Credit Reporting Policy

Australian Loans & Mortgages Pty Ltd

Version Control

Version No.Review DateList of ChangesAuthorised Person Signature
130 June 2023Establishment of new Credit Reporting Policy



  1. As part of Australian Loans & Mortgages Pty Ltd ACN
    142 403 790, Australian Credit Licence 385213 and its related bodies corporate (collectively known as “AL&M” and also referred to in this
    Policy as “the Business”, “us,” “we” and “our”) process to ensure that it continues to maintain the highest levels of professional integrity and
    ethical conduct, the Business has adopted this Credit Reporting Policy (Policy) to guide and direct the Business’ approach to Credit Reporting.
  2. The key objective of this Policy is to ensure that the Business complies with its legal and ethical obligations in respect of
    Credit Reporting.
  3. This Policy is also intended to set out how we collect, use, disclose and otherwise manage credit related personal information.

Operative provisions

1. Definitions

1.1 Definitions

In this document:

ACLmeans Australian Credit Licence.
The Businessmeans Australian Loans & Mortgages Pty Ltd ACN 142 403 790 and any related bodies corporate that might exist from time to time.
Compliance Officermeans the Employee(s) who are responsible for managing the compliance of the Business.
Credit Informationhas the same definition as that in section 6N of the Privacy Act 1988(Cth).
Employeemeans any of the Business employees, representatives, officers or directors.
Representativemeans any business Employee who:

  1. provides advice or deals in the credit services products authorised under the Business’ ACL; or
  2. is listed on ASIC’s register as an Authorised Representative of the Business’ ACL (where applicable).
Responsible Manager or RMmeans any individual nominated on the Business’ ACL as being responsible for significant day-to-day decisions about the Business’ credit services business.

2. This Policy

2.1 Effective Date

This Policy is effective from the above date.

2.2 Supersedes

This document supersedes all previous documents, practices, and policies relevant to Credit Reporting.

2.3 When does this Policy apply?

  1. Policy applies to all RMs, directors, officers and Employees of the Business at all times, and the requirements remain in
    force on an ongoing basis.
  2. This Policy represents the standards which apply throughout the Business. Where the Business relies on a third party for compliance
    with this Policy, the Business must ensure that such reliance is permissible under and complies with the applicable law and is consistent
    with this Policy.

2.4 Policy Review

This Policy will be reviewed on at least an annual basis by the RM of the Business, having regard to the changing circumstances of the Business. The
RM will then make any changes as necessary to ensure the ongoing compliance of this Policy.

3. What is Credit Information?

3.1 Credit Information

  1. Credit information is personal information that has a bearing on credit that you have applied for, or credit that has been
    provided to you. This includes:

    1. credit for personal, domestic or household purposes; and
    2. credit in connection with a business.
  2. It can also cover information about you as a guarantor of a loan or as an insured party under a credit related insurance Policy.

4. Reporting of Credit Information

4.1 If you apply for credit from us, we may collect and hold various information related to you.

  1. We also collect and use all types of ‘Credit Information’, ‘credit eligibility information’ and ‘CP–derived information,’ as defined
    in the Privacy Act 1988 (Cth) (Privacy Act).
  2. We may collect and give your Credit Information to a Credit Reporting Body (CRB). The CRB’s we deal with are:
    • Equifax; and
    • Illion.

4.2 The role of CRB’s

For contact details and information on how CRBs manage credit related personal information, please see their privacy policies available on their

5. Information we may collect about you

5.1 Types of Credit Information

The information we collect includes:

  1. identity details;
  2. basic information about your credit account (for example, when it was opened);
  3. payments information;
  4. details about information requests we or other credit providers make about you to a CRB;
  5. information about certain overdue payments and serious credit infringements as well as information about payments or subsequent
    arrangements in relation to either of these;
  6. various publicly available information like bankruptcy, insolvency and credit-related court judgements;
  7. the fact that you have applied for services from us; and
  8. the fact that we are a credit provider to you.

5.2 CRB’s Credit Information

  1. ‘Credit eligibility information’ is the information CRBs provide to us. Primarily, this information relates to your dealings with
    other credit providers including:

    1. (i) banks;
    2. (ii) other financial institutions; or
    3. (iii) other organisations that may provide you with credit in connection with their products or services.
  2. Credit Information may also include certain credit worthiness information that we derive from the data that we receive from a
  3. Occasionally, we may also collect credit eligibility information about you from other credit providers. The information we can
    receive from a CRB has been extended as part of our comprehensive credit reporting (see below).
  4. ‘CP-derived information’ means any personal information that is derived from information given to us by CRBs and that has bearing
    on your credit worthiness. This could be, for example, a credit score.

5.3 Credit Information

In this Policy, we refer to ‘credit information’ to capture some or all information referred to above (as the context requires).

6. Why is Credit Information Collected?

6.1 The main reason we collect, use, hold and disclose Credit Information is to provide you with products and services.

  1. This includes:
    1. checking whether you are eligible for the product or
    2. providing the product or service;
    3. helping manage the product or service; and
    4. checking your identity.
  2. We use information from CRBs to confirm your identity, assess your application for credit, manage our relationship with you and
    collect overdue payments. We may also use this information as part of reaching our own internal assessment of your creditworthiness.

6.2 Acting as a Guarantor

If you are offering to act as guarantor, your Credit Information may be necessary to assess whether the borrower will be eligible for a loan with
you acting in that position.

6.3 Other uses of Credit Information

  1. We may also use your Credit Information for other purposes.
    For example:

    1. to comply with legislative or regulatory requirements in any jurisdiction;
    2. prevent fraud, crime or other activity that may cause harm in relation to our products or services; and
    3. help us run our business.
  2. We may also use your Credit Information to inform you on products or services we think may interest you, subject to legal
    restrictions on using this type of information for marketing purposes.

7. How do we hold credit Information?

7.1 Secure Data Centres

  1. Much of the information we hold about you will be stored electronically in secure data centres located in Australia and in cloud-based. Some information we hold about you will be stored in paper files.
  2. We use a range of physical and electronic security measures, such as locks and passwords, to protect the security of the Credit Information we hold. We also train our employees to keep information secure.

8. Who do we disclose your Credit Information to, and why?

8.1 The way we approve and manage credit involves a range of tasks.

  1. Some tasks are carried out for us by third party service providers, both in and outside Australia.
  2. In carrying out these tasks, service providers may have access to credit related personal information. To protect your Credit Information, the Business enters into contracts with the service providers that require them to comply with the Privacy Act. These contracts oblige them to only use the Credit Information we disclose to them for the specific role we ask them to perform.

8.2 Disclosure to CRB’s

  1. When we exchange your Credit Information with CRBs, this
    information is used to:

    1. validate your identity;
    2. assess your credit application; and
    3. manage your account with us.
  2. When you submit an application for a product with the Business, we will obtain a credit report on you from a CRB. This may occur at any time after you commence your online application. The enquiry will be listed in your credit file that is maintained by the relevant CRB.

8.3 Disclosure to Third Party’s

Generally, we disclose Credit Information to organisations that help us with our business. These may include:

  1. our agents, contractors and external service providers (for example, mailing houses and technology service providers);
  2. credit representatives who sell products and services on our behalf;
  3. other organisations, who jointly with us, provide products or services to you;
  4. other financial services organisations, including banks, superannuation funds, stockbrokers, custodians, funds managers and portfolio service providers;
  5. organisations involved in our funding of loans (including securitisation trustees, investors and their advisers);
  6. credit reporting bodies;
  7. organisations that provide us with insurance to cover our lending risks;
  8. The Business’ financial advisers, legal advisers or auditors;
  9. your representatives (including your legal adviser, financial adviser, executor, administrator, guardian, trustee, or
  10. government agencies or dispute resolution schemes that assist consumers in relation to credit; and
  11. where permitted by law, debt collection agencies or other lenders, such as where you have given mortgage security over the same property to us and another lender.

We may also disclose your Credit Information to others outside the Business where:

  1. we are required or authorised by law;
  2. where we have a public duty to do so;
  3. you have expressly consented to the disclosure;
  4. the consent may be reasonably inferred from the circumstances; or
  5. we are otherwise permitted to disclose the information under the Privacy Act.

8.4 Repayment Loan History

As permitted under the Privacy Act, we may participate in repayment history reporting as part of our ‘comprehensive credit reporting.’ When we receive a loan application, we may receive information about whether the applicant has a history of making required repayments on time and whether any have been made after they are due.

8.5 Inclusion of Relevant Dates

For all borrowers, we may periodically report the same information to CRBs. As part of our comprehensive credit reporting, we may also disclose the date an account is opened and closed, credit limits and the type of credit. Such information may also be provided by a CRB.

8.6 More Information

  1. For more information about comprehensive credit reporting, please visit
  2. If you are having trouble making your repayments, we can help. Please contact for a confidential conversation about your situation.

9. Access to and correction of Credit Information

9.1 Gaining Access to Credit Information

  1. You can request access to Credit Information that is held by us. You can also ask to correct any inaccurate information we hold or have provided to others. To do so, please contact us with an explanation and materials outlining the inaccuracy.
  2. There is no fee for requesting that your Credit Information is corrected or for us to make the corrections. In processing your request for access to your Credit Information, a reasonable cost may be charged. This charge covers, for example, locating the information and supplying it
    to you.

9.2 Refusal to Provide Access

  1. There are some circumstances in which we are not required to give you access to your Credit Information or certain types of Credit Information as requested by you.
  2. If we refuse to give you access to or refuse to correct your Credit Information, we will give you a notice explaining our reasons, except where it would be unreasonable to do so.
  3. If we refuse your request to correct your Credit Information, you also have the right to request that a statement be associated with your Credit Information noting that you disagree with its accuracy.
  4. If we refuse your request to access or correct your Credit Information, we will also provide you with information on how you can
    complain about the refusal.

10. Retention of Credit Information

10.1 Retention period of Credit Information – general

  1. The retention period for Credit Information that is held by a CRB is as follows:
ItemCredit InformationRetention Period
1Consumer credit liability informationThe period of two (2) years that starts on the day on
which the consumer credit to which the information
relates is terminated or ceases to be in force.
2Repayment history informationThe period of two (2) years that starts on the day on
which the monthly payment to which the information
relates is due and payable.
3Financial hardship informationThe period of one (1) year that starts on the day on
which the monthly payment to which the information
relates is due and payable.
  1. Statement that an information request has been
    made in relation to the individual by a credit provider,
    mortgage provider, mortgage insurer or trade insurer.
  2. The type of consumer credit, commercial credit
    and amount of credit sought in an application by an
    individual to a credit provider.
The period of five (5) years that starts on the day on
which the information request to which the information
relates is made.
5Default informationThe period of five (5) years that starts on the day on
which the credit reporting body collects the information.
6Payment informationThe period of five (5) years that starts on the day on
which the credit reporting body collects the default
information to which the payment information relates.
  1. New arrangement information regarding consumer
    credit defaults
  2. New arrangement information regarding serious
    credit infringements
The period of two (2) years that starts on the day on
which the credit reporting body collects the information
referred to in that subsection.
8Court proceedings informationThe period of five (5) years that starts on the day on
which the judgement to which the information relates is
made or given.
9The opinion of a credit provider that the individual has
committed a serious credit infringement in relation to
the consumer credit provided
The period of seven (7) years that starts on the day on which the
credit reporting body
collects the information.

11. Resolving your Credit Information concerns and complaints
– your rights

11.1 Concerns and Complaints

  1. If you are concerned about how your personal information is being handled or if you have a complaint about a breach by us under the Australian Privacy Principles, please contact us.
  2. We will acknowledge your complaint as soon as we can after receipt of your complaint. We will contact you if any further information is required to resolve your complaint.
  3. We aim to resolve complaints as quickly as possible. We strive to resolve complaints within five business days, but some complaints take longer to resolve. If your complaint is taking longer, we will let you know what is happening and a date by which you can reasonably expect a response.

11.2 If you are unhappy with our response, there are other bodies you can go to.

The Australian Financial Complaints Authority (AFCA) can consider most privacy complaints involving providers of credit services. AFCA can be contacted at:

Australian Financial Complaints Authority
GPO Box 3 Melbourne VIC 3001
Phone: 1800 931 678

Under the Privacy Act, you may complain to the Office of the Australian Information Commissioner (OAIC) about the way we handle your personal information. The OAIC can be contacted at:

GPO Box 5218 Sydney NSW 2001
Phone: 1300 363 992

12. Contact us

12.1 If you would like more information about how we protect your privacy, please contact us using the details below:

  1. Group General Manager / Groups Operations Manager:
    1. Phone: 1300 552 755
    2. Post: Group General Manager / Group Operations Manager Australian Loans & Mortgages Pty Ltd Suite 9.03,
      Level 9, 56
      Pitt Street, Sydney NSW 2000
    3. Email:
  2. Folio Mortgage & Finance:
    1. Phone: 1300 304 572
    2. Email:

Alternatively, you can also contact the OAIC if you have a complaint about how we handle your personal information:

  1. OAIC:
    1. Phone: 1300 363 992
    2. Post: GPO Box 5218
      Sydney NSW 2001
    3. Website:

13. Changes to the Credit Reporting Policy

13.1 Where to find Changes to the Credit Reporting Policy

We may change the way we handle your Credit Information from time to time for any reason. If changes occur, we will update this Policy. The most recent version is available on

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