Privacy Policy – LCUK FINANCE LIMITED
T/A THE LOCAL LOAN COMPANY

Looking after your information  

The Data Protection Act requires LCUK Finance Limited to manage personal information in accordance with the Act. We must process your information fairly and lawfully. This also means you are entitled to know how we intend to use your information. You can then decide whether or not you want to give it to us so that we can provide the product you require. All our employees are responsible for maintaining customer confidentiality. We provide training to all our colleagues to remind them about their obligations. In addition our polices and procedures are regularly audited and reviewed.

    Who we are  

Your information will be held by The Local Loan Company which is a trading name of LCUK Finance Limited.

  Where we obtain your information  

Your personal information will be held securely on our systems so that when you have dealings with either now or in the future we can manage your relationship with us. This will include information you provide when you apply to us and any additional information provided by you or others in various ways, including but not limited to;

1. In applications, emails, letters, phone calls and conversations, when registering for services, in customer surveys, when you participate in competitions, through our websites and during financial reviews or interviews.

2. From analysis of your payments and use of our services and others in the Group

3. From information we receive from others such as credit reference agencies and fraud prevention agencies.

4. From agents and brokers

5. From the use of data obtained from social media sites by matching email address with social media accounts

    Why we may share your information with our third party suppliers  

LCUK Finance Limited may share your information for the following administrative activities;

a) Managing your relationship with us and notifying you of any changes to those products

b) Responding to your queries and complaints

c) Administering offers, competitions and promotions

d) Undertaking affordability reviews

e) Updating, consolidating and improving the accuracy of our records

 

In addition, we will share for the following data usage ;

f) Transactional analysis

g) Arrears and debt recovery and debt sale activities

h) Crime detection, prevention and prosecution

i) To evaluate the effectiveness of marketing, and for market research and training

j) To support customer modelling, statistical and trend analysis, with the aim of developing and improving products and services

k) To enable assessment of lending risks

l) For direct marketing activities (see below)

By sharing this information it enables our companies to better understand your needs and run your account(s) in the efficient way you expect.

    How we share your information externally  

We will treat your information as private and confidential, but may share it with each other and disclose it outside the company if:

1. Allowed by this agreement

2. You consent

3. Needed by our agents, advisors or others involved in running accounts and services for you or collecting what you owe

4. Needed by third parties to help us manage your records, including undertaking behavioural profiling and analysis.

5. HMRC or other authorities require it

6. The law, regulatory bodies or the public interest permits or requires it

7. Required by us to investigate or prevent crime

8. Needed by market research companies to assist us in providing better products and services for you

9. To any other parties connected with your account

    Sharing your information with brokers  

If you were introduced to us by a broker we will give them your contact details and sufficient information to help them with their accounting and administration. Brokers and Introducers may use this information to contact you about products and services unless you have asked them not to do so.

    Sharing your information with our Agents  

We will disclose your information to our agents for the purposes of them providing the collection, credit granting and account servicing you have requested.

    How we manage sensitive personal information  

The Data Protection Act defines certain information as sensitive (racial or ethnic origin, political opinions, religious beliefs, trade union membership, physical or mental health, sexual life, criminal proceedings and offences). As part of your ongoing relationship with us we may be provided with such information. Wherever possible we will always ask your explicit consent to process this information. We may share it with our subcontractors to keep your records up to date.

    Using companies to process your information outside the EEA  

We may sometimes use third parties based outside the European Economic Area. If we do we will always ensure they will protect your information to EU standards. Sometimes these organisations may disclose information to foreign authorites in the fight against crime and terrorism.

    Recording phone calls  

We may monitor or record phone calls with you in case we need to check we have carried out your instructions properly, to resolve queries or issues, for regulatory purposes, to help improve our quality or service and to help prevent or detect fraud or other crimes. Conversations may also be recorded for staff training purposes.

    Using your details for service contact  

Making sure we deliver excellent customer service is important to us and to do this various methods of communication may be used when sending you information about your account. Sometimes this may be by SMS or Email. This may include sending you receipts for payments, statements or other information in relation to your loan. We will always ensure that we are not putting your data at risk. If you have requested that we Email you information relating to your account we will ensure that we have explained the risks of sending an insecure Email and that you are happy to accept that risk.

    Using information on social networking sites  

As part of our ongoing commitment to understanding our customers better, we may research comments and opinions made public on social media sites. We may also match information on these sites with the data we hold to undertake behavioural analysis and assist with credit decsioning. The information we collect may also assist use with looking at targeted advertising using Social media.

    Using cookies and IP addresses  

If you visit our website, we may receive your IP address, a unique identifier for your computer or other access device. We do not use your IP address to identify you. For more information on using cookies please visit our cookies page.

    Obtaining a copy of your information  

You have a right of access to a copy of the personal data we hold about you for a fee of £10. Please write to the Information Request Officer, LCUK Finance Limited, Sterling House Langston Road Loughton Essex IG10 3TS enclosing a cheque payable to LCUK Finance Limited and providing as much information as possible to enable us to locate your information.

    How we use credit scoring  

When you apply for credit we use credit scoring. This is an automated system that helps us to understand behaviour and its impact on an individual's likelihood to pay. Credit scoring will take account of information you provide on your application, information provided by credit reference agencies, information already held by us about you, and data obtained from social media sites. 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 automated process, you can contact us within 21 days to have the decision reviewed.

    How we use Credit Reference Agency data  

Your application will be registered on your credit report under the name PLCUK Finance Limited and we are currently working with Experian. If you would like more information on these Credit Reference Agencies, please visit their websites. We will undertake a search with at least one of the agencies when you apply for credit and this will review your 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 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 28 days of a formal demand being issued, then a default notice may be recorded at the CRAs which will impact your ability to obtain further credit.

The information we and other organisations provide to the CRAs may be used by us and them to;

1) help make decisions when checking applications, managing credit related accounts and facilities, recovering debt, checking on insurance claims, checking job applicants

2) detect and prevent money laundering, crime and fraud

3) verify identity

4) trace your whereabouts

5) undertake research, statistical analysis and system testing.

Any records shared with the CRAs will remain on your CRA file for 6 years after your account is closed.

    How we use Fraud prevention agencies  

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:

  • Checking details on applications for credit and credit related or other facilities
  • Managing credit and credit related accounts or facilities
  • Recovering debt
  • Checking details on proposals and claims for all types of insurance
  • 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 the information recorded by fraud prevention agencies from other countries.

    How we check your identity and undertake money laundering checks  

We may ask you to provide physical forms of identity when you take a product with us. Alternatively we may use information from the CRAs to do this. This type of search is not seen or used by other lenders to assess your ability to obtain credit.

    Contacting you about products and services  

With your permission, we may contact you by Email, phone, SMS, and mail about products we feel will be of benefit to you. We will not contact you about everything, only if we think it is appropriate and relevant to you. This contact may continue after your relationship with us ends. You may opt out of receiving this information at any time by calling or writing to us.

    Third party marketing  

Unless you have given us your consent, we will not provide information about you to other companies

    Viewing notifications  

LCUK Finance Limited is registered to process personal data with the Information Commissioner in the UK and you can view this registration on their website.