Collecting Personal Information
Prefera limits the personal information collected to what we need:
- We collect only the information we need for the identified purposes about servicing your obligation to us based on the information you have provided to us directly or through the vendor or merchant through which you have arranged financing.
- Records are kept for the purpose of providing and servicing products and services that we believe are right for you.
- We do not sell, license, trade or rent personal information to 3rd parties for the purposes of soliciting you for non-Prefera products or services.
Prefera collects the following types of information:
- Your contact information (name, address, phone number, email address);
- Financial and credit information (banking information, credit card number, credit score, payment history);
Prefera needs to collect your personal information to:
- Determine your eligibility and creditworthiness;
- Extend, maintain or renew credit;
- Continue to offer you the full range of products and services that we believe meet your changing needs and to service such products and services;
- Meet regulatory or contractual requirements relating to the products and services provided to you and comply with applicable laws;
- Collect and service your account; and
- Understand your needs.
We will make sure you understand why we need the information by using clear, understandable language when we communicate with you and for what purpose the information is used.
Disclosing Personal Information
Prefera discloses personal information to third parties in the following circumstances:
- We share personal information with credit bureaus and credit reporting agencies to provide information to them about your credit obligation with us.
- We may share personal information with third parties engaged to assist us in providing services to you or to carry out one or more of the purposes described above, including for example, our funding partners.
- We may disclose personal information to a third-party if a law, regulation, search warrant, subpoena or court order legally requires or authorizes us to do so, including for example, in the event of payment default to collect on our debts and to realize our security interests.
- In the event of a proposed or actual purchase, sale (including a liquidation, realization, foreclosure or repossession), lease, merger, amalgamation or any other type of acquisition, disposal, transfer, conveyance or financing of all or any portion of Prefera or of any of the business or assets or shares of Prefera or a division thereof, we may share personal information in order for you to continue to receive the same products and services from the third party.
Otherwise, we do not disclose your personal information without your consent.
- Except as authorized by law, Prefera only collects, uses or discloses your personal information with your permission. Your consent may be expressed in writing or be implied and you may give it to us verbally, electronically, or through your authorized representative.
- You may withdraw your permission to collect, use and disclose your personal information at any time, subject to legal and contractual restrictions required in respect of fulfilling your obligation under any agreement with us and under the circumstances noted above and by allowing reasonable notice period.
- We will not, as a condition of the supply of a product or service, require you to consent to the collection, use or disclosure of information beyond that required to fulfill the explicitly specified and legitimate purposes for which the information is being provided.
Retaining and Storing Information
- We will keep your personal information as long as it is necessary to fulfill the purposes for which it was collected or as required by law, and your consent to such purposes remains valid after termination of our relationship with you
Security of Your Information
Prefera is responsible for all personal information in our
possession at our places of business or stored electronically,
including information transferred to a third party service provider
or business partner in connection with servicing your account.
All employees, business partners and authorized service providers
of Prefera are required to protect the confidentiality of your
personal information and are prohibited from using your personal
information for any purpose other than to provide the Prefera
services to you.
Access to your personal information is restricted to those of
Prefera's employees, service providers and business partners who
need it to do their jobs and all such individuals are required
to protect personal information collected by them on behalf of
Prefera or disclosed to them by Prefera and to comply with the
Prefera has developed and are continuing to enhance security
procedures to safeguard and protect personal information against
loss, theft, unauthorized disclosure, copying, access, use or
Prefera will maintain appropriate safeguards and security
procedures that reflect the types of documents, including electronic
or paper records, and sensitivity of the information, organizational
measures including security clearances and limiting access on a
"need-to-know" basis, and technological measures such as the use
of passwords and encryption.
When we destroy personal information, we will use safeguards to
prevent unauthorized parties from gaining access to the information
during the process.
Questions and Complaints
- You may register a privacy-related complaint by contacting Prefera's privacy officer as described below.
- We will explain Prefera's complaint procedure to you and investigate all complaints.
- If a complaint is justified, we will take all appropriate steps to set the situation right, including changing our policies and practices if necessary.
- We will also let you know what other complaint procedures may be available to you.
Changes to this Policy
For More Information