When you apply for finance via Snowbird Finance Limited, the lenders that we approach may access and use the information recorded by credit reference and fraud prevention agencies (FPAs) for the purposes of assessing lending risks and identifying, preventing, detecting or tackling fraud, money laundering and other crime.
Any Credit Reference Agency (CRA) that is searched as a result of your personal loan application will keep a record of any search, and other lenders may use it to assess applications they receive from you in the future.
Details of your agreement, payments and any default activity may be added to your record with the CRAs. If you borrow and do not repay in full and on time, CRAs will trace your whereabouts and recover debts that you owe. Records of the outstanding debt will remain on file for 6 years after they are closed, whether settled by you or defaulted and may be used for statistical analysis about credit, insurance and fraud.
If you give false or inaccurate personal information and fraud is identified this may be recorded with fraud prevention agencies who may inform law enforcement agencies. These organisations (including law enforcement agencies) may use, search and access these records from the UK and other countries (e.g. offshore operations of UK businesses) to prevent fraud and money laundering, for example, when:
a. checking details on applications for credit and credit related or other facilities and managing credit and credit related or other facilities;
b. checking details on proposals and claims for all types of insurance;
c. recovering debt;
d. check your identity to prevent money laundering; and
e. checking details of job applicants and employees.
Under the Data Protection Act 1998, you have a right to access certain personal records we hold about you, which you can do by writing to us at email@example.com for which a fee may be payable.
Please note this information is a condensed version, for full details of how your data may be used, or if you wish to find out more about the CRAs and FPAs mentioned above, please telephone Snowbird Finance on 01932 874674.