This Privacy Statement has been prepared by V5 Loans Limited to meet the requirements of the data protection law, in particular the European General Data Protection Regulation (‘GDPR’) and Data Protection Act 2018 (‘DPA’), and relates to the collection, protection, disclosure and use of personal data belonging to living individuals. The Statement is only applicable to www.v5loans.co.uk
The Company will act as the Data Controller of the personal information that you submit.
This Statement together with our Website Terms and Conditions of Use and any other documents referred to in it sets out the basis on which any personal data we collect from you, or that you provide to us, will be processed by us. Please read the following carefully to understand our views and practices regarding your personal data.
1 INFORMATION WE MAY COLLECT FROM YOU
1.1 We may collect and process the following data about you:
1.1.1 information that you may provide by filling in online forms on the Site. This includes information provided when you complete an online application form on the Site, or request a call back;
1.1.2 information obtained from you or from third parties, such as credit reference agencies (CRAs) who may search the electoral register and fraud prevention agencies (FPAs) or other organisations including your employer when you apply for a loan or any other product or service or which you or they give to us at any other time;
1.1.3 details of transactions you carry out through the Site and of the fulfilment of your loan(s);
1.1.4 correspondence and records of all contact with you, including any discussions; please note that calls between us may be recorded and/or monitored;
1.1.5 surveys that we use for research purposes, which we have asked you to complete, although you are under no obligation to respond to them.
2 HOW WE USE YOUR INFORMATION
2.1 We use information held about you in the following ways:
2.1.1 to process your Loan Application Form, including assessing your creditworthiness and affordability, as well as verifying the details of your vehicle;
2.1.2 to provide you with the best possible service;
2.1.3 to ensure that content on the Site is presented in the most effective manner for you and for your computer;
2.1.4 to notify you about changes to our products and services:
2.1.5 to contact you by telephone, email and post, about our products and services that may be of interest to you;
2.2 We will give you the opportunity to opt out of receiving further marketing materials. We may contact you by post, e-mail.
2.3 If you wish to opt-out of receipt of these marketing communications from us at any time you may do so by sending an email to us at firstname.lastname@example.org or by contacting us at 07909 116555.
2.4 If you opt-out of our use of your data for marketing purposes, we will honour such choice once we have had a reasonable opportunity to process your request and enter your details onto a marketing suppression list. We reserve the right to take reasonable steps to authenticate your identity with respect to any such request or other enquiry.
3 CREDIT REFERENCE AND FRAUD PREVENTION AGENCIES
3.1 When you submit a Loan Application Form you confirm that all the information you have given is true and complete. When you submit a Loan Application Form you authorise us to check the following records about you and others:
3.1.1 our own;
3.1.2 those at CRAs. When CRAs receive a search form from us they will place a search footprint on your credit file which may be seen by other lenders. They supply to us both public (including the electoral register) and shared credit and fraud prevention information; and
3.1.3 those at FPAs.
3.2 We will make such checks as deemed necessary to assess your application for credit and verify identities to prevent and detect crime and money laundering. We may also make periodic searches at CRAs and FPAs to manage your account with us.
3.3 Information on applications you submit to us will be sent to CRAs and recorded by them. Where you borrow from us, we will give details of your accounts and how you manage it/them to CRAs. If you borrow and do not repay in full and on time, CRAs will record the outstanding debt. This information may be supplied to other organisations by CRAs and FPAs to perform similar checks and to trace your whereabouts and recover debts that you owe. Records remain on file for 6 years after they are closed, whether settled by you or in default.
3.4 If you tell us that you have a spouse or financial associate, we will link your records together so you must be sure that you have their agreement to disclose information about them. CRAs also link your records together and these links will remain on your and their files until such time as you or your partner successfully files for a disassociation with the CRAs to break that link.
3.5 If false or inaccurate information is provided and fraud is identified, details will be passed to FPAs.
4 WHERE WE STORE YOUR PERSONAL DATA
4.1 All information you provide to us is, as far as reasonably practicable, stored on our secure servers to protect against the unauthorised access, use, modification, destruction or disclosure of personal information. Any sensitive information, such as credit/debit card numbers will be encrypted using secure socket layer technology (SSL). We ask you not to permit anyone to use your name.
4.2 Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our Site; any transmission is at your own risk. Once we have received your personal data, we will use strict procedures and security features to try to prevent unauthorised access.
4.3 We will securely retain your information for a reasonable period or for as long as the law requires.
5 DISCLOSURE OF YOUR INFORMATION
5.1 We may disclose your personal information to third parties:
5.1.1 to prepare or send any communications to you, or to assist us in connection with any of our administrative or business functions, or in the provision of any of our services to you, or to third parties acting as our agents. If they are located in another country we will make sure that they agree to apply the same levels of protection as we are required to apply to information held in the UK;
5.1.2 if the Company or substantially all of its assets are acquired by a third party, in which case personal data held by us about our customers will be one of the transferred assets;
5.1.3 to anyone to whom we transfer or may transfer our rights and duties under this Statement;
5.1.4 if we are under a duty to disclose or share your personal data in order to comply with any legal or regulatory obligation, or in order to enforce or apply our Website Terms and Conditions of Use and other agreements; or to protect the rights, property, or safety of the Company, our customers, or others. This includes exchanging information with other companies and organisations for the purposes of fraud protection and credit risk reduction;
5.1.5 if you were introduced to us by a third party, we will give them your contact details and sufficient information about you for their accounting and administration purposes; and
5.1.6 if we have a duty to do so or if the law allows us to do so.
6 IP ADDRESSES AND COOKIES
6.1 We may collect information about your computer, including where available your IP address, operating system and browser type, for system administration and to report aggregate information to our advertisers. This is statistical data about our users' browsing actions and patterns, and does not identify any individual.
6.2 A cookie is a small electronic file that collects information when someone visits a website. A cookie can identify the pages that are being viewed, and this can assist us to select the pages that the viewer sees. Some cookies only exist whilst viewers are online (session cookies), but persistent cookies remain on the viewer's computer, so that he or she can be recognised as a previous visitor when he or she next visits our site. This allows us to collect information about a viewer's browsing habits whilst on our Site, and this can be useful in assisting us to monitor and improve our services.
6.3 The Company may release browsing data and information gathered using cookies in the aggregate, such as publishing a report on trends in the usage of the Site. The report will only contain statistical data and will not identify any individual.
6.4 We do not store sensitive information such as account numbers or passwords in persistent cookies, and cookies in themselves, do not contain enough information to identify you. You will only acquire a personal identity in relation to your browsing habits after you have formally provided us with your personal data for the purposes outlined above in paragraph 2.
6.5 In addition to using cookies, we might also use web tools to collect information about your browsing activities whilst on our Site. In this respect the information that is provided is similar to the information supplied by cookies, and we use it for the same purposes.
6.6 Any information that we acquire about you using cookies or web tools is subject to the same restrictions and conditions as any other information we collect about you.
7 YOUR RIGHTS
7.1 We operate under GDPR and DPA. We ensure lawful processing of personal data by obtaining your consent; or where there is a contractual obligation to do so in providing appropriate products and services; or where processing the data is necessary for the purposes of our legitimate interests in providing appropriate products and services.
To meet our data protection obligations, we have established comprehensive and proportionate governance measures.
The DPA and GDPR apply to ‘personal data’ we process and the data protection principles set out the main responsibilities we are responsible for.
We must ensure that personal data shall be:
- processed lawfully, fairly and in a transparent manner;
- collected for specified, explicit and legitimate purposes and not further processed in a manner that is incompatible with those purposes;
- adequate, relevant and limited to what is necessary in relation to the purposes for which they are processed;
- accurate and where necessary kept up to date;
- kept for no longer than is necessary for the purposes for which the personal data are processed.
We only retain personal data for the purposes for which it was collected and for a reasonable period thereafter where there is a legitimate business need or legal obligation to do so.
- processed in a manner that ensures appropriate security of the personal data, including protection against unauthorised or unlawful processing and against accidental loss, destruction or damage, using appropriate technical or organisational measures.
7.2 Under GDPR you have the following specific rights:
- The right to be informed about how we use personal data.
- The right of access to the personal data we hold. In most cases this will be free of charge and must be provided within one month of receipt.
Your right of access can be exercised by writing to us at V5 Loans Ltd, PO Box 2561, Watford WD18 1FL.
- The right to rectification where data are inaccurate or incomplete. In such cases we shall make any amendments or additions within one month of your request.
- The right to erasure of personal data, but only in very specific circumstances, typically where the personal data are no longer necessary in relation to the purpose for which it was originally collected or processed; or, in certain cases where we have relied on consent to process the data, when that consent is withdrawn and there is no other legitimate reason for continuing to process that data; or when the individual objects to the processing and there is no overriding legitimate interest for continuing the processing.
- The right to restrict processing, for example while we are reviewing the accuracy or completeness of data, or deciding on whether any request for erasure is valid. In such cases we shall continue to store the data, but not further process it until such time as we have resolved the issue.
- The right to data portability which, subject to a number of qualifying conditions, allows individuals to obtain and reuse their personal data for their own purposes across different services.
- The right to object in cases where processing is based on legitimate interests, where our requirement to process the data is overridden by the rights of the individual concerned; or for the purposes of direct marketing (including profiling); or for processing for purposes of scientific / historical research and statistics, unless this is for necessary for the performance of a public interest task.
- Rights in relation to automated decision making and profiling.
Our Site may, from time to time, contain links to and from the websites of our advertisers and affiliates. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.
Please contact us for more information about the GDPR and DPA and your rights under data protection law or if you have a complaint about our processing of your personal information.
Our supervisory authority for data protection compliance is the Information Commissioner (www.ico.org.uk):
Information Commissioner's Office
8 CHANGES TO OUR PRIVACY STATEMENT
8.1 We reserve the right to change this Statement at any time, and any changes we may make to our Statement, including details of changes in how we use your personal information, will be posted on this page.
9.1 Questions, comments and requests regarding this Statement are welcomed at V5 Loans Ltd, PO Box 2561, Watford WD18 1FL.