loan application or the rate at which the loan is available.
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We're giving you this information as part of our initiative to comply with recent legislation, and to make sure we're honest and clear about your privacy when using our website. We know you'd expect nothing less from us, and please be assured that we're working on a number of other privacy and cookie-related improvements to the website.
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8. Accessing your information
The Data Protection Act 2018 and General Data Protection Regulation (GDPR) (Regulation (EU) 2016/679) makes provision for you to be able to access any information we may hold on you. This is called a Data Subject Access Request, which you can make by writing to email@example.com. To help us ensure the data we hold about you is accurate and up to date, you may ask us to correct or remove any data that you believe is inaccurate by writing to firstname.lastname@example.org. You may also request information we hold about you, we will provide this information to you within 30 days.
You also have the right to request Credit Reference Agencies to provide you with information that they hold about you. To access such information you must contact them directly and please note that a fee may be payable.
9. Contacting us and Opting Out
You can "opt-out" of any marketing contact from Logbook Money Limited at any time by contacting us by email, letter or telephone. If you do so, you will not receive any communication apart from that concerned with your application.
Please also feel free to contact us with queries, requests, or comments you may have about this policy. Our contact details are as follows:
Data Protection Officer
Logbook Money Limited
PO Box 908
Harrogate HG1 9EJ
Phone: 01924 221852