Who are we?
‘We’, ‘us’ and ‘our’ refer to Oak Laurel, A.C.N. 169 714 194 PTY LTD, ABN 78 169 714 194 and our related businesses.
We are committed to protect your privacy
We are committed to respect your personal information and abide by the Privacy Act and any other relevant laws.
We acknowledge that we will only use your personal information for the purpose that we have collected it or as allowed by law.
What we consider as personal information is information from which your identity is reasonably apparent. This information may include information or an opinion about you.
The kinds of personal information we may collect and hold about you include your names, address, date of birth, occupation, business details, account details, credit information and any other information we made need to identify you.
If you are applying for finance/credit we may also collect other information such as the length of time you have been at your current and previous address, the number and ages of your dependants and cohabitants, your employment particulars and proof of assets, liabilities, earnings and expenses.
Finance/credit information that we may collect is used with other information to assess your eligibility to be provided with finance/credit. This may include any loans that you have, your repayment history of those loans, and any defaults. Usually, credit information is exchanged between finance/credit providers and credit reporting bodies. You can obtain your own credit file for free from the credit reporting bodies, for example from here: www.mycreditfile.com.au .
We will get your consent from you before we collect any sensitive information about you. Sensitive information is personal information such as information relating to your sexual preferences, criminal record, racial or ethnic origin, memberships in trade or professional associations or trade unions, political persuasion, or health.
If we need to make payments to you or if you intend to make purchases from or through us we will collect your payment information. We may collect payment information in order to process your payments.
Why we collect your personal information
We collect your personal information so that we can provide you with the credit assistance that you have sought from us. This may include assessing your application for finance/credit and managing that finance/credit. We may also collect your personal information for the purposes of direct marketing and we may offer you other products and services from time to time.
Disclosure of Personal Information
We will never unnecessarily exchange your personal or business information with any third party for any reason, unless compelled by law. We may disclose your personal information to other organisations that provide products or services used or marketed by us. The types of organisations we may disclose your personal information to include:
- Mortgage Brokers
- Mortgage Insurers,
- Credit reporting bodies,
- Recoveries firms,
- Debt collectors,
- Trade insurers,
- your employer, referees or identity verification services,
- companies that provide information and infrastructure systems to us;
- Other mortgage intermediaries,
- Other organisations which assist us such as printers, mailing houses, call centres,
- Other organisations, agents or advisers that may have or are considering having an interest in your finance, or in our business,
- Debt collection agencies to recover any amounts you owe us,
- anyone, where you have provided us consent,
- where we are required to do so by law, such as under the Anti-Money or Laundering and Counter Terrorism Financing Act 2006 (Cth) or in accordance with a subpoena or summons issued by a court;
How do we collect your personal information?
We will collect your personal information directly from you, where it is reasonable and practical. We may also collect your personal information from other organisations and people including referrers, referees, credit reporting bodies, finance brokers, lawyers and accountants.
We may also collect other types of information, such as your age and gender to help us identify trends in our client base. You do not have to provide this information if you do not want to.
Before we disclose any of your personal information to another person or organisation, we will take all reasonable steps to satisfy ourselves that:
the person or organisation receiving your personal information has a commitment to protecting your personal information to a level at least equal to our commitment, or you have consented to us making the disclosure.
We may use cloud network computer storage to store personal information that we hold. The cloud storage and the IT servers may be located in Australia or outside Australia.
We may disclose your personal information or credit information to overseas entities that provide business support functions and services to us. We can provide you with more information about them if requested.
We may collect the following types of credit information and exchange this information with credit reporting bodies and other entities:
Existing credit liability information including the name of the credit provider, the credit provider’s Australian Credit Licence, the type, terms and conditions of the finance, when the finance was entered into and/or terminated, the maximum amount of finance available; repayment and default information; information about finance that you are applying for; court proceedings information or any serious credit infringement that you may have committed; and publicly available information.
We exchange this credit information for the purposes of assessing your application for finance and managing that finance.
This credit information may be held by us in electronic or paper form. We may use cloud storage to store the credit information we hold about you.
We may use your personal information to provide you with current information about products or services (including finance products and services) being offered by us or any company with whom we are associated.
If you do not wish to receive marketing information, you may at any time opt out by emailing us. We will take all reasonable steps to meet your request within a reasonable timeframe.
Updating your personal information
The accuracy of the personal information we hold about you is important to us. You may request us to update your information if it changes or you believe it to be incorrect, inaccurate or out of date. We will correct your personal information if appropriate and aim to respond to you about any changes within 30 days of your request. We aim to respond to your request quickly, however we may need to contact other entities which may increase the time required for us to respond. We may ask you to inform us of any changes to your personal information. We will generally rely on you to ensure the information we hold about you is accurate and complete.
Access and correction to your personal and credit information
Upon request, we will provide access to the personal information that we hold on you. We may charge a fee for our costs of retrieving and supplying this information to you. We aim to respond to your request quickly, however we may need to contact other entities which may increase the time required for us to respond. We aim to respond to you within 30 days of receiving your request.
We are not required to provide you with access to your personal information is some situations, for example, if it relates to existing or anticipated legal proceedings, or if your request is vexatious.
If we deny you access to the personal information we hold about you we will provide explanation to you.
Disclosure of government identifiers
If we collect information on you that has government identifiers, such as your tax file number, we will not use or disclose this information except as required by law. We will not use a government identifier to identify you.
Doing business with us without identifying yourself
In most cases we will need to identify you to do business with you. However, where it is lawful and possible to do so, we will allow you to do business with us without providing your personal information to us.
Will your information be safe with us?
To ensure that your information is protected, we will take reasonable steps to keep it secure. We will also take reasonable steps to protect any personal information from unauthorised access, misuse, loss and modification or disclosure. We may store your personal information in paper and electronic form.
Advertising and remarketing
We may use various remarketing or retargeting and behavioural targeting services and tools to promote our business and website www.oaklaurel.com.au across the Internet. These tools will display relevant ads tailored to you based on what parts of our website you have viewed by placing a cookie on your device.
What are cookies?
When a website is visited, that site may write a cookie (a small computer file) to the computer that is visiting the site. Depending on the individual website, the cookie may store an array of information about the actions performed during the site visit .
What if I want to turn cookies off?
You can stop your browser accepting cookies, or stop it accepting cookies from a particular website. Settings will typically be found in the ‘options’ or ‘preferences’ menu of your browser. In order to understand these settings, the following links may be helpful, otherwise you should use the ‘Help’ option in your browser for more details.
You can opt out of interest based advertising here: http://www.networkadvertising.org/choices/
You may contact our complaints officer if you are unhappy with the way we have treated with your personal information, or our compliance with the Privacy Act.
We aim to get back to you within 7 days to confirm that we have received you complaint and provide a response to you with a decision about your complaint within 30 days.
If you are unhappy with our response you can make a complaint to our External Dispute Resolution Scheme, the Credit Ombudsman Service Ltd (COSL). The Credit Ombudsman Service Ltd (COSL) can be contacted on either www.cosl.com.au or 1800 138 422 or the Privacy Commissioner which can be contacted on either www.oaic.gov.au or 1300 363 992.
You can learn more about the Privacy ACT and your rights at www.oaic.gov.au.
You may request further information about the way we manage your personal or credit information by contacting us.