What personal information do we collect?
We may collect the following personal information about you when you access our Site, including during your application for credit with LAI:
name and contact information
We may also obtain personal information (including credit information) from credit bureaus or other lenders, or from pre-authorized debit forms, loan agreements or credit life and disability insurance applications or policies issued for you, whether at the time of your initial application or from time to time on an ongoing basis.
Non-personal identification information we collect
We may collect non-personal information about you when you interact with our Site, including computer and technical information about your means of connection to our Site. Non-personal identification information may include the browser name, operating system, Internet service provider and other similar information. We may use this information to improve our Site and provide services such as technical support. We may also provide aggregate statistics about our customers, sales, traffic patterns, and related Site information to reputable third parties, but this data will not include personally identifiable information related to specific individuals.
How we may use your personal information
We may collect and use your personal information either internally in connection with our business or to provide services to you, or through carefully vetted third party service providers, for the following purposes:
i) confirmation of your identity;
ii) the initial and ongoing credit assessment of your credit worthiness, employment, and application information;
iii) to meet the legal and regulatory requirements applicable to us, our service providers and in connection with any loans provided to you;
iv) creation of a loan, credit life and disability insurance coverage, or electronic pre-authorized debits of your bank account for loan payments;
v) administration of your loan(s) and collection of payments from you before or after a default;
vi) marketing of our services to you, as well as those of our affiliates and third parties; and
vii) statistical analysis for our business plans and to raise capital or loans for our business, including sales of portfolios of loans to third parties.
Where applicable, we will seek your express consent to send you information, including by way of commercial electronic messages. This consent is sought by DEBTOUT at 4773 Yonge St, North York, ON M2N 5M5 You can unsubscribe at any time by following the instructions in the commercial electronic message, or by contacting us at +1-800-377-1832.
Please be aware that, even if you have opted out of receiving marketing communications from us, we may still contact you for other purposes. For example, we may contact you to provide other newsletters or other communications you have consented to receive, regarding your loan, or if you contact us with an inquiry.
Transfers and disclosures of personal information
We will transfer or disclose your personal information in limited circumstances, including the financial institution processing your pre-authorized debt payments, the insurance company providing your credit life and accidental disability policy to us, credit reporting agencies, third parties to whom you direct any loan to be paid, our lenders and other service providers that assist us to provide and administer loans, our affiliated companies and its lenders, and to any third parties that may purchase your loan from us. We may also disclose your personal information with your consent, when required or permitted to by law, or in the event of a corporate amalgamation, reorganization, change of control or sale.
Security and retention
We protect the personal information within our control with appropriate organizational, technological and physical safeguards. We understand that some of the personal information we hold may be sensitive information, including financial and credit information, and employ appropriately robust safeguards. We store personal information in electronic and physical files that are secure, and our security measures include secure on- and off-site storage, restricted access to records and data processing equipment, password protocols, and encryption and security software.
The personal information that we hold is only retained for as long as is necessary for the purpose for which it was collected. When we no longer are required to retain the information, we will destroy, erase, or de-personalize the information. Legal requirements, however, may require us to retain some or all of the personal information we hold for a period of time that is longer than that for which we might otherwise hold.
Your personal information may be stored, processed or otherwise used by us, our affiliates or our service providers, both inside and outside of Canada. As a result, that country's courts, governments or law enforcement agencies could obtain disclosure of your information in accordance with that country's laws.
If you are uncomfortable with the idea of your information being stored in cookies, we recommend disabling cookie support in your browser. However, please note that this may limit the Site’s performance functionality.
If you wish to see your file or make corrections to it, write to the Privacy Officer at our offices at DEBTOUT, 4773 Yonge St, North York, ON M2N 5M5