Purposes for Which LM Credit Handles Personal Information
LM Credit collects and uses personal information for only the purposes described below. We gather this personal information through interaction with you, the client. Some of the curating tools include; applications, supporting information and documentation you provide through interactions with us. In instances where you have provided your consent to personal investigations, as defined in The Personal Investigations Act, we could also gather personal information from references, employers past and current, as well as other financial institutions you have disclosed – this could include credit bureaus, your bank account, and other sources.
Purposes for which we may collect personal information:
- In order to verify your identity and or other information you have provided to us in order to determine if you are eligible for the loan you applied for.
- To administer your loan.
- In order to collect outstanding debts or to enforce any agreement between you and LM Credit.
- To maintain updated and accurate records for a reasonable amount of time in order to meet our legal and regulatory requirements for record keeping.
Personal Information LM Credit Collects
LM Credit limits how much and what type of information we collect to what is necessary in order to fulfill our legal requirements and for us to intelligently be able to decide if a loan will be granted to you. LM Credit will collect your personal information by fair and lawful means. Below is a list of the information we collect:
- Legal name and contact information; including mailing address, telephone number, fax number and/or email address.
- Also, for identity matching and credit check purposes: occupation, name of employer and previous employer (If less than 2 years at current position), names and contact information for references. List of assets, liabilities. Statement of income, previous address, number of dependents, social insurance number, date of birth and driver’s license number.
- Any and all bank account information including a detailed transaction history.
- Banking information that outlines the current status of the account or loan: current and historical account or loan information, balance and indebtedness, history of transactions on the account/s, any records detailing the handling of any inquiries or complaints.
- All banking information.
- All social data and emergency contact information.
Where and when required by law, LM Credit will only collect the foregoing personal information where and when you have provided your written consent to personal investigation as defined in The Personal Investigations Act.Embedded content from other websites
Transfers and Disclosures of Personal Information
In connection with the above stated purposes, LM Credit may and might have reason to share your personal information to the following:
- The credit bureaus, credit reporting agencies and your creditors.
- Any financial institutions.
- To your employer.
- To the references, you have provided.
- To any secure third party bank statement verification software.
- To collection agencies, bailiffs and lawyers.
In addition to the above, personal information may be shared between LM Credit’s affiliates for the purposes described above, these reasons could include defending and bringing legal actions. Assignees or successors of LM Credit or our business or assets may use and disclose your personal information for similar purposes as those described in this Policy. LM Credit may disclose your personal information as necessary to meet legal, regulatory, insurance, audit, and security requirements or as otherwise required by law.
LM Credit uses the strongest safeguards and other security measures to make certain that all personal information in its custody and control is protected against loss or theft, and or unauthorized access, disclosure, copying, use or modification, regardless of the format in which the information is held or curated. Safeguards could be augmented depending on the sensitivity, format, location, and storage of the personal information. Authorized employees, agents and other third party mandataries who require access to personal information to fulfill their job requirements will have access to personal information.
Access and Accuracy
LM Credit may establish and maintain a file containing an individual’s personal information for the purposes described above, which will be accessible at our offices. Individuals have the right to – 3 – LEGAL_1:41887893.5 request to access to or correction of their personal information that is held by LM Credit. Requests must be made in writing, addressed to LM Credit’s Privacy Officer. We will respond to a written request within a reasonable time (generally within 30 days). Provision of copies of records containing personal information may be subject to a fee. We will use our best efforts to ensure that personal information is accurate, complete, and up-to-date. If an individual successfully demonstrates the inaccuracy or incompleteness of personal information, we will change the information as required. If we refuse access to personal information or disagree with an assertion that information held by us is incorrect, LM Credit will provide a written explanation for such refusal. An individual’s right to request access to or correction of their personal information is subject to applicable legal restrictions. We may take reasonable steps to verify your identity before granting access or making corrections.
LM Credit’s Websites and E-Mail Communication
LM Credit does not and cannot guarantee the confidentiality of any communications made by you by way of e-mail or otherwise through our websites. In instances where/when you wish to provide information of a confidential or sensitive nature to LM Credit, contact us directly by telephone to arrange for delivery/transmission of such information by secure means.
NOTWITHSTANDING THE FOREGOING, YOUR SEPARATE, INFORMED AND WRITTEN CONSENT IS REQUIRED FOR THE COLLECTION, USE OR DISCLOSURE OF YOUR PERSONAL INFORMATION IN CONNECTION WITH A PERSONAL INVESTIGATION AS DEFINED IN THE PERSONAL INVESTIGATIONS ACT.
Subject to legal or contractual requirements and reasonable notice, you may, at any time, withdraw your consent by contacting LM Credit’s Privacy Officer. If you withdraw your consent, we could be limited or unable to provide you with some services or information.
In some circumstances, and where/when permitted or required by law, we may collect, use or disclose personal information without your knowledge or consent. These circumstances include but are not limited to: personal information that is publicly available as defined by regulation; where collection is clearly in the interests of the individual and consent cannot be obtained in a timely way; where disclosure is made for the purposes of collecting a debt owed to us; or to comply with a subpoena, warrant or court order.
Inquires or Further Information
Attention: Privacy Officer
LM Credit Inc. Doing Business As: LM Credit
33 City Centre Drive, Suite 250
Mississauga, Ontario, L5B 2N5
You may also reach the Privacy Officer by calling the Company’s toll-free phone number 1-833-301-1058