Understanding Personal Information
- that the customer has applied for credit with you and that you have supplied credit to the customer;
- payment details;
- dishonoured cheques;
- if the customer has been involved in court proceedings; and
- any other information that may affect the customer’s credit worthiness and their eligibility for credit.
You use of a personal information clause should set out how you will collect and use the personal information. For example, will you use it for record keeping, marketing and other purposes?
Disclosure of Personal Information Clause
You should also include in your disclosure of personal information clause that you may disclose personal information for purposes such as to third party services that assist you in your business. You should set out that you may disclose information specifically in relation to credit information to credit-reporting agencies, courts, tribunals and regulatory authorities where customers fail to pay for goods provided by you to them;
- including disclosing that the customer has applied for credit with you and that you have supplied credit to the customer,
- payment details including when payments are more than 60 days overdue and where you have commenced debt collection actions to retrieve payments from customers;
- evidence of dishonoured cheques; and
- if the customer has been involved in court proceedings relating to non-payment of goods and/or services and any other information that may affect their credit worthiness and their eligibility for credit.
For more details about your full obligations, go here.