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At Loans 2 Go, we always respect the privacy of our customers and are committed to protecting your privacy at all times. This policy will give you a thorough explanation of the way we collect your data and how it may be used. It may be updated from time to time so you should review it occasionally.
1. How we collect information about youData 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 currency 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 1988. 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 or the products and services of carefully selected and trusted partner organisations, unless you tell us that you prefer not to receive marketing;
- 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 - 8 Years after your loan agreement is settled
- If you have had a loan declined - 4 Years after your loan application
We may also transfer your personal information abroad to countries outside the UK or the EEA. If we do so, we will ensure the information is handled securely to standards as least as good as those in the UK and that your information is only ever used in accordance with the terms of this policy.
3. Credit Scoring
When you apply for credit we use credit scoring. This is a system that helps us to understand behaviour and its impact on an individual's propensity to pay. Credit scoring will take account of information you provide on your application, information provided by credit reference agencies and information already held on our record about you, and data. Our credit scoring processes are regularly reviewed to ensure they remain fair, effective and unbiased. If you submit an application and it is declined through this process, you can contact us within 14 days to have the decision reviewed.
4. Credit Reference Agency (CRA) data
Your loan application will be registered on your credit report under the name Loans 2 Go Limited. We are presently working with Call Credit and Equifax. Should you require more information on these Credit Reference Agencies, please visit their websites. We will undertake a search with at least one of the aforementioned agencies or in some cases both when you apply for credit thereby reviewing your credit records as well as anyone financially associated with you. The agency will keep a record of this search and place a "footprint" on your file, whether or not your application proceeds.
Once you take a loan product with us, we will report regularly to the CRAs on your payment history. If you fall behind on your 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 CRAs which may impact your ability to obtain credit in the future.
Information we and other organisations provide to the CRAs 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 your whereabouts
- undertake research, statistical analysis and system testing.
5. Information we share
We will only ever share your data with third parties for the purposes explained below and elsewhere 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. Some examples of third parties we may disclose your details to are:
- third parties who provide products or services which we reasonably believe may interest you. In such circumstances we would be acting as a broker and not a lender;
- 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.
6. 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.
7. Your bank account transactions information
You are not required to provide us with viewing access to your bank account transaction information (Transaction History) or internet banking access details. You may still be allowed to apply for a loan with us if you do not provide us with this information. However, if you do it will help us make an informed decision about whether we can lend to you.
If you agree that we may access your Transaction History the following provisions shall apply.Provide Accurate Information:
You agree to provide true, accurate, current and complete information about yourself and your bank accounts (with us or third parties) and you agree to not misrepresent your identity or your account information. You agree to keep your bank account information up-to-date, accurate and complete. It is very important to note:
- 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:
a. Checking details on applications for credit and credit related or other facilities
b. Managing credit and credit related accounts or facilities
c. Recovering debt
d. Checking details on proposals and claims for all types of insurance
e. Checking details of job applicants and employees
Please contact us if you want to receive details of the relevant fraud prevention agencies.
We and other organisations may access and use from other countries the information recorded by fraud prevention agencies.Purposes:
We will access your Transaction History using the services of a credit reference agency called Perfect Data Solutions Limited (PDS). We will use your Transaction History to assess your creditworthiness and whether the loan you seek is affordable.
Neither we nor PDS will store or have access to your internet banking credentials, PIN codes or passwords. That information is encrypted in transit and stored by a third party service provider upon their servers in a secure environment outside the EEA.Third Party Accounts:
By agreeing to allow us viewing access to your Transaction History, you authorise PDS and PDS's service providers to access third party sites designated by you, on your behalf, to retrieve information requested by us, and to register to view bank statements over a period of up to 90 days. You agree that PDS and PDS's service providers may, and are instructed by you as your agent and nominated representative, with full power of substitution and re-substitution, for you and in your name, place and stead, in any and all capacities, to access third party internet sites, servers or documents, retrieve information, and use your information, all as described above, with the full power and authority to do and perform each and every act and thing requisite and necessary to be done in connection with such activities, as fully to all intents and purposes as you might or could do in person. This will include the following purposes: copying Transaction History over a 90 day period and storing the copied Transaction History on our servers.
You agree that the Transaction History shall also be used by PDS for credit reference agency purposes and may be taken into account when producing your individual credit score which may be shared with other organisations as part of your credit record.
You acknowledge and agree that when we, PDS or PDS's service providers access and retrieve information and Transaction History from third party sites, this is undertaken as your agent, and not the agent on behalf of any third party (including the bank account provider). You should be aware that third party account providers shall be entitled to rely on this authorisation and agency granted by you. You should also be aware that this service is not endorsed or sponsored by any third party bank account providers. We would recommend that you refer to the terms and conditions of your internet banking provider if you would like more information.
You understand that allowing us to review your Transaction History is at your sole risk.
We are only able to review your Transaction History on an "as is" and "as available basis" as it is made available to us by service providers. It may not be available to us from time to time.
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.
A cookie is a small text file which is stored on a user’s computer. It can contain information about the user and the way they interact with the internet and can help make a user’s online experience more efficient. We use encrypted information gathered from them to help improve your experience of the site. For example, they help us to identify and resolve errors, or to determine relevant information to show you when you're browsing.
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.
- Session cookies: These are cookies which are necessary for the operation of the site. However these cookies are temporary, so they will be removed from your computer as soon as you close your browser.
- Persistent cookies: These are cookies that remain on your computer even after you close our website and your browser. These types of cookies allow our website to remember details about you if you visit again, like how you previously used the site.
- Analytical cookies: These are cookies that help us understand and analyse the use of our website. They record things like the number of times you visit, how long you stay on the site and how you reached our site. These cookies only track your use of our site and do not track your use of other sites on the internet.
You can decline the use of non-essential cookies by changing your browser settings to block some or all cookies. Click here for more information. Please note that we’re not responsible for the content of external websites.
If you choose to block all cookies, our site will not function as intended and you will not be able to use or access many of the services we provide. If you have blocked all cookies and wish to make full use of the features and services we offer, you will need to enable your cookies.
9. Accessing your information
The Data Protection Act 1998 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 . A £10 fee is payable. The fee covers our costs for processing your request and getting the data to you. 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 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.
10. Contacting us and Opting Out
As part of our application process, we will ask you whether we may contact you in future about products and services offered by our organisation or trusted third parties. You are given the option to ‘opt-out’ of any such contact and if you do so, you will not receive any communication apart from that concerned with your application. If you do not ‘opt-out’ at the application stage and wish to do so later, you just need to let us know by contacting using the details given below.
Please also feel free to contact us with queries, requests, or comments you may have about this policy. Our contact details are as follows:
Loans 2 Go Limited, Bridge Studios, 34a Deodar Road, Putney SW15 2NN
Tel: 0330 400 0403; E-mail: email@example.com
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DISCLOSURE: This site is operated by Loans 2 Go Limited t/a Logbook Loans, a company registered in England and Wales (registration number 4519020), at Bridge Studios, 34a Deodar Road, London SW15 2NN, which is an active member of the Consumer Credit Trade Association and is authorised and regulated by the Financial Conduct Authority. Warning: Late repayment can cause you serious money problems. For independent help, please go to Money Advice Service