In considering your application we will carry out a search on your record at credit reference agencies. They will add to your record details of our credit search and your application, and this will be seen by other organisations that make searches at some time in the future. This is normal practice within the financial community, in order to build a more accurate picture of financial events of a paricular organisation or individual.
We will also add to your record with the credit reference agencies details of your agreement with us and any default or failure to keep to its terms. It is important to note that any such defaults on payment may stay on record for a significant period of time and may affect your abilities to secure further funding in the future.
These records will be shared with other organisations and used by us and them to:-
- Help make decisions about credit and credit related services such as insurance for you and members of your household.
- Trace debtors, recover debt, prevent money laundering and fraud, and to manage your accounts.
For these purposes we or they may make further searches. Although these searches will be added to your record, they will not be shared with others.
We and the credit reference agencies may also use the records for statistical analysis about credit. We may also use information about you to carry out market research.
Please telephone us if you want details of those credit reference agencies from whom we obtain and to whom we pass information about you. You have a legal right to these details.
You have a right to receive a copy of the information we hold about you if you apply to us in writing. A fee will be payable.
Entering into financial agreements:
Entering into an agreement is a financial and legal commitment that should be seriously consider and thought through prior to commitment and signing of such agreements. Please ensure you have planned well budgets in order to be able to maintain payments over the period, which may be between three and five years.
Defaulting on such payments can result in significant difficulties for your business in the future and may, as worse case, result in being taken to court to recover such payments via asset realisations or through Director guarantees, individual payments from such Directors.
Though tax offset benefits of such financial arrangements may be realised in entering into such agreements, Leasing I.T. does not guarantee this and you should seek professional financial advice prior to such commitments.
Should you feel unsure about whether such financial agreements are suitable for your business, please seek independant financial advice, as we would not want to provide a solution that is unsuitable to your particular business financial profile.
Should you wish to discuss this with us, we will be happy to advise, however, we stress that you should really seek independant advice on such matters.
Though we try to keep our web site accurate and up to date, please note that errors and omissions apply and we cannot be held accountable or liable, should information be inaccurate or out of date with current financial trends, affairs, tax rules or rates at any one point in time.
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