Data Protection & Credit Check
In considering your application V Loans and other selected lenders will search your record at a credit reference agency/ies. They will add to your record details of our search and your application. This will be seen by other organisations carrying out later searches. V Loans will use a credit scoring or other automated decision making system when assessing your application. It is important that you give us accurate information. V Loans and other organisations may use and search these records to:
- help make decisions about credit and credit related services, for you and members of your household;
- help make decisions on motor, household, credit, life and other insurance proposals and insurance claims, for you and members of your household;
- trace debtors, recover debt, prevent fraud, and to manage your accounts or insurance policies;
- check your identity to prevent money laundering, unless you furnish us with other satisfactory proof of identity. The credit reference agency/ies and the fraud prevention agency/ies will also use the records for statistical analysis about credit, insurance and fraud. Please telephone V Loans on 0844 800 2291 if you want to have details of those credit reference and fraud prevention agencies from whom V Loans obtain information and with whom V Loans record information about you. You have a legal right to these details. You have a right, on payment of a fee, to receive a copy of the information V Loans hold about you if you apply to us in writing.
