The Data Protection Act requires companies and individuals who process and retain information about their customers to tell the customer how the information will be used and to what purposes it will be put. The Act does not restrict itself only to information kept on a computer; it is relevant to any ordered filing system. This policy describes how Evolution Money Limited will process personal data relating to customers. We will not use your personal data in any other way without first informing you and will not provide your details to lenders without your permission.
We will collect information which you provide to us when you enquire about or apply for finance, which includes information gained from the application form and via telephone calls, SMS messages and responses to direct marketing communications made to our company. This may include certain sensitive personal data.
Evolution Money Limited will be primarily responsible for the data which we hold about you. We may also collect data about you from our searches at credit reference agencies, providing you have given us permission to do so.
We may keep your information for several years. We will not retain your personal information for longer than is necessary for the maintenance of your account, or for legal or regulatory requirements.
You can ask for the information not to be used to offer you other products. We have a duty to keep the personal information which we hold about you up-to-date and accurate and secure from misuse or accidental loss or damage.
We work with a small number of selected companies who may be able to help you find alternative sources of credit or help and advice with debt management. If your application for credit with us is declined we may provide contact details for these companies in our communications and / or if we think these companies may be able to help with your particular circumstances we may pass your details onto them to enable them to contact you using the contact means you have provided (including email, telephone, mail, SMS, text and / or fax). By submitting your application to us you agree to these conditions.
NOTE – CREDIT REFERENCE SEARCHES AND FINANCIAL LINKS
Please note that searches at credit reference agencies will be shown in any other searches which are made in connection with applications made by you and / or other members of your household. The disclosure of multiple searches may adversely affect your credit profile and may make it harder for you to secure credit.
Information held about you by a credit reference agency may already be linked to records relating to another person, for example your spouse, and for the purpose of your loan application you will be treated as financially linked. Your loan application will be assessed with reference to all linked records.
If you have confirmed you are linked financially with another person, you are declaring that you are entitled to (a) disclose information about that person and / or anyone else referred to by you and (b) that you authorise us and any lender involved in the application to search, link and/or record information at credit reference agencies about you and /or anyone else referred to by you.
The names and addresses of the main credit reference agencies are shown in the credit references agencies section. We may use one or more of these agencies. Information about which credit reference agency was used will be made freely available.
All lending companies have their own individual privacy policies and customers should refer to these in respect of how they will use personal data.
(The agencies do not keep ‘blacklists’ nor do they give any opinion about whether or not credit should be granted.) The main credit reference agencies are:
Consumer Services Team,
PO Box 491,
Consumer Help Service,
PO Box 8000,
Credit File Advice Service,
PO Box 1140,
Credit reference agencies keep a wide range of information. This includes information from the electoral roll (sometimes known as the voters roll) and records of most county court judgements and bankruptcies. They also retain information relating to previous and existing credit and a record of searches made against the file. The lenders share information through the agencies providing a history of how punctually payments are being made or have been made. Loan information is usually held on file for 6 years once settled. Details of the voters roll may be held for much longer. Information about credit searches is kept for 12 months.
Reports from CIFAS relating to fraud and fraud avoidance are also available to most lenders – these contain information indicating that fraud, or attempted fraud, has been notified by a lender. The information might not directly relate to you, it might relate to someone who has tried to impersonate you. Data available to members of CIFAS may also be used to help make decisions on motor, household, credit, life and other insurance proposals for you and members of your household.
CML Repossession Register
The Council of Mortgage Lenders, Repossession Register is available through the main credit reference agencies. If you have had a property repossessed or have given it up voluntarily this will show on the register.
A file may also show a “gone away” marker indicating that a member of the “Gone Away Information Network” has reported that they cannot trace a customer who is in arrears with payments. Alternatively, the marker may indicate a new address which the “gone away” has been traced to.
Files in this register contain detailed information on applications made and loans given. It is aimed at tracing fraudsters who use different combinations of information to obtain credit dishonestly. It checks and counter checks information given on application forms. If we use any of the above agencies they will be able to confirm their contact addresses. CIFAS information is intended to warn lenders and act as a protection for innocent customers.
You are able to see what information we hold about you. You can ask us for a copy at anytime. We will also tell you where the information was obtained. You will need to write and we may charge a small fee (£10 maximum). We will reply within 40 days from receipt of your fee.
If you wish to see the information contained on a credit reference agency file you can do so by writing to the relevant agency. The agency must respond within 7 working days. There is a small fee of £2 required. If your credit reference file contains information about other people with whom you have no financial connection or if it contains information which is incorrect you can ask for the entry to be corrected, removed, or have a note put on the file explaining why you think the information is wrong. The agency will not remove correct information.
The Information Commissioner provides a useful leaflet which explains how to request changes to your credit reference file. The easy to read leaflet includes examples of letters and details of various actions you may take to amend a file.
Information is available at www.dataprotection.gov.uk
Should you wish to obtain a copy of the personal data we hold on you please write to the Compliance Manager, Evolution Money Limited, 9 Portland Street, Manchester, M1 3BE enclosing your payment of £10 for our administration costs. As soon as we are satisfied as to your identity we will send you, within 40 days, a copy of all the data we hold concerning you. Please contact us at the same address if you have any reason to believe the data we hold on you is inaccurate.
We may edit or amend this Data Protection Policy from time to time. If we make any substantial changes in the way we use your personal information we will notify you by posting a prominent notice on the home page of our website.
If you have any questions about our Data Protection Policy, please contact us at: Compliance Manager, Evolution Money Limited, 9 Portland Street, Manchester, M1 3BE