Privacy Statement

1. Who are we?

This privacy statement describes how certain companies within the LC Financial Holdings Group use and share personal data we receive from you or other sources  (referred to as “we”, “us” or “our” in this privacy statement). When we become the data controller of your personal data, we will let you know which company within the Group you have a relationship with.

We have prepared this privacy statement to comply with (i) the EU Regulation n°2016/679 of 27 April 2016 on the protection of natural persons with regard to the processing of personal data and on the free movement of such data (the “GDPR”) and (ii) any applicable national data protection laws (including but not limited to the Luxembourg law of 1ˢᵗ August 2018 on the organisation of the National Data Protection Commission and the general data protection framework, as may be amended or replaced) (collectively hereinafter the “Data Protection Laws”).

We take privacy seriously and we are open and transparent about how we handle your personal data and about our obligations under the Data Protection Laws.

This privacy statement explains the basis on which we will control and process any personal data we collect from you or that you may provide to us.

We are responsible for any such personal data in our capacity as a data controller, as determined in accordance with the Data Protection Laws.

We have tried to keep this statement as straightforward as possible. However, if you require any further information or clarification then you may contact us directly using the details below or by contacting the asset manager appointed to manage your loan day to day. They will receive and process any requests, complaints or enquiries about your rights on our behalf:

LCM Partners Limited
11 Belgrave Road
London SW1V 1RB
England

[email protected]

2. What information do we collect?

Personal data means any information relating to an identified or identifiable natural person. It does not include anonymised data.

Personal data

We may process the following categories of personal data about you:

• Customer data – this includes data such as name and surname, identity card/passport number and period of validity, signature, gender, date of birth, country of residence, nationality, position, occupation, professional title, national identification, tax identification number, telephone number, postal and email address.
• Client data – this includes data such as names, title, address, email address for the purposes of carrying out know your client and anti-money laundering checks.
• Financial data – this includes details about your accounts (including your account number), your customer number (including any former customer number), your outstanding debt amount, any information related to legal proceedings and enforcement measures regarding your debt and any correspondence with you or your legal representative regarding the above.
• Technical data – this includes data about how you use our website such as your IP address, your login data, details about your browser, length of visit to pages on our website, page views and navigation paths, details of the number of times you use our website. The source of this data is our analytics tracking system.

Profiling and automated decision-making

We do not make decisions about you solely by automated means where those decisions would have legal or similarly significant effects on you. We may use technology, including artificial intelligence, to support our services and internal processes, but any significant decisions involving your personal data are subject to appropriate human review and oversight.

Special Category Data

Where we process special category personal data (e.g. health data), we will do so only where permitted to do so under law, including, where relevant, your explicit consent. Where relevant, we will send you a further communication asking you to confirm your consent for the processing of your special category personal data.

Where applicable, if we believe you or another person are in immediate danger, we may process information relating to your physical or mental health where this is necessary to protect your vital interests or those of another natural person.

3. How do we collect your data?

We may collect data about you when you provide the data directly to us (for example, by sending us emails or through other forms of correspondence we have with you, including telephone calls). 

We may obtain data about you from the previous (or current) owner of your account. This information may include, amongst other things, account records, payment history, correspondence records and information relating to collection or legal activities.

Third parties that we appoint may collect data from you and pass it on to us and we may also use third party data sources, such as publicly available sources.

We may automatically collect certain data from you as you use our website through our use of cookies and similar technologies. Please see our cookie policy for more details about this.

We may receive data from third parties such as analytics providers for example, Google, some of which may be based outside the United Kingdom and/or the European Economic Area. Please see section 11 below for further details.

4. What do we do with your information?

We may process your personal data on one or more of the following lawful bases:

• for the performance of a contract with you; and/or
• for compliance with a legal obligation to which we are subject; and/or
• for the purposes of our legitimate interests, except where such interests are overridden by your interests or fundamental rights and freedoms.

The specific purposes for which we process your personal data, together with the applicable legal basis and the categories of personal data processed for each purpose, are set out in  Appendix 2 to this privacy statement. Where our purposes change over time, we will inform you of any new processing in accordance with applicable Data Protection Laws.

5. Who do we share your information with?

We may share your information with the following recipients: our directors, shareholders and affiliates, financial institutions, the previous or current owner of your loan (or their advisers and third party service providers), prospective purchasers, investors and their advisers, investment companies, accountants, lawyers, auditors, insurers, professional advisors, or other third party service providers who provide services to us such as those that assist us with running our business (e.g. IT service providers) and asset management companies appointed to administer your loan on our behalf.

We may also disclose information to regulatory authorities, courts and other public bodies where we have a legal or regulatory right or obligation to report as well as to credit reference agencies operating in the relevant jurisdiction, in connection with the management and recovery of your account. Further, we may share your information with third parties to whom we sell, transfer or merge parts of our business or our assets.

If we instruct third party debt collection agencies and third party law firms to act on our behalf to recover the debt you owe, take legal action and enforce any judgments that we may have against you, we will share your information with them.

Where you have asked a third party to support you with your account, we may share your information and discuss your account with them.

If you pay via Direct Debit, we will share your data with the Direct Debit scheme.

It is our commitment that prior to disclosing any personal data about you to another organisation we have taken all reasonable steps to ensure that that organisation will hold and protect your information with adequate security measures and in accordance with relevant regulation.

6. How do we keep your information safe?

We protect your information with appropriate security measures under Data Protection Laws and regulations that apply to prevent your personal data from being accidentally lost, used, altered, disclosed or accessed without authorisation. We confirm our security measures are subject to regular testing and updated as appropriate to the level of data that we hold.

We have procedures in place to deal with suspected personal data breaches and will notify you and any applicable regulator of a breach if we are legally required to do so.

7. How long do we keep your information for?

We will only retain your personal data for as long as is necessary in connection with the management and administration of your account, and in any event for the duration of the period during which any amount remains outstanding under your account. We may retain your personal data for a period following your account being repaid, but only where such retention is required in order to comply with legal, regulatory, tax, accounting or reporting requirements and/or to establish, exercise or defend legal claims.

When deciding how long we should retain personal data, we look at its amount, nature and sensitivity, the potential risk of harm from unauthorised use or disclosure, the processing purposes, whether these can be achieved by other means and legal requirements.

Once we no longer require the personal data for the purposes for which it was collected, we will securely destroy the personal data in accordance with applicable laws and regulations. In some circumstances we may anonymise your personal data for research or statistical purposes in which case it is no longer personal data and we may use this information indefinitely without further notice to you.

8. What are your rights regarding your information?

You have explicit rights concerning your personal data and we will ensure that your rights are protected while your data is in our possession. Subject to conditions and limitations foreseen by the Data Protection Laws, your rights include the following:

• Right of Access – you may request a copy of all the personal data we hold about you and we will respond within one month. If your request is particularly complex or you have made a number of requests, we may extend this period by a further two calendar months and we shall explain our reasons.
• Right to Erasure – You may wish to have certain data we hold deleted and we will comply with this right where, for example, it is no longer necessary for us to hold the data or if there is no lawful ground for processing.
• Right to Rectification – You have a right to request that any incorrect, inaccurate or incomplete data is updated, corrected and/or completed.
• Right to Restriction – You may wish to restrict us from using your data where, for example, you contest the accuracy of the data.
• Right to Object – You have a right to object to us using your data where processing is carried out for direct marketing or for our legitimate interest. We will no longer process your data unless we can demonstrate compelling legitimate grounds.
• Right to Data Portability – You have a right to request we share your data with another organisation and we will assist with that process where possible.

You will not have to pay a fee to access your personal data (or to access any of your other rights). However, in accordance with the Data Protection Laws, we may charge a reasonable fee if your request is clearly unfounded, repetitive or excessive.

Please note that we may ask you to provide us with additional documentation to verify your identity before we action your request. This is to ensure we are dealing with the correct individual and also for Anti-Money Laundering purposes. We will tell you when we ask for your information whether it is a statutory or contractual requirement to give us the information and the consequences of not providing the information.

Right to withdraw consent

Where we are relying on consent to process your personal data you have the right to withdraw your consent at any time. However, this will not affect the lawfulness of any processing carried out before you withdraw your consent. If you withdraw your consent, we may not be able to provide certain services to you. We will advise you if this is the case at the time you withdraw your consent.

9. Making a complaint

If you wish to make a complaint then you may do so in person, in writing and/or by email. Please contact us in the first instance using the details set out in section 1 above. All complaints are dealt with according to our complaints policy and will be fully logged and investigated.

Without prejudice to any other remedy available to you, you also have the right to lodge a complaint with the supervisory authority in the jurisdiction where the relevant controller is established or in the jurisdiction where you live or work.

10. General

We will not transfer your data to a country outside of the United Kingdom or the European Economic Area unless that country ensures an adequate level of data protection, appropriate safeguards are in place (such as standard contractual clauses adopted by the United Kingdom and/or European Commission) or relies on one of the derogations provided for under applicable law and regulation.

It is very important that the information we hold about you is accurate and up to date. Please let us know if at any time your personal data changes by contacting us via the details set out above.

This privacy statement may be updated by us at any time. When we make any material changes to this statement, we will communicate these to you appropriately.

 

APPENDIX

Purposes and legal bases

We may process your personal data for the following purposes and legal bases:

(i) Performance of a contract

Categories of personal data	Purpose
Customer data, financial data, client data, technical data.	The administration, management and recovery of receivables held by the relevant Group entity in respect of which you are the customer, arising from the assignment of rights under the credit relationship with you to the relevant Group entity (to the extent applicable).

(ii) Compliance with a legal obligation

Categories of personal data	Purpose
Customer data, financial data, client data, technical data	Compliance with regulatory and reporting obligations applicable to us.
Customer data, financial data, client data, technical data.	Compliance with any order of a court, governmental authority, supervisory authority or tax authority.
Customer data, financial data, client data, technical data.	Compliance with anti-money laundering, sanctions and financial crime obligations

(iii) Legitimate interests of the controller or of a third party

Categories of personal data	Purpose
Customer data, financial data, client data, technical data.	To hold and administer receivables acquired from third-party sellers as part of our business as a receivables holding vehicle.
Customer data, financial data, client data, technical data.	To oversee the management and recovery of amounts owed under those receivables, including by instructing legal proceedings and enforcing judgments.
Customer data, financial data, client data, technical data.	To maintain accurate books and records in relation to the receivables we hold.
Customer data, financial data, client data, technical data.	To generate reports, notably in connection with the performance of our portfolio.
Customer data, financial data, client data, technical data.	To protect our legal rights and interests, including screening for fraud prevention and anti-money laundering, and complying with sanctions and financial crime obligations
Customer data, financial data, client data, technical data.	For the establishment, pursuit or defence of complaints, investigations and legal claims, including providing proof, in the event of a dispute, of a transaction or any communication relating to your account.
Customer data, financial data, client data, technical data.	To meet our regulatory, legal and/or compliance requirements, including compliance with orders of a foreign court, government or regulatory authority.
Customer data, financial data, client data, technical data.	To carry out or facilitate due diligence by any third party that acquires, or is interested in acquiring, all or part of our assets or business, whether by sale, transfer, merger or otherwise.

(iv) Consent

Categories of personal data	Purpose
Special category data (including information relating to physical or mental health)	Where required, to process special category personal data on the basis of your explicit consent, including where you voluntarily provide health or other special category information in connection with our services or a complaint, enquiry or request.