Disclosure information

MiFin Pty Ltd provides credit products called Small Amount Credit Contracts (SACC) as defined by the Australian Federal Government. No interest is charged, instead there is an establishment fee of 20% and a monthly fee of 4% of the original amount borrowed. In applying for a Small Amount Credit Contract loan from MiFin Pty Ltd using this website you acknowledge and confirm that:

  • You are not in default of any other SACC.
  • You are not using this loan to repay any other SACC.
  • The majority of your income is not received from Centrelink or as benefits.
  • You can manage the repayments for this loan and any other commitments you have without experiencing financial hardship, even if you have owed 2 or more SACCs in the last 90 days.
  • You have or will provide bank statements for the last 90 days.
  • You have or will provide your personal budget details and disclose all existing loans to MiFin.
  • You have had access to all the items under the disclosure tab on this website including the Credit Guide and the warning.
  • By applying online for a loan, and subsequently accepting the loan funds which may be transferred to your bank account, a legally enforceable contract between you and MiFin will be created.

Applicable to all individual finance customers who are applying for credit with MiFin Pty Ltd (hereinafter called “The Business”).

By signing or accepting this form, the applicant gives the following acknowledgements and consents:-

Acknowledgement that the business may disclose personal information about me to a credit reporting agency, MiFin debt collection agent, my employers, my nominated references, my Landlord or Landlord’s Agent, or anyone the business may nominate at any time after making an application with the business. This information may include, but is not limited to:-

  • My full name including any alias or previous names;
  • My full address, including a maximum of 3 addresses. This will include my current residential address and may include 2 immediate preceding addresses where applicable;
  • My sex
  • My date of birth
  • My driver licence number
  • The name of my current or last known employer
  • The amount of credit applied for with the business
  • The fact that the business is a current provider to me
  • Contact any Court in Australia
  • Any information you provide me as part of your application

(Identity particulars are as permitted by the Privacy Commission’s determination issued under Section 18E(3) of the Privacy Act 1988)

This information is collected and utilised in accordance with the Privacy Act 1988, and is used for the purpose of assessing the risk of providing credit to you, managing that credit facility to you, and in the collection of outstanding monies from you (s60 Trade practices Act),

In particular (but without limitation) subject to the Privacy Act 1988 we may:-

  • Obtain an Individual and Commercial Credit Report about you from such credit reporting agency to assess your application for credit
  • Exchange personal information about you with any credit provider, named by you or which is contained in any credit report issued by a credit reporting agency
  • Gather permitted information about any defaults committed by you
  • Disclose details of any credit infringements with the business
  • Contact any personal references given by you to the business
  • Default your credit file if your account is 60 days or more in arrears and more than $100 in value

If you provide personal information to us about any other individuals, you will ensure that the individual is made aware that we have that information, our intended uses and disclosure of it, their rights of access to it and our contact details.

I agree to advise the business if there are any changes to personal information or credit information that is held by the business while the credit contract is in force. I agree that no claim will be made against the business where such information is found to be incomplete, outdated or inaccurate due to my negligence in so advising the business.

Every acknowledgement will remain in force until such time that the credit contract is paid in full and until such time that my liability owing to the business is discharged.

Subject to some exceptions, you have a right to access personal information which we hold about you. You can arrange such access with a duly authorised officer of the business in writing to PO Box 40, Goodna QLD 4300.

YOUR PRIVACY AND THE PROVISION OF CREDIT ONLINE

There are 4 SECTIONS included in this form.

By continuing to the next section in this 'Your Privacy and the Provision of Credit Online' form you will be indicating that you have carefully read and understood each section separately. You are indicating that you havegiven willing, informed, direct and not implied consent to the contents of each section. We invite you to give your consent to all four sections, but we emphasise, you have the right to refuse to consent to any one or more ofthe various sections.

Please read each Section carefully.

SECTION 1

PRIVACY CONSENT AGREEMENT

By consenting to this section you consent to MiFin and other entities, as listed below, collecting, holding, using and disclosing personal identification and credit information about you. If you do not provide us with thisconsent we will be unable to provide you with a loan. For more detail, read the company’s Credit Information (Privacy) Management Policy available on this website which can be downloaded and printed. This policy containsdetailed information concerning the company’s management and use of your information.

The Commonwealth Privacy Act 1988, as amended, the Commonwealth Privacy Regulations 2013, and the Credit Reporting Privacy Code 2014 empower and regulate MiFin in accordance with the following.

Use of your Information - Australian Privacy Principle 6

In accordance with Sections 21G, 21H, 21J and 21 M of the Privacy Act, MiFin collects and holds your personal identification and credit information only for the following purposes:

  • to verify your identity and other information provided;
  • to assess any application you make for funds;
  • to assess your financial circumstances;
  • to help us process your application for funds in an efficient manner;
  • to avoid the chance you may default on your payment obligations;
  • to notify you of a default;
  • to notify other credit providers of a default;
  • to facilitate the collection of overdue payments; and
  • to efficiently manage and administer the loans and any services we provide to you.

This information can include any information about your credit worthiness, credit standing, credit history, or credit capacity that you, other credit providers and credit reporting bodies and their authorised agents are allowed to provide to MiFin under the Privacy Act and/or Credit Reporting Privacy Code. It may also include information provided by referees, relatives, real estate agents and employers listed on your loan application.

By agreeing to this Section, you authorise MiFin to contact your bank, real estate agent, landlord, payroll officer and employer (past and present), plus referees and third parties listed in the credit application/assessment form, to provide any and all permitted relevant information they may have regarding you, including tenancy or employment history and bank account and other financial details.

MiFinance may ask you for documents, including one or more of the following:

  • 90 days of bank statements, to date of application;
  • driver licence;
  • Centrelink income statements;
  • employment payslips;
  • bills and invoices, showing current address and payment information;
  • bank cards;
  • passport;
  • birth certificate;
  • proof of age cards;
  • and the like.

This information is only accessed, as required, by MiFin’s employees, representatives, professional advisers, contractors and other service providers, to facilitate the above purposes. MiFin will not sell, rent or trade yourpersonal information.

MiFin reasonably assumes that any referral to third parties that you may nominate, in order that MiFin may obtain or verify your personal and other information, will have been with the agreement and knowledge of the thirdparties involved and that you will have made them aware of the purposes and use of such information, prior to MiFin contacting them.

Information disclosure to a credit reporting body

In accordance with Section 21D of the Privacy Act, MiFin has chosen to continue with the lawful negative credit reporting (privacy) regime. By consenting to this section, you specifically agree that the company may provideinformation to Veda and Experian, credit reporting bodies. This disclosure will be for the following purposes only:

  • to obtain identity verification information;
  • to obtain a consumer credit report about you, and/or
  • to allow the credit reporting body to create or maintain a credit information file, containing information about you.

Your identity verification

MiFin may verify your identity by attempting to match information you have provided with that held by a verification company and/or a credit reporting body. This task may involve the disclosure of your name, date of birth and address etc, to verify whether or not the personal identity information you have provided to MiFin matches information held by that third party.

If we are unable to verify your identity by the above means, the company will inform you, so that you might contact the verification company or credit reporting body to update your information they hold, or you may ask MiFin to attempt to verify your identity by alternate means.

Information disclosed to one or more credit reporting bodies

The information disclosed to the credit reporting body is limited to (if applicable):

  • identity particulars - your name, sex, address (and previous two addresses), date of birth, name of employer and driver's licence number;
  • your application for funds - the fact that you have applied for funds and the amount;
  • the fact that MiFin is a current credit provider to you;
  • the fact that your loan has incurred overdue account status;
  • the fact that your loan has incurred default status; and
  • information that, in the reasonable opinion of MiFin, you have committed a serious credit infringement (i.e. you have been fraudulent, or indicated an unwillingness to repay your loan).

Information disclosure to other entities

Under Part 111A of the Privacy Act, MiFin may disclose your personal information to:
  • ther credit providers;
  • our external service providers and their agents who provide business services to us, on a confidential basis, only for the purpose of our business;
  • the Credit Ombudsman Service Ltd, to which a complaint relating to a particular service we provide to you can be referred. Telephone 02 9273 8400, or info@cosl.com.au; and
  • any court or tribunal as may be required by law.

MiFin may provide limited permitted information to real estate agents, employers, referees and other third party entities that you may have listed in the application/assessment form associated with your application for a loan,for identity and/or credit information verification purposes.

The names and contact details of the other credit providers with whom we have shared information, if any, will be provided on request, as they vary from time to time and for the particular consumer.

Period to which this understanding applies

The information may be collected or disclosed before, during, or after the term of the provision of funds.

Information disclosure in the event of a default of your payment obligations

In the event of the creation of an overdue account and/or default of the payment conditions entered into with MiFin, any information you have provided may be made available to personnel employed by solicitors and/or debt collection agencies authorised by MiFin to assist in the process of recovery of the funds advanced, plus all associated fees and charges (if any) and all relevant legal and reasonable administrative costs incurred.

Access to your personal information

You may access your personal identification and credit information and request changes where relevant. You can apply to MiFin to obtain access to your personal information by contacting the Privacy Compliance Manager by email at info@mifinance.com.au, fax 07 38180644. PO Box 40, Goodna, QLD 4300.

You can also apply to access the personal information Veda holds about you. They may be contacted on telephone no. 1300 762 207, or through www.mycreditfile.com.au.

Concerns and complaints

If you have any privacy management concerns during the application process and/or loan term, please contact MiFin's Privacy Compliance Manager. You also have a right to ask the relevant credit reporting body not to use your information for pre-screening credit offers and/or not to use your information, if you believe that you have been a victim of fraud.

Commercial credit Information

In order to assess an application for commercial funds, MiFin may obtain a report containing information about your commercial credit activities and/or credit worthiness from a credit reporting body. To the extent that any of this information could be regarded as personal, the provisions outlined in this section, in regard to personal information, apply.

DECLARATION BY CONSUMER I/we hereby declare that I/we have read the above and note and accept the rights of MiFin concerning the collection and use of my/our personal identification and credit information.

SECTION 2

Information Disclosure and Communications Under the SPAM Act 2003

You are informed that Section 16 of the Spam Act provides that MiFin cannot communicate with you via a “commercial electronic message” (email, fax, SMS) without your consent. As you would expect, for speed and convenience,where possible and with your permission, MiFin would prefer to communicate with you using such electronic means.

Without your permission, written communications will have to be conveyed by Australia Post.

DECLARATION BY CONSUMER I/we hereby declare that I/we have read, understood and noted the above and hereby provide my/our express and informed consent for MiFin to communicate with me/us electronically, via email, fax and/orSMS as relevant, address details for which we have willingly provided for contractual and communications purposes.

SECTION 3

The Electronic Transactions Act 1999

You are informed that the Electronic Transactions Act requires that, before MiFin can communicate with you electronically (email, fax, SMS), you also have to give permission under that Act for MiFin to communicate with you inthat way.

We seek your permission to:

  1. electronically format and send you the information that we are obliged to provide under the National Consumer Credit Protection Act 2009 and associated Regulations;
  2. send you electronic messages, rather than providing paper copies.

You are informed that, in giving this permission, you are agreeing to:

  • (a) use the relevant computer programs and have sufficient internet capacity to interact with MiFin’s system;
  • (b) regularly check your email Inbox and/or fax machine and/or SMS Inbox;
  • (c) not blame MiFin if any properly sent electronic message does not reach you; and
  • (d) notify MiFin of any changes to your electronic addresses, and absolve MiFin from any liability if you fail to do so.

We remind you that you can withdraw your permission for the above at any time, provided you give MiFin 24 hours' notice, confirming your current address and contact details.

DECLARATION BY CONSUMER/S I/we hereby declare that I/we have read, understood and noted the above and hereby provide my/our express and informed consent for MiFin to communicate with me/us electronically, under the Electronic Transactions Act 1999 and associated Regulations.

SECTION 4

Information Disclosure Under the Commonwealth Anti-Money Laundering and Counter-Terrorism Legislation

You are informed that, under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act), there are provisions for the use of credit reporting information to assist in identity verification. By consentingto this section, you attest that MiFin has informed you of the following statutory provisions.

Under Section 35A(1), this can include the electronic provision of your name and/or address and/or date of birth, as you may have provided to us, to a credit reporting body. This information can and frequently has to beprovided to credit reporting bodies by MiFin, for a matching process entailing comparison with personal information about you they already have on their files.

If there is no satisfactory match found and/or the level of verification which we must seek, as part of both our AML/CTF responsibilities and our mandatory credit unsuitability/suitability assessment process under the NationalConsumer Credit Protection Act 2009 and associated Regulations, is not achieved, we must give you the opportunity to verify your identity by alternative means.

In these circumstances, if you choose not to attempt to verify your identity by contacting the credit reporting body yourself, or by alternative means, or your contact with the credit reporting body is unsuccessful, or wedetermine that the alternative has failed to provide adequate identity verification, we cannot give you a loan. To do so would threaten our Australian Credit Licence.

Please note that we have to keep a record for 7 years, regarding which credit reporting body we contacted, the personal information we provided and the assessment with which we were supplied.

DECLARATION BY CONSUMER/S I/we hereby declare that I/we have read, understood and noted the above and hereby provide my/our express and informed consent to allow MiFin to undertake electronic or emailed verification of my/ouridentity.

GENERAL DECLARATION

I/we acknowledge and accept that the four sections of this document are part of a credit application and loan suitability assessment process and may also apply to the consequent loan administration and/or collection facilitation.

MiFin Pty Ltd – Direct Debit Request (DDR) Service Agreement.

References to 'the agreement to which this DDR Service Agreement relates' are to any contract you enter into with MiFin Pty Ltd, if MiFin Pty Ltd accepts the offer to borrow signed by you.

Our Commitment to You

Drawing Arrangements:

If we have not already notified you in the agreement to which this DDR Service Agreement relates, we will advise you, in writing, of details of the drawing arrangements (including the amount, frequency and commencement date), atleast 14 calendar days prior to the first drawing.

Where the due date for a drawing falls on a non-business day, we will draw the amount on the business day immediately prior to the non-business day.

If we propose to change the amount or frequency of drawing arrangements we will give you not less than 14 days’ notice of the proposed change. If you have any questions about the proposed change, please ensure that you contact us on 1800 825 805 at least 7 business days prior to the due date for any drawing which we propose to make in accordance with the proposed change.

We reserve the right to cancel the drawing arrangements if any drawings are returned unpaid by your nominated financial institution and to arrange with you an alternate payment method.

We will keep all information pertaining to your nominated account at the financial institution private and confidential.

Your Rights

You may suspend or terminate the drawing arrangements at any time by giving a written notice to us. If we receive written notice of suspension or termination from you less than 5 business days prior to the due date for anydrawing, we may make that drawing even though we have received that notice.

You may stop payment of a drawing under the by giving written notice to us. Such notice should be received by us at least 5 business days prior to the due date. If we receive written notice that you wish to stop a drawing fromyou less than 5business days prior to the due date for any drawing, we may make that drawing even though we have received that notice.

You may request a change to the drawing amount and/or frequency of the drawing arrangements by contacting us on 1800 825 805 and advising your requirements no less than 5 business days prior to the due date. We do not have toagree a request by you to change the amount and/or frequency of the drawing arrangements, and may choose instead to cancel the drawing arrangements and require you to make alternate arrangements to meet your obligations underthe agreement to which this DDR Service Agreement relates.

Where you consider that a drawing has been initiated incorrectly you should take the matter up directly with us. You may contact us on 1800 825 805 during business hours. Only if you do not receive a satisfactory response fromus to your dispute, contact your financial institution who will respond to you with an answer to your claim:• within 7 business days (for claims lodged within 12 months of the disputed drawing)• within 30 business days (for claims lodged more than 12 months after the disputed drawing

You will receive a refund of the drawing amount if we cannot substantiate the basis for the drawing.

Your commitment to us

Your responsibilities:

It is your responsibility to ensure that sufficient cleared funds are available in the nominated account to meet a drawing on its due date.

It is your responsibility to ensure that the authorisation given to draw on the nominated account is identical to the account signing instruction held by the financial institution where the account is based, and that thenominated account can accept direct debits.

It is your responsibility to advise us if the account nominated by you from which drawings will be made is transferred or closed.

It is your responsibility to arrange with us a suitable alternate payment method if the drawing arrangements are cancelled either by yourselves or the nominated financial institution.

If any drawing is returned unpaid you may be required to pay fees in accordance with the agreement to which this DDR Service Agreement relates. All enquiries, in the first instance, should be directed to MiFin Pty Ltd.

INFORMATION STATEMENT

THINGS YOU SHOULD KNOW ABOUT YOUR PROPOSED CREDIT CONTRACT

(Reg 11 and s14(1)(b))

This statement tells you about some of the rights and obligations of yourself and your credit provider. It does not state the terms and conditions of your contract. If you have any concerns about your contract, contact your credit provider and, if you still have concerns, your Government Consumer Agency, or get legal advice.

THE CONTRACT

How do I get details of my proposed credit contract?

1. Your credit provider must give you a pre-contractual statement containing certain information about your contract. The pre-contractual statement, and this document, must be given to you before: •your contract is entered into; or •you make an offer to enter into the contract, whichever happens first.

How can I get a copy of the final contract?

2. If the contract document is to be signed by you and returned to your credit provider, you must be given a copy to keep. Also, the credit provider must give you a copy of the final contract within 14 days after it is made. This rule does not, however, apply, if the credit provider has previously given you a copy of the contract document to keep. If you want another copy of your contract write to your credit provider and ask for one. Your credit provider may charge you a fee. Your credit provider has to give you a copy: •within 14 days of your written request if the original contract came into existence 1 year or less before your request; or •otherwise within 30 days of your written request.

Can I terminate the contract?

3. Yes. You can terminate the contract by writing to the credit provider so long as: •you have not obtained any credit under the contract; or •a card or other means of obtaining credit given to you by your credit provider has not been used to acquire goods or services for which credit is to be provided under the contract. However, you will still have to pay any fees or charges incurred before you terminated the contract.

Can I pay my credit contract out early?

4. Yes. Pay your credit provider the amount required to pay out your credit contract on the day you wish to end your contract.

How can I find out the payout figure?

5. You can write to your credit provider at any time and ask for a statement of the payout figure as at any date you specify. You can also ask for details of how the figure is made up. Your credit provider must give you the statement within 7 days after you give your request to the credit provider. You may be charged a fee for the statement.

Will I pay less interest if I pay out my contract early?

6. Yes. The interest you can be charged depends on the actual time money is owing. However, you may have to pay an early termination charge (if your contract permits your credit provider to charge one) and other fees.

Can my contract be changed by my credit provider?

7. Yes, but only if your contract says so.

Will I be told in advance if my credit provider is going to make a change in the contract?

8. That depends on the type of change. For example: •you get at least same day notice for a change to an annual percentage rate. That notice may be written notice to you or a notice published in a newspaper. •you get 20 days advance written notice for: •a change in the way in which interest is calculated; or •a change in credit fees and charges; or •any other changes by your credit provider, except where the change reduces what you have to pay or the change happens automatically under the contract.

Is there anything I can do if I think that my contract is unjust?

9. Yes. You should first talk to your credit provider. Discuss the matter and see if you can come to some arrangement. If that is not successful you could apply to the court. Contact the government consumer agency or get legal advice on how to go about this.

INSURANCE

Do I have to take out insurance?

10. Your credit provider can insist you take out or pay the cost of types of insurance specifically allowed by law. These are compulsory third party personal injury insurance, mortgage indemnity insurance or insurance over property covered by any mortgage. Otherwise, you can decide if you want to take out insurance or not.

Will I get details of my insurance cover?

11. Yes, if you have taken out insurance over mortgaged property or consumer credit insurance and the premium is financed by your credit provider. In that case the insurer must give you a copy of the policy within 14 days after the insurer has accepted the insurance proposal. Also, if you acquire an interest in any such insurance policy which is taken out by your credit provider then, within 14 days of that happening, your credit provider must ensure you have a written notice of the particulars of that insurance. You can always ask the insurer for details of your insurance contract. If you ask in writing your insurance must give you a statement containing all the provisions of the contract.

If the insurer does not accept my proposal, will I be told?

12. Yes, if the insurance was to be financed by the credit contract. The insurer will inform you if the proposal is rejected.

In that case, what happens to the premiums?

13. Your credit provider must give you a refund or credit unless the insurance is to be arranged with another insurer.

What happens if my credit contract ends before any insurance contract over mortgaged property?

14. You can end the insurance contract and get a proportionate rebate of any premium from the insurer.

MORTGAGES

If my contract says I have to give a mortgage, what does this mean?

15. A mortgage means that you give your credit provider certain rights over any property you mortgage. If you default under your contract, you can lose the property and you might still owe money to the credit provider.

Should I get a copy of my mortgage?

16. Yes. It can be part of your credit contract or, if it is a separate document, you will be given a copy of the mortgage within 14 days after your mortgage is entered into. However, you need not be given a copy if the credit provider has previously given you a copy of the mortgage document to keep.

Is there anything that I am not allowed to do with the property I have mortgaged?

17. The law says you cannot assign or dispose of the property unless you have your credit provider’s, or the court’s, permission. You must also look after the property. Read the mortgage document as well. It will usually have other terms and conditions about what you can or cannot do with the property.

What can I do if I find that I cannot afford my repayments and there is a mortgage over property?

18. See answers to questions 22 and 23.Otherwise you may: •if the mortgaged property is goods – give the property back to your credit provider, together with a letter saying you want the credit provider to sell the property for you; •sell the property – but only if your credit provider gives permission first; OR •give the property to someone who may then take over the repayments, but only if your credit provider gives permission first. If your credit provider won’t give permission contact your Government Consumer Agency for help. If you have a guarantor, talk to the guarantor who may be able to help you. You should understand that you may owe money to your credit provider even after the mortgaged property is sold.

Can my credit provider take or sell the mortgaged property?

19. Yes, if you have not carried out all of your obligations under the contract.

If my credit provider writes asking me where the mortgaged goods are, do I have to say where they are?

20. Yes. You have 7 days after receiving your credit provider’s request to tell your credit provider. If you do not have the goods you must give your credit provider all the information you have so they can be traced.

When can my credit provider or its agent come into a residence to take possession of mortgaged goods?

21. Your credit provider can only do so if it has the court’s approval or the written consent of the occupier which is given after the occupier is informed in writing of the relevant section in the Consumer Credit Code.

GENERAL

What do I do if I cannot make a repayment?

22. Get in touch with your credit provider immediately. Discuss the matter and see if you can come to some arrangement. You can ask your credit provider to change your contract in a number of ways. For example: •to extend the term of the contract and either reduce the amount of each payment accordingly or defer payments for a specified period; or •to simply defer payments for a specified period.

What if my credit provider and I cannot agree on a suitable arrangement?

23. If you have been unemployed, sick or there is another good reason why you are having problems with your contract, then your contract may be able to be changed to meet your situation. You may be able to apply to the court. Contact your Government Consumer Agency or get legal advice on how to go about this. There are other people, such as financial counsellors, who may be able to help.

Can my credit provider take action against me?

24. Yes, if you are in default under your contract. But the law says that you cannot be unduly harassed or threatened for repayments. If you think you are being unduly harassed or threatened, contact your Government Consumer Agency or the Trade Practices Commission, or get legal advice.

Do I have any other rights and obligations?

25. Yes. The law will give you other rights and obligations. You should also READ YOUR CONTRACT carefully. IF YOU HAVE ANY DOUBTS, OR WANT MORE INFORMATION, CONTACT YOUR GOVERNMENT CONSUMER AGENCY OR GET LEGAL ADVICE. PLEASE KEEP THIS INFORMATION STATEMENT. YOU MAY WANT SOME INFORMATION FROM IT AT A LATER DATE.

  1. This document does not contain all of the information MiFin Pty Ltd is required to give the Borrower before the Borrower enters into the contract. The rest of the information is set out in Part 1-Schedule which will be emailed to you or presented digitally.
  2. What MiFin lends the Borrower and what the Borrower owes
    • a.MiFin agrees to lend the Borrower the amount of credit.
    • b.MiFin can debit all or any part of the amount of credit to the loan account. MiFin can debit all or any part of the amount of credit (so that the Borrower pays interest charges on it) on the settlement date.
    • c.MiFin debits an amount to the loan account (if it is not already owed), the Borrower owes MiFin that amount.
  3. Interest chargesUnder SACC credit regulations no interest is charged. Establishment and monthly fees are applied. The annual percentage rate is set out in the Schedule. It is fixed and cannot be changed. The annual percentage rate is divided by 365 to get a daily percentage rate.
    • a.Interest charges for each day are calculated on a daily basis by applying the daily percentage rate to the daily balance.
    • b.MiFin can debit interest charges to the loan account at the following times:
      1. immediately before the Borrower pays the loan account balance or under any other right the Borrower has to pay the loan account balance;
      2. on any day on which a repayment is due under the contract; and
      3. on the day the loan account balance becomes due and monthly after that.
      c.The amount of interest charges debited to the loan account will be the sum of interest charges calculated for each day in the period commencing on:
      1. the day all or any part of the amount of credit is first debited to the loan account; in the case of the first interest debit
      2. otherwise, the day following the last day on which an interest charge was debited, and ending the day before the day on which the interest charge is debited.
  4. Repayments
    • a.The Borrower must pay the repayments MiFin determines at the times MiFin determines. As at the disclosure date the repayments are those set out in the Schedule and they must be paid at the times set out in the Schedule.
    • b.The Borrower must pay to MiFin the loan account balance plus any amounts charged, accrued or payable but not yet debited to the loan account on the last day of the term if they have not become due and payable any earlier.
    • c.The Borrower can pay the loan account balance at any time. If the Borrower does this, the Borrower must also pay any amounts charged, accrued or payable but not yet debited to the loan account at that time.
    • d.MiFin does not treat a payment as made until it is credited to the loan account.
  5. Fees and Charges
    • a) The Borrower must pay:
      1. the fees and charges set out in the Schedule; and
      2. any government charges or duties on receipts or withdrawals in respect of the loan account whether or not the Borrower is primarily liable to pay these charges or duties.
      3. b.MiFin can debit fees and charges the Borrower must pay under this contract to the loan account.
  6. If the Borrower is in default
    • a.The Borrower is in default if:
      1. the Borrower does not pay on or before its due date for payment any amount payable under this contract; or
      2. the Borrower is in breach of any other provision of this contract; or
      3. the Borrower gives MiFin incorrect or misleading information in connection with this contract;
      4. MiFin reasonably believes the Borrower has acted fraudulently in connection with this contract; or
      5. the Borrower becomes insolvent or steps are taken to make the Borrower so.
    • b.If the Borrower is in default, then subject to any law (including requirements as to notice) the loan account balance plus any amounts charged, accrued or payable but not yet debited to the loan account automatically becomes due and payable. Enforcement expenses may become payable under this contract in the event of a breach. The Borrower must pay MiFin all reasonable enforcement expenses MiFin reasonably incurs arising from any default under this contract, including any GST MiFin has to pay in respect of such enforcement expenses (less the amount of any related input tax credit or reduced input tax credit to which MiFin is entitled). MiFin can debit these amounts to the loan account. Enforcement expenses that are debited to the loan account will become due and payable at the time they are debited. MiFin does not need to ask the Borrower for them first.
  7. What happens to payments MiFin receives?MiFin may apply any payment or other credit it receives to any amount the Borrower owes under this contract in any order MiFin chooses.
  8. Changes
    • a.MiFin can change this contract, such as varying an existing provision or adding a new provision, at any time without the Borrower’s consent including by imposing a credit fee or charge or changing the Borrower’s payment obligations. However, if any law regulates that change, MiFin may only change this contract to the extent permitted by, and subject to, the requirements of that law.
    • b.MiFin will notify the Borrower when MiFin:
      1. changes the manner in which interest is calculated or applied under this contract. Where such a change does not reduce the Borrower’s obligations or does not extend the time for payment, MiFin will give the Borrower at least 20 days. prior written notice.
      2. changes the amount or frequency of payment of a credit fee or charge or imposes a new credit fee or charge. Where a change to the amount of a credit fee or charge or the imposition of a new credit fee or charge does not reduce the Borrower’s obligations or does not extend the time for payment, MiFin will give the Borrower at least 20 days prior notice either by advertisement in a newspaper or in writing to the Borrower. Where a change to the frequency of payment of a credit fee or charge does not reduce the Borrower’s obligations or does not extend the time for payment, MiFin will give the Borrower at least 20 days prior notice in writing.
      3. change the amount or frequency of payment of a repayment. Where such a change does not reduce the Borrower’s obligations or does not extend the time for payment, MiFin will give the Borrower at least 20 days prior written notice.
  9. Mortgage
    • a.The Borrower promises that they own the security property and mortgages the security property to MiFin to secure the Borrower’s obligations under this contract, which include an obligation to pay to MiFin:
      1. the loan account balance plus any amounts charged, accrued or payable but not yet debited to the loan account from time to time; and
      2. enforcement expenses, including MiFin’s reasonable costs of repossessing or taking steps to protect its interest in the security property.
    • b.If the security property can be insured, the Borrower must ensure that insurance over the security property is taken out and maintained and that MiFin’s interest in the security property is notified to the insurer. If the Borrower does not take out or maintain insurance over the security property, MiFin may take out that insurance and any premium paid by MiFin for such insurance will be an enforcement expenses.
  10. General
    • a.If MiFin does not exercise a right or remedy fully or at a given time, MiFin can still exercise it later.
    • b.The Borrower warrants that all statements made and documents provided in or in connection with this contract and all representations which the Borrower has made or may make are true and correct. The Borrower acknowledges that MiFin has relied on the correctness of those statements, documents and representations in entering into this contract and will continue to do so in dealing with the Borrower.
    • c.MiFin may choose at any time to waive any of its rights under this contract. Subject to the requirements of any law, a waiver by MiFin is not a change to, and does not reduce MiFin’s rights, under this contract.
    • d.If MiFin gives the Borrower a certificate which states the amount owing by the Borrower under this contract or any other act, matter or thing relating to this contract, the certificate will be sufficient evidence of those matters unless the Borrower proves it to be incorrect.
    • e.The Borrower agrees that MiFin may give information about the Borrower to any related entity of MiFin.
    • f.If the Borrower comprises more than one individual, the Borrower’s obligations under this contract apply to each of those individuals separately, to all of them as a group, and to any of them.
    • g.The Borrower must notify MiFin as soon as possible if the Borrower changes or intends to change the Borrower’s name or address. MiFin may give any correspondence, notice or other document to the Borrower by sending it to the Borrower’s last mailing address appearing in MiFin’s records, or by any other method permitted by law. The Borrower may nominate an address at which documents may be served on the Borrower.
    • h.The Borrower cannot assign the Borrower’s rights under this contract without MiFin’s written consent.
    • MiFin may assign, transfer or novate to any person, trust or other entity, or otherwise deal in any manner with, any of MiFin’s rights, obligations or interest under this contract.
    • j.This contract is to be read and interpreted as consistent with all laws and if any provision of this contract is invalid or unenforceable in whole or in part the rest of this contract will remain valid and enforceable.
    • k.In this contract the singular includes the plural and vice versa, and a reference to a document (including a document that forms part of this contract) includes any variation or replacement of it.

Meaning of words

  • amount of credit is the amount MiFin lends or will lend the Borrower under this contract. As at the disclosure date it is the amount stated in the Schedule and described as the “amount of credit”.
  • Borrower means the person(s) specified in the Schedule as “The Borrower” and their successors and assigns.
  • business day means a day other than a Saturday, Sunday or public holiday in Queensland and/or Australia.
  • contract means the contract (as varied from time to time) the Borrower make with MiFin when MiFin accepts the offer in the Schedule.
  • daily balance on any day means the loan account balance at the end of that day.
  • disclosure date means the date specified in the Schedule as the disclosure date.
  • GST means any goods and services tax or any similar tax, impost or duty imposed by any law of the Commonwealth of Australia or any State or Territory of the Commonwealth of Australia (whether in force before or coming into force after the date this contract comes into existence).
  • including or include when introducing an example, does not limit the meaning of the words to which the example relates to that example or similar examples.
  • insolvent means being insolvent, including without limitation being bankrupt, or subject to any assignment or composition, protected from creditors under any statute, or otherwise unable to pay debts as and when they fall due.
  • law means common law, principles of equity and laws made by any parliament (and includes regulations and other instruments under laws made by any parliament and consolidations, amendments, re-enactments or replacements of any of them).
  • loan account means the account or accounts MiFin establishes in the Borrower’s name for the purposes of this contract.
  • loan account balance means the difference between all amounts credited and all amounts debited to the loan account.
  • repayment day means the day of the week or the date in a month (as the case may be) specified in the Schedule.
  • MiFin means MiFin Pty Ltd ACN 132 429 595), the credit provider and broker under this contract, and their successors and assigns.
  • security property means the goods (if any) described under the heading Security Property in the Schedule.
  • Schedule means the document entitled “Part 1 – Schedule.”
  • settlement date means the date on which all or any part of the amount of credit is first lent to the Borrower. For the purposes of the information disclosed in the Schedule, it is assumed that the amount of credit will be lent on the day after the Disclosure Date specified in the Schedule.
  • Standard Terms and Conditions means this document.
  • term means the period specified in the Schedule as the term.
Credit Amount ($) Terms in weeks Weekly repayment ($) Total Amount Repayable ($)
1,000 25 57.60 1,440
3,000 78 61.27 4,779.06

WARNING

This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate with the lender that finances your loan.

Contact Details


PO Box 40, Goodna, 4300, QLD.
Ph 1800 825 805
Fax 07 3818 0644
info@mifinance.com.au
www.mifinance.com.au

Complaints and Disputes

If you have a complaint or dispute with MiFin Pty Ltd, please use our internal dispute resolution procedure by contacting: “Complaints Officer” using the contact details shown above. If you are not satisfied with the outcome of our internal dispute resolution process, you may contact our independent external dispute resolution scheme which is:
Credit Ombudsman Service Limited
PO Box A252, Sydney South, NSW 1235.
www.cosl.com.au
Tel: 1800 138 422 - 9am to 5pm Mon to Fri or Fax: 02 9273 8440

Responsible Lending Obligations

We are required by law to make reasonable inquiries about your requirements and objectives in relation to any credit contract suggested or recommended by us; and about your financial situation.
We are also required to take reasonable steps to verify your financial situation, to make a preliminary assessment as to whether any credit contract suggested or recommended by us is unsuitable for you, and to not provide you with credit which is unsuitable.

Copy of Suitability Assessment

If you are given credit and you ask us for a copy of our preliminary assessment of your suitability for a credit contract within 2 years of the date of the “quote for credit assistance” which we provided to you, we must give you a written copy of our preliminary assessment within 7 business days. If you ask after 2 years but within 7 years we must give it to you within 21 business days.

MiFin is committed to a fair and prompt resolution of any disputes or complaints.

Please let us know any concerns you may have promptly because a conversation on the telephone means MiFin can learn how to serve you better and continually improve our customer service. Often complaints are misunderstandings that can be resolved during a telephone conversation. It is recommended that you initially make contact with the staff member you have been dealing with. If you feel the issue is not being resolved satisfactorily you can:

Contact the customer service manager by:

  • Email at info@mifinance.com.au
  • Fax on (07) 3818 0644
  • Mail to our postal address- PO Box 40, Goodna QLD 4300

If you have chosen to email, fax or write to us with a complaint, you will receive an acknowledgement so you will know that we have received your complaint.

The customer service manager will assist you with handling the complaint and will advise if any further information is needed. The customer service manager will liaise with managers and staff at MiFin to find answers for you and if appropriate determine a fair remedy. You will be informed of the decision and the reasons for that decision.

If you are not satisfied with the result of your complaint, and it relates to a credit product, you may wish to contact the Credit Ombudsman Service Limited.

Unless there are exceptional circumstances, we will in all instances respond to your complaint within 45 days of receipt of the initial complaint.

If we are unable to resolve the complaint within 45 days from the initial complaint we will:

  1. Inform you of the reasons for the delay;
  2. Specify a date when a decision can be reasonably expected; and
  3. Notify you of your right to contact the Credit Ombudsman Service Limited.

All complaints will be processed at no charge to you.

Credit Ombudsman Service Limited may be contacted using the following details:

PO Box A252, Sydney South, NSW 1235.
www.cosl.com.au
Email info@cosl.com.au
Tel 1800 138 422
Fax (02) 9261 8440

Privacy Policy

1. Introduction

MiFin Pty Ltd, ABN: 14 132 429 595, ACL: 389 029 ("we"/"us"/"our") endeavour at all times to comply with the Privacy Act 1988 and the Australian Privacy Principles which together will be referred to in this policy as “Australian Privacy Law.” This General Privacy Policy applies to all persons accessing our website, dealing with us or from whom we otherwise collect personal information. We also collect personal and credit information provided by persons applying for or receiving credit from us and, in doing so, endeavour at all times to comply not only with Australian Privacy Law, in general, and, in particular, with the Credit Reporting Code. All persons who apply for or receive credit from us or agree to guarantee another person’s credit from us, will be further protected by our Credit Information Privacy Policy. Any person who receives credit from us and applies to vary the terms of the payments on the grounds of hardship will be additionally protected by our Hardship Privacy Policy.

2. Pseudonyms

You are not required to provide us with your name or any personal information if you do not wish to. You are free to use any name allowed by law. We, however, will not deal further with you without obtaining your real name and other verifiable pieces of personal information. We are not permitted by law to provide you with credit without obtaining proof of your identity and that is covered in our Credit Information Privacy Policy.

3. The kinds of personal information we collect

By accessing this website or otherwise dealing with us you agree to our General Privacy Policy in relation to the collection of personal information by the website. As a result of your visit to our website, we may collect and store information about your visit to this website including:
  • the domain name and IP address of the computer from which you accessed the internet;
  • the date and time you accessed the website;
  • the internet address of the website from which you linked directly to our website;
  • the pages you accessed while visiting the website; and through the use of websites, software and internet tracking devices such as cookies, anonymous identifiers and session variables, we may also collect your email address
Your internet service provider or the providers of your internet browser software may also collect such information for their own purposes. We are not responsible for the collection, storage and use of such information by these entities and refer you to their respective privacy policies. As a result of you dealing further with us, whether as a prospective customer, an actual customer, guarantor and prospective guarantor, contractor, supplier or service provider or employee, we may collect and store personal information from you such as:
  • your name;
  • address, previous addresses and how long you have lived at those addresses;
  • date of birth;
  • your employer, previous employers and how long you have been in such employment;
  • your email address;
  • your telephone numbers; and the details of any references you supply, including the names and addresses of your referees.
If you apply to us for credit we will collect and store credit information in addition to the above personal information and this will be governed by our Credit Information Privacy Policy. If you receive credit from us and you apply to us to vary your payment arrangements under your credit contract due to hardship, you may supply us with sensitive information in addition to the above personal information and other credit information and this will be governed by our Hardship Privacy Policy. If you apply to us for employment, we may also collect and store personal and, in addition, sensitive information about you including your:
  • education, training and other qualifications;
  • work history;
  • professional or trade associations or union membership;
  • hobbies and other interests; and
  • criminal history.

4. How we collect your personal information

We may collect personal information about you from your visit to our website through the use of technologies such as anonymous identifiers, session variables, and cookies. You may be able to set your internet web browser to block or limit cookies. Some features of our website may not work as efficiently or not at all if you have done so. As a result of you dealing further with us, we may collect personal information directly from you and this may be in person, over the telephone, by mail, over the internet, by email or fax or by completion of an application or consent form whether on-line or otherwise. If you:
  • apply to us for credit;
  • agree to guarantee credit from us to another person; receive credit from us;
  • apply to us to vary the terms of your payments under your (consumer) credit contract on the grounds of hardship; or
  • apply for employment with us;
we may collect personal, credit and sensitive information about you from other sources when it is impractical or unreasonable for us to collect it directly from you. Among these other sources may be:
  • a credit reporting body; someone authorised by you such as an agent, broker, accountant, solicitor, financial counsellor, introducers or a guarantor;
  • a referee;
  • an employer;
  • a government body;
  • another financial institution;
  • a professional or trade association or trade union our agents.
and we may collect that information directly from them in person, over the telephone, by mail, over the internet, by email or fax or by completion of an application or consent form whether on-line or otherwise.

5. How we hold your personal information

We use our best endeavours and take all reasonable steps to secure your personal information including:
  • maintenance of a secure environment for storage of information whether in hard copy or in electronic form;
  • requiring that access to such information be confined to authorised personnel only;
  • using technology such as encryption and password protection to secure any information kept in electronic form.
We are not responsible for the security of any computer or other device which you use to access our website.

6. The purposes for which we collect, hold, use and disclose your personal information

If you are a user of our website, a prospective customer, a customer or guarantor of a customer’s credit, a contractor or supplier of goods and services to us, a job applicant or other person from whom we collect, hold, use and disclose your personal information we shall do so only for those purposes which are:
  • permitted by Australian Privacy Law;
  • necessary for:
    • the administration of any contract of supply of goods or services to or by us;
    • the provision of our products to our customers;
    • the consideration, assessment and administration of any proposed guarantee of credit;
    • assessment and processing of any job application; otherwise for the administration and management of our business;
  • for the improvement of our website;
  • required by law;
  • required in order to investigate or assist with any investigation into any complaint about the conduct of our business, in particular, under Australian Privacy Law;
  • to otherwise enforce any term of any contract or other right which arises out of our dealings with you.;
  • to communicate with you, by way of direct marketing, information about our products and for other third parties to also communicate with you by way of direct marketing, information about their products;
  • Customer service. If you do not wish us to do so, you can “opt out” of such communication by informing us in person, by telephone, by facsimile, by post or by email;
  • to search and/or register any Personal Property Securities; necessary as part of a prospective sale, transfer or restructure of our business; or
  • to otherwise communicate with you or the purposes outlined above.
In addition, if you apply to us for credit or receive credit from us, we will collect, hold, use and disclose your personal information in order to:
  • assess your credit application including that of any proposed guarantor;
  • manage your credit contract;
  • consider any application for variation of your payments whether or not on the grounds of hardship;
  • collect any debt or otherwise enforce any rights arising under your consumer credit contract.
To find out more on how we deal with your credit information or sensitive information if you apply to us for credit or receive credit from us, please see our Credit Information Privacy Policy. We may disclose your personal information, including credit and sensitive information, to other parties as part of a process of merger, acquisition, sale of our business or our other assets and, before doing so, will give you notice and an opportunity to opt out of the provision of such information in that instance If, for any of the above purposes, we disclose your personal information to any supplier of services to our business or to any prospective purchaser of our business which we shall do so only if it is necessary for the purposes listed above, we shall:
  • do so in accordance with Australian Privacy Law;
  • obtain assurances from those suppliers that they comply with Australian Privacy Law.

7. Whether we supply your personal information to overseas recipients

We supply your personal information to overseas recipients as part of our information technology systems. Those recipients are likely to be in the following countries: The United States of America and New Zealand. 8. How you may access your personal information held by us You may request access to your personal, sensitive and credit information held by us by identifying yourself in person, by facsimile or by scanned attachments to an email and sending your request for access to us at: Privacy Officer, MiFin Pty Ltd, Email: info@mifinance.com.au; Tel: 1800 825 805. If we are unable to grant your access to personal, sensitive or credit information, we will give you our reasons in writing within a reasonable time. These may include where providing the information to you may:
  • reveal personal information about another individual person;
  • pose a threat to the health or safety of another individual person;
  • not be permitted by law;
  • reveal internal information of a commercially sensitive nature which is not required to be disclosed to you by Australian Privacy Law.

9. How you may correct any personal information we hold about you which is incorrect

If you believe any personal information which we hold about you is incorrect, please contact us in person by telephone, by facsimile, by email, identify yourself and tell us what information which we hold about you is, in your belief, incorrect and how you want it changed. If we cannot agree to the change to the information which you have requested, we will give you reasons in writing within fourteen (14) days.

10. How you may complain about how we deal with your personal information

If you are not satisfied with the reasons referred to above or otherwise have any complaint about how we collect, hold, use or disclose your personal information please contact our Privacy Officer who will then follow our Privacy Internal Dispute Resolution process and respond to your complaint within fourteen (14) days. Our Privacy Officer can be contacted at: Privacy Officer, MiFin Pty Ltd, Email: info@mifinance.com.au; Tel: 1800 825 805. If you are not satisfied with our Privacy Internal Dispute Resolution process, you may refer your complaint to our External Dispute Resolution Scheme. Our External Resolution Scheme is: Australian Financial Complaints Authority Limited, GPO Box 3 Melbourne, VIC 3001, Tel: 1800 931 678 9:00am–5:00pm AEST weekdays, Email: info@afca.org.au; Website: www.afca.org.au. You can, of course, at any time, refer any complaint about the privacy of your personal information directly to: The Office of the Australian Information Commissioner,GPO Box 2999 CANBERRA ACT 2601 Tel: 1300 363 992 Fax: 02 9284 9666 Website: www.oaic.gov.au

11. Changes to this Policy

From time to time, we may make changes to this General Privacy Policy because of: changes to the law; changes to technology; changes to our systems We will notify such changes on our website. Where the changes may affect you in a particular way, and you have a (consumer) credit contract with us, we will notify you if required by Australian Privacy Law and our Credit Information Privacy Policy.

2. CREDIT INFORMATION PRIVACY POLICY

1. Introduction

MiFin Pty Ltd endeavour at all times to comply with the Privacy Act 1988, Australian Privacy Principles and the Credit Reporting Code which together will be referred to in this policy as “Australian Privacy Law.” This Credit Information Privacy Policy is subject and in addition to our General Privacy Policy. It applies to you if: you apply to us for one of our credit products; you receive credit from us; or we otherwise hold credit information about you or information about your eligibility for credit or credit worthiness.

2. What kinds of credit information do we collect, hold, use and disclose?

As well as and in addition to the information collected under our General Privacy Policy, if you apply for credit from us we may collect:
  • Identification information;
  • Financial Information including:
    • Income (from all sources including government benefits) and current employment status and recent history;
    • Assets;
    • Expenses;
    • Debts;
    • Statements of Deposit Accounts with financial institutions for at least the 90 days prior to you making your application to us for consumer credit and for later periods if you receive consumer credit from us.
  • Consumer credit liability information about the consumer credit accounts you hold whether with us or some other credit provider including:
    • type of account;
    • when it was opened and, if applicable, closed;
    • if a credit account, then the maximum amount of credit approved;
    • other specific terms and conditions of the account.
  • Information about your credit application including:
    • The type of credit, whether consumer or commercial;
    • The amount of credit sought.
    • Whether we made an information request about you to a Credit Reporting body.
  • Default information about you when you have failed to make a payment owed by you to us or some other credit provider which remains overdue for more than 60 days and which, after giving you notice as required by the Australian Privacy Laws, we may disclose to a credit reporting body or which has already been disclosed to a credit reporting body by another credit provider.
  • Payment information which discloses that you have made an overdue payment whether to us or to another credit provide
  • New payment information about you as to the terms and conditions of any variation in the payments required under your credit contract with us or with another credit provider.
  • Court proceedings information about a judgment of any Australian court that was made against you in relation to any credit that was provided to or applied for by you.
  • Personal insolvency information which has been recorded in the National Personal Insolvency Index maintained by the Australian Financial Security Authority relating to any bankruptcy, debt agreement, debt agreement proposal or a personal insolvency agreement executed by you, and any direction or order made under the Bankruptcy that relates to your property
  • Publicly available information about you that is not otherwise described above but which is relevant to your credit worthiness.
  • Serious credit infringement information which relates to credit which we or some other credit provider has provided to you to the effect that you:
    • fraudulently obtained credit;
    • fraudulently evaded payments under a credit contract;
    • are not able to be contacted at the last known addresses supplied to us or have not been in contact with us for 6 months; or
    • are otherwise no longer intending to comply with your credit obligation

    3. How do we collect credit information?

    We collect credit information in the same ways we collect personal information as described in our General Privacy Policy and, additionally: We collect credit information about you from you directly such as in an application form for credit; and We collect credit information about you from credit reporting bodies.

    4. How do we hold your credit information?

    We hold and keep secure your credit information in the same ways as all your personal information as described in our General Privacy Policy.

    5. How do we disclose your credit information?

    In order to obtain credit information about you from credit reporting bodies we may be required to disclose to them credit information about you which we hold. Those credit reporting bodies may then include that credit information about you in reports they provide to other credit providers. This includes all the credit information described above with the exception of your Financial Information. It does, however, particularly include:
    • Information about your credit application;
    • Default information; and
    • Serious Credit Infringement information.
    The credit reporting bodies to which we may disclose your credit information are: Illion (Australia) Pty Ltd PO Box 7405, St Kilda Road, MELBOURNE Vic 3004 Email: chc-au@illion.com.au www.illion.com.au or Equifax PO Box 964, North Sydney, NSW 2059, Tel 138 332 www.mycreditfile.com.au or Experian Australia Credit Services Pty Ltd GP0 Box 1969, North Sydney NSW 2060 creditreport@au.experian.com http://www.experian.com.au/order-credit-report We refer you to the relevant Privacy Policy of these credit reporting bodies.

    6. The purposes for which we collect, hold, use and disclose your credit information

    In addition to those purposes described in our General Privacy Policy, we collect, hold, use and disclose your credit information to:
    • assess your credit application and that of any proposed guarantors of your credit;
    • manage your credit contract;
    • consider any application for variation of your payments whether or not on the grounds of hardship;
    • collect any debt or otherwise enforce any rights whether by court proceedings or otherwise arising under your credit contract;
    • assist you if we consider you may be at risk of default;
    • participate in the credit reporting system and provide information to credit reporting bodies as described above;
    • undertake securitisation activities or any assignment of debt;
    • deal with any complaint by you through our Internal Dispute Resolution process or through our External Dispute Resolution scheme as described in our General Privacy Policy;
    • to identify you as required by the Anti-Money Laundering/Counter-Terrorism Financing Act;
    • meet our legal requirements including providing your credit information to relevant authorities;
    • assist other credit providers with the same purposes as permitted by Australian Privacy law such as disclosing credit information to them with your consent or where you have committed a serious credit infringement.
    We shall not disclose your credit information to any other party for the purposes of direct marketing though we may disclose other personal information for that purpose as described in our General Privacy Policy.

    7. Whether we supply your personal information to overseas recipients.

    We may supply your credit information to overseas recipients such as those mentioned in our General Privacy Policy as part of our information technology systems for the purposes described above. Those recipients to be in the following countries: The United States of America. We shall not provide credit information and credit worthiness or credit eligibility information to overseas entities except as permitted by Australian Privacy Law.

    8. How you may access your credit information held by us

    You may access your credit information held by use in the same way and subject to the same restrictions as you may access any of your personal information held by us as described in our General Privacy Policy. There is no charge to make a request for access to your credit information but we may apply an administration fee for providing access to your credit information. We cannot give you access to credit information held about you by any credit reporting body whether that body obtained the information from us or not. We refer you to the Privacy Policy of that credit reporting body.

    9. How you may seek correction of the credit information we hold about you

    You may apply to correct the credit information we hold about you in the same way and subject to the same restrictions as you may do so for any of your personal information held by us and as described in our General Privacy Policy. We will deal with your request according to Australian Privacy Law and provide you our response and/or reasons within 7 business days and making our decision no later than 30 days after receiving your request. If we have supplied credit information which we have agreed to correct to a credit reporting body, we will notify that body within 7 business days of making that decision.

    10. How you may complain about how we deal with your credit information

    If you are not satisfied with how we have dealt with your credit information, please contact our Privacy Officer in the same way as is described in our General Privacy Policy. Again, if you are not satisfied with our Internal Dispute Resolution Process in relation to credit information, you may refer your complaint to our External Dispute Resolution scheme as described in our General Privacy Policy or to the Office of the Australian Information Commissioner.

    11. Changes to this policy

    We may change this policy for the same reasons and in the same manner and with the same notice as is described in our General Privacy Policy.

    3. HARDSHIP PRIVACY POLICY

    1. Introduction

    MiFin Pty Ltd (“we”/”us”/”our”) endeavour at all times to comply with the Privacy Act 1988, Australian Privacy Principles and the Credit Reporting Code which together will be referred to in this policy as “Australian Privacy Law.”
    • This Hardship Privacy Policy applies if you:
    • have received credit from us;
    • are experiencing difficulty in meeting your repayment obligations under your (consumer) credit contract with us; and
    • have applied for or approached us for a variation in those obligations on the grounds of hardship whether as a result of receiving a Notice of Default or other notice from us or otherwise
    It is subject and in addition to our General Privacy Policy and our Credit Information Privacy Policy.

    2. Hardship

    “Hardship” as defined in the National Consumer Credit Protection Act 2009 (‘NCCP’) includes “illness, unemployment or other reasonable cause.” In the course of you applying for a variation in repayment terms on the grounds of hardship, we may collect from you information about illness, unemployment or other reasonable causes of hardship. This will, most likely, be “sensitive information” under Australian Privacy Law.

    3. Sensitive Information

    We will only collect sensitive information that is relevant to your application for a variation in your repayment terms on the grounds of hardship. Such information may include:
    • health information about you or another member of your family;
    • your current employment status;
    • your education, training and other qualifications;
    • whether you are a member of a professional or trade association or trade union;
    • changes to your marital status;
    • other matters relevant to your application and which are not otherwise usually collected by us as personal information or credit information in the ways for the purposes described in our General Privacy Policy and our Credit Information Privacy Policies.

    4. The purposes for which we collect and use your sensitive information

    We will only collect, use, hold and disclose your sensitive information for the following purposes and in the following ways to:
    • assess your application for a variation to the terms of repayment under your (consumer) credit contract on the grounds of hardship (‘hardship variation’).
    • explain our decision whether or not we agree to a hardship variation.
    • administer, monitor and record any agreed hardship variation.
    • consider any complaint about our decision to refuse a hardship variation in our Internal Disputes Resolution process.
    • respond to any complaint about our decision to refuse a hardship variation made to our External Dispute Resolution scheme.
    • manage our business including our responsible lending obligations and our systems for considering applications for hardship variations as required by the NCCP and other relevant law
    • account to relevant authorities under the NCCP and Australian Privacy Law.

    5. How we disclose your sensitive information

    We shall not disclose your sensitive information to any party except for the purposes described above and as permitted by Australian Privacy Law. In particular, we shall not disclose your sensitive information to any credit reporting body or any other credit provider though we may disclose that you have entered into a hardship variation to such parties.

    6. Whether we supply your sensitive information to overseas recipients.

    We may supply your credit information to overseas recipients such as those mentioned in our General Privacy Policy as part of our information technology systems for the purposes described above. Those recipients to be in the following countries: The United States of America We shall not provide credit information and credit worthiness or credit eligibility information to overseas entities except as permitted by Australian Privacy Law.

    7. How you may access your sensitive information held by us

    You may access your sensitive information held by use in the same way and subject to the same restrictions as you may access any of your personal information held by us as described in our General Privacy Policy. There is no charge to make a request for access to your sensitive information but we may apply an administration fee for providing such access.

    8. How you may seek correction of the sensitive information we hold about you

    You may apply to correct the sensitive information we hold about you in the same way and subject to the same restrictions as you may do so for any of your personal information held by us and as describe in our General Privacy Policy.

    9. How you may complain about how we deal with your sensitive information

    If you are not satisfied with how we have dealt with your sensitive information, please contact our Privacy Officer in the same way as is described in our General Privacy Policy. Again, if you are not satisfied with our Internal Dispute Resolution Process in relation to your sensitive information, you may refer your complaint to our External Dispute Resolution scheme as described in our General Privacy Policy or to the Office of the Australian Information Commissioner.

    10. Changes to this policy

    We may change this policy for the same reasons and in the same manner and with the same notice as is described in out General Privacy Policy.
Website Terms of Use This website, https://www.mifinance.com.au/, is owned by MiFin Pty Ltd, ABN: 14 132 429 595, ACL: 389 029. By accessing this website, you are agreeing to abide by terms and conditions set in place and governed by MiFin Pty Ltd. By entering and utilising this website you have taken on a responsibility to be compliant with any local applicable laws.
Liability
MiFin Pty Ltd (and its employees and associates), is not liable to any party/parties in relation to the use of this website that results in any loss or damages. We do not assure the security of information electronically transmitted and your communication with us through such means signifies your acceptance of any risk attaching thereto.
Copyright
The copyright of everything you see on this website is proprietary information belonging solely to MiFin Pty Ltd. We encourage you to use the site but in doing so, to acknowledge that you may not reproduce or transmit anything from it without first obtaining our permission.
Security
Our website is secured by the GeoTrust SSL Certificate, along with our state of the art system and strategic processes you can be assured your personal information in extremely secure.
Privacy Statement
While using this website, information may be collected from you. We understand the importance of handling your information in a responsible manner and we are dedicated to conduct business in an open and transparent way to reflect this. For further information on how we collect, use, hold and disclose information, please refer to our Privacy Policy.
Cookies
This website may send you “cookies” to help identify you when dealing with us online. If you have visited our website from a paid advertising source, anonymous information such as previous pages visited may also be collected to improve advertising effectiveness.
Third Party Websites
There are links on this website to the websites of other service providers whose presence is purely to make your interaction with us more pleasurable and purposeful. When following such open links, you will be leaving our website and in so doing, you will lose our indemnification. We accept no liability for any loss or damages resulting from the use of a link on this website.
Contact Us
If you have any questions in regards to this privacy policy, or would like to know more about our management and use of information, you can contact us at:

Phone: 1800 825 805
Post: ________ Email: info@info@mifinance.com.au
Website: https://www.mifinance.com.au/

We will endeavour to respond to any queries or requests as soon as practically possible.

We will endeavour to respond to any queries or requests as soon as practically possible. Dispute Resolution Policy MiFin Pty Ltd is committed to providing the highest level of customer care and ensuring you are fully satisfied with the products and services we offer. If there is an instance where you feel we have not honoured this commitment and you would like to make a complaint, we will endeavour to resolve the matter in a genuine and fair manner.
Contact Us Directly
As many complaints can be resolved with a simple conversation, your first point of contact should always be our customer contact centre, who can be contacted at: Phone: ______ Email: info@mifinance.com.au/ Website: https://www.mifinance.com.au/ Our friendly and helpful staff will endeavour to resolve the complaint with you as quickly as possible.
Internal Dispute Resolution Procedure
If your complaint is not adequately handled by our contact centre, you may raise your complaint with our complaints officer, who can be contacted at: Email: complaints@mifinance.com.au/ Post: _______ In your communication to our complaints officer, please provide clear details of your dispute and your return contact details. The complaints officer will investigate the matter and provide you with a final response within 21 days of the initial complaint detailing:
  • the outcome of the dispute
  • the reasons for the outcome
  • your right to pursue the dispute with our External Dispute Resolution scheme
  • the contact details of our External Dispute Resolution Scheme
External Dispute Resolution Scheme
If you are not satisfied with our response, you may refer the complaint to our external dispute resolution scheme. The external dispute resolution scheme to which we belong is the Credit & Investments Ombudsman, who can be contacted at; Australian Financial Complaints Authority Postal Address GPO Box 3, MELBOURNE VIC 3001 Phone 1800 931 678 Email info@afca.org.au
Disputes Related to The Privacy Act 1988
If the matter relates to the Privacy Act 1988, you may also refer the matter to the Privacy Commissioner. The Privacy Commissioner, in the Office of the Australian Information Commissioner, can be contacted at; Privacy Commissioner Phone: 1300 363 992 Fax: (02) 9284 9666 Mail: GPO box 5218, Sydney NSW 2001 E-Mail: enquiries@oaic.gov.au Website: www.oaic.gov.au
Our commitment to You
As a part of our commitment to providing the best possible service to you, all complaints will be dealt with in a professional and just manner. You will also not be charged for using any of the services mentioned in this policy. If you feel we have not addressed your complaint in a satisfactory manner, we encourage you to bring this to our attention. Acknowledgement & Consent MiFin Pty Ltd, A.B.N 14 132 429 595 and Australian Credit Licence Number 389029. I understand that by completing an application form that MiFin Pty Ltd (the entity) will collect, use, hold and disclose my information as outlined in the Privacy Policy, which I declare that I have read and understood.

Collection of information

I consent to the entity collecting personal and credit information from me. I understand that if I do not provide all information that is requested from me the entity may be unable to provide me with their financial services. I also understand that if any of my personal information should change, such as residential address, phone number, email address, etc, it is my responsibility to advise the entity of this. I understand it may not always be practical or reasonable to collect information from me and as such, I provide my consent for the entity to collect personal information about me on an ongoing basis from:

  • publicly available sources such as public registers;
  • referees or point of contacts;
  • employers or income providers;
  • other financial service providers and financial institutions;

If any of these parties should request this Acknowledgement and Consent before providing information, I consent for this to be provided to them.

Use of information

I consent to the entity collecting my information for the purposes of providing me with financial services and any related purpose including but not limited to:

  • lending activities including accepting and assessing loan applications and disbursement of credit;
  • credit management functions relating to the management of accounts and collection of overdue amounts;
  • customer service requests such as providing access to and updating personal information and resolving disputes;
  • gathering information and statistical data to analyse and evaluate business functions;
  • developing our service offerings and improving overall business processes and efficiency.

Disclosure of information

I consent to the entity disclosing my personal information to provide me with their financial services and any other related purpose as outlined above, on an ongoing basis to:

  • my personal point of contacts, my employers and income providers;
  • other financial institutions and debt collection agencies;
  • credit providers, credit brokers, other referrers and other service providers.
  • financiers, insurers, auditors, contractors, agents or service providers the entity uses to offer services;
  • any other entity.

I understand my information may also be disclosed in other circumstances outlined in the entity’s privacy policy.

I understand the entity may, in the ordinary course of our business, disclose my credit information to third parties which operate in the United States of America and while these parties may not, therefore, be subject to Australian Privacy Law, no person in those countries will be able to access my credit eligibility information without my express consent.

Promotion of Products and Services

I consent to being contacted by the entity, and any external third parties or agents who act on their behalf, for the purposes of the promotion of products and services. I understand the entity may promote the products of their marketing partners. I understand that I may withdraw my consent and request not to receive promotional communications at any time by contacting the entity.

Exchange of Information with Credit Reporting Bodies

I give my expressed and informed consent to the entity exchanging my personal and credit information with credit reporting bodies.

I understand that by giving this consent, the entity may collect information about me from credit reporting bodies, such as a credit report about me, as outlined in the entity’s Privacy Policy. I also understand that by giving this consent, the entity may disclose information about me to credit reporting bodies, such as default information about me, as outlined in the entity’s Privacy Policy.

I consent to the entity disclosing my information, such as name, date of birth, address, phone number and identity document information, such as Drivers Licence and Medicare Card, to a credit reporting body to complete an electronic identity verification. I understand that the credit reporting body will attempt to match the information I have provided with the information they have access to and provide an assessment. I understand as part of the identity verification process;

  • the information will be subject to an Information Match Request in relation to relevant Official Record Holder information;
  • that the Information Match Request, the Information Match Result and other Information Match Data and our access to and use of the;
  • document Verification Service may involve the use of third-party systems and services; and
  • that information provided to or by you in or from Australia will be transmitted to New Zealand or vice versa.

I understand that if no match is found between the details I provide, and the information held by the credit reporting body, the entity will notify me of this. I also understand that if no match is found, I will have the opportunity to provide further documentation to verify my identity. I understand that if the entity is unable to verify my identity, the entity will be unable to provide me with financial services.

I understand that the details of the credit reporting body(s) that lender Exchanges information with are as follows;

Equifax Pty Ltd (Equifax)
W: www.equifax.com.au
PP: www.equifax.com.au/privacy
T: 13 8332

Experian Australia Credit Services Pty Ltd (Experian)
W: www.experian.com.au
C: http://www.experian.com.au/contact-us

Illion (formerly Dunn & Bradstreet)
W: www.dnb.com.au
PP: http://dnb.com.au/privacy-policy.html
E: publicrelations@dnb.com.au
T: 1300 734 806

Exchange of Information with Other Providers

I understand that by providing my consent to exchange my information with credit providers, credit brokers, other referrers and other service providers, this information may be sold to them or disclosed for a fee. The amount of the fee would be determined on referral. I understand where my information is exchanged, it is being exchanged for any of the purposes for which I have consented to the entity, including offering me products and/or services.

I understand that by providing my consent to exchange my information with credit providers, credit brokers, other referrers and other service providers, I am consenting to the entity exchanging all of my application information, such as my identification details, what type of loans I have, how much I have borrowed, whether I have met my loan payment obligations and if I have committed a serious credit infringement (for example, fraud).

Electronic Communications

I consent to receive all communications, information and documents, where possible, from the entity through electronic communications, including but not limited to:

  • requests for information regarding credit applications and contract variation requests;
  • disclosure documents such as credit guides and information statements, copy of assessments, credit contract documents, variations of these and credit contract offers;
  • notices, such as missed payment notices, default notices, final notices, settlement notices and account statements;
  • marketing materials and promotions;
  • any other communications, information, or documents that must or will be provided to you or which you have requested.

I understand that by giving consent to receiving electronic communications;

  • communications may be sent via any electronic means, such as SMS and email;
  • electronic media must be regularly checked for communications, information and documents;
  • it is my responsibility to ensure the security of my electronic communications;
  • paper-based documents may no longer be given;
  • consent to the giving of documents by electronic communication may be withdrawn at any time.

Commercial Electronic Messages

I understand that under the Spam Act 2003, the entity may not communicate with me via commercial electronic messages unless I provide my consent. I consent to the entity communicating with me via commercial electronic messages (email, SMS, fax) to provide me with convenient and fast communications.

Electronic Bank Statement Retrieval

By making an application, I consent to the lender using on my behalf an electronic statement retrieval solution to collect my bank statements and transaction information. (If you do not agree you will not be able to proceed to use this online service.)

I understand that one or all the following statements retrieval providers may be used;

  • Proviso (Privacy Policy: https://proviso.com.au/terms/. Terms and conditions: https://proviso.com.au/privacy/.)
  • Credit Sense (Privacy Policy: https://creditsense.com.au/privacy-policy.)
  • Credfin (Privacy Policy: https://www.credfin.com.au/privacy)

I understand that by using an electronic statement retrieval solution, such as those above:

  • I have read and agree to their User Terms & Conditions and Privacy Policies.
  • I understand I am using these services at my own risk.
  • I consent to them having read-only access to my bank account transaction data and for this data to be provided to the entity and any party I have consented to.
  • I understand that the transaction data supplied may include transactions from the previous 12 months from all available accounts.
  • I understand my user login credentials are encrypted and safely stored by a third-party service provider on their servers in a secure environment outside Australia and that no unauthorised party will have access to this information.
  • I authorise the entity to use my encrypted login credentials in any future credit services and for the entity to request a read-only transaction history.

Declaration

I declare that I have read and understood this Acknowledgement and Consent document and that I acknowledge, authorise and consent to all the terms that it sets out.