In this credit reporting policy (Credit Reporting Policy), “we“, “us” and “our” means Thread Capital Partners Pty Ltd (ABN 26 644 823 969) and includes a reference to our related entities. The word “you” includes a reference to the corporation or other persons seeking to engage us to provide capital arrangement services.
What is this Credit Reporting Policy about?
The Privacy Act 1988 (Cth) (Act) contains provisions regarding the use and disclosure of credit information, which applies in relation to the provision of both consumer credit and commercial credit. Where we provide terms of payment of accounts which are greater than 7 days, we are considered a ‘credit provider’ under the Act in relation to any credit we may provide you (in relation to the payment of your account with us).
This Credit Reporting Policy details our management of credit-related personal information about individuals. It does not apply to corporations.
What is credit-related personal information?
Credit-related personal information includes ‘credit information’, ‘credit reporting information’, ‘credit eligibility information’ and ‘regulated information’ (as those terms are defined in the Act).
What credit-related personal information do we collect and hold?
If you apply for credit from us (in the form of us providing you with services and allowing a time in excess of 7 days to pay the debt for those services), we may collect and hold various information related to your financial position.
We may also collect and use all types of ‘credit information’, ‘credit eligibility information’ and ‘CP derived information’ (as those terms are defined in the Act).
Why do we collect, hold and use your credit-related personal information?
We primarily collect, hold and use your credit-related personal information so that we can:
(a) determine whether we will provide or continue to provide services to you on deferred payment arrangements, and to manage our relationship with you;
(b) perform internal functions such as general administration, management and reporting, including invoicing and processing payment transactions; and
(c) carry out other purposes related to our business as required or permitted by law.
How do we collect your credit-related personal information?
We will generally only obtain credit-related personal information from you, or from someone representing or assisting you. However, if it is unreasonable to collect it from you directly, we may collect it from third parties with your consent. For this purpose, we may rely on any consent form(s) which we ask you to sign from time to time (including our privacy consent form).
We may also collect credit-related personal information from credit reporting bodies or from other credit providers where permitted by the Act. If we collect details about you from someone else, we will, whenever reasonably possible, make you aware that we have done this and why, unless such information:
(a) is collected from publicly available sources, including but not limited to any court proceeding information, personal insolvency information or credit related publicly available information; or
(b) is collected as otherwise required or authorised by law.
If credit-related personal information is not collected by us, it may prevent us from engaging in certain activities with you and your business, including deferred payment arrangements.
Who do we disclose your credit-related personal information to, and why?
Generally, we only use or disclose your credit-related personal information for the purposes for which it was collected (as set out above). We may disclose your credit-related personal information to:
(a) our related entities, or a person who manages credit, to manage credit or for related internal management purposes that are directly related to the provision or management of commercial credit;
(b) external dispute resolution providers; and
(c) other persons where required or authorised by law.
In accordance with the Act and the Privacy (‘Credit Reporting’) Code 2014 (Version 2.1) (Code) we may also disclose to a credit reporting body information including:
(a) your identity details, such as your name, address, contact number and email address;
(b) the fact that, as we provide terms of payment of accounts which are greater than 7 days, we are a credit provider to you;
(c) any failure by you to meet your payment obligations in relation to consumer credit or any serious credit infringement you commit;
(d) repayment history or default information relating to payments you owe us;
(e) advice that payments owed to us are no longer overdue and the date on which overdue payments were made; and
(f) other credit-related personal information we collect in accordance with this Credit Reporting Policy or otherwise derive from the credit-related personal information you or a credit reporting body provides about your credit worthiness.
Credit reporting bodies may include the credit-related personal information we provide to it in reports, which it then provides to other credit providers to assist those other credit providers to assess your credit worthiness. If we disclose details about you to a credit reporting body, we will, whenever reasonably possible, make you aware that we have done this and the credit reporting body to whom we will or have disclosed your credit-related personal information.
You can request a credit reporting body not to use your credit reporting information for the purposes of pre-screening of direct marketing. You can also request a credit reporting body not to use or disclose your credit reporting information if you believe on reasonable grounds that you have been, or are likely to be, the victim of fraud.
How do we store and hold credit-related personal information?
Access to and correction of your credit-related personal information
You may access or request correction of the credit-related personal information that we hold about you by contacting us. Our contact details are set out below. There are some circumstances in which we are not required to give you access to your credit-related personal information. We will provide you with a written notice that sets out the reasons for the refusal, unless it would be unreasonable to provide those reasons.
We do not charge you for requesting access to your credit-related personal information, but we may require you (where permitted by law) to meet our reasonable costs in providing you with access (such as photocopying costs or costs for time spent on collating large amounts of material). We may need to consult with credit providers or other credit reporting bodies to resolve the correction request.
We will respond to your requests to access or correct credit-related personal information in a reasonable time and will take all reasonable steps to ensure that the credit-related personal information we hold about you remains accurate, and up to date, complete, relevant and not misleading.
If you wish to make a complaint, please contact us as set out below. Within 7 days we will acknowledge the complaint in writing. We will then investigate the complaint and consult with third parties we consider it necessary to consult with. We will provide you our decision within 30 days from the date of your complaint (unless you have agreed to a longer time frame in writing).
If you have any questions, comments, requests or concerns, please contact us at:
David Clarke Managing Director and Privacy Officer
A: Suite 2.1, Level 2, 328 Scottsdale Drive, Robina, QLD, 4226
Changes to this policy
From time to time, we may change this Credit Reporting Policy. Any changes to this Credit Reporting Policy will be published on our website.
The policies on the management of credit-related personal information of the credit reporting bodies we may use can be obtained from their websites (see below).
Name of Credit Reporting Provider
Credit reporting policies
Equifax Pty Ltd
illion Australia Pty Ltd
Effective: March 2021