Car Loans Terms & Conditions

ENCOMPASS CREDIT UNION PRIVACY PROTECTION OF INFORMATION The Credit Union may only give limited information about you to a credit reporting agency eg: • identity particulars - your name, sex, address (inc. the previous two addresses), date of birth, name of employer, and driver’s license number • the fact that you have applied for credit and the amount • the fact that the Credit Union is a current credit provider to you • loan repayments overdue by more than 60 days and debt recovery has started • advice payments are no longer overdue • our opinion that you have committed a serious credit infringement • cheques for $100 or more which have been dishonoured more than once This information may be given before, during or after the provision of credit to you. Please see our Privacy Policy for details of our commitment to the National Privacy Principles. CREDIT REPORT CONSENT STATEMENT BY APPLICANT(S) FOR CREDIT 1. Consent to Credit Report I/we agree that the Credit Union may obtain a consumer or commercial credit report about me/us from a credit reporting agency for assessing my/our application for credit or for collecting overdue payments. 2. Giving Information to a Credit Reporting Agency The Credit Union has informed me/us that it may only give limited information about me/us to a credit reporting agency examples of which are set out above under ‘Privacy Protection of Information’. 3. Exchanging Information with Other Lenders I/we agree that the Credit Union may exchange information about me/us with the credit providers named in this application or a consumer credit report issued by a credit reporting agency: • to assess an application by me/us for credit • to notify other credit providers of a default by me/us • to exchange information with other credit providers on the status of this loan where I am in default with other credit providers • to assess my/our credit worthiness. • to assist in collecting overdue payments I/we understand that the information exchanged can include anything about my/our credit worthiness, credit standing, credit history or credit capacity that credit providers are allowed to exchange under the Privacy Act. 4. Access to Commercial Credit Information For the purpose of assessing my application for credit, I consent to the Credit Union obtaining a report containing information about my commercial activities or commercial credit worthiness, from a business, which provides information about the commercial credit worthiness of persons. 5. Disclosure of Information necessary for Funding Mortgage Credit by Securitisation If the Credit Union proposes to arrange the funding for the credit I am applying for by means of an arrangement involving mortgage securitisation, I consent to the Credit Union disclosing any report or information about my credit worthiness, credit standing, credit history or credit capacity, whether in a written or other form to persons or bodies involved in funding mortgage credit by means of securitisation, directly or indirectly through other persons or bodies so involved, in order to enable those persons or bodies to perform tasks which are necessary in the funding and management of the mortgage credit by such means. 6. Access to Consumer Credit Information for a Commercial Credit Application If my application is for commercial credit, I consent to the Credit Union, in order to assess my application, obtaining a credit reporting agency a credit report about me. 7. Access to Consumer Credit Information by Trade Insurers If my application is for commercial credit, I consent to a trade insurer obtaining a credit report about me containing consumer credit information, in order to assess whether to insure the credit provider for the credit given to me, or the risk of providing insurance, or to assess the risk of a default by me on this credit. 8. Authority for Mortgage Insurers I authorise a mortgage insurer to obtain my credit report from a credit reporting agency and in accordance with Section 18N(1)(bb) of the Privacy Act, Encompass to disclose a report or information to a mortgage insurer to assess whether to insure Encompass for the mortgage credit given to me or to assess the risk of default by me on the mortgage credit, or for any purpose arising under the contract of mortgage insurance between Encompass and the mortgage insurer.