Privacy and Cookie Policy

Privacy Notice

Who are Prac Financial?

PRAC Financial is a specialist debt purchaser regulated by the Financial Conduct Authority (690730). PRAC Financial has bought your debt from the original lender (creditor). This means that PRAC Financial is a data controller and now responsible for deciding the purpose and means of processing your personal data. PRAC Financial may be contacted by:

Post: PRAC Financial, F10 Longfields Court, Wharncliffe Business Park, Barnsley, South Yorkshire, England, S71 3GN
Phone: 0333 023 0124
Email: Info@Prac.co.uk
You can find more information about PRAC Financial on its website
http://www.pracfinancial.co.uk/

PRAC Financial takes data protection seriously and is committed to highest standards of data protection. This Privacy Notice provides important information about processing personal data. It is kept under review and updated from time to time. PRAC Financial processes personal data in accordance with data protection principles:

  • Lawfulness, fairness and transparency;
  • Data minimisation;
  • Accuracy;
  • Storage limitation;
  • Integrity and confidentiality; and
  • Accountability

Please contact us using the details above should you have any questions about the Privacy Notice.

Who are BW Legal?

BW Legal is a law firm appointed by PRAC Financial to collect debt. BW Legal acts as a data processor and may be contacted by:

Post: BW Legal, Enterprise House, Apex View, Leeds, England, LS11 9BH
Phone: 0113 487 0430
Email: enquiries@bwlegal.co.uk
You can find out more about BW Legal on its website
http://www.bwlegal.co.uk

Purpose of Processing

PRAC Financial processes personal data for legitimate purposes including:

    • Debt collection
      • This includes, for example, contact by letter, telephone, mobile phone, SMS and email and managing payments
    • Exercising or having the right to exercise the lender’s rights and duties in relation to high-cost short-term credit
      • This may include taking legal action and enforcement activity
    • Exercising/having right to exercise lender’s rights and duties under a regulated credit agreement (excluding high-cost short-term credit, bill of sale agreement, and home collected credit agreement)
      • This may include taking legal action and enforcement activity
    • Debt Administration
      • This may include updating credit files, calculating interest and charges and managing payments

PRAC Financial may also process personal data for the following legitimate purposes:

    • To comply with legal and regulatory obligations;
    • To run the business in an efficient and effective manner;
    • To manage conduct risk and ensure customers are treated fairly in accordance with the FCA Consumer Outcomes;
    • To comply with data protection fundamental rights and freedoms including the right of access;
    • To comply with the requirements of the Consumer Credit Act 1974;
    • To Detect, investigate, report and otherwise seek to prevent fraud, money laundering, financing terrorism and other financial crime;
    • To investigate, resolve and respond to complaints;
    • For outsourcing to third party service providers such as printing, postage, debt collection, and litigation;
    • For producing and analysing statistical information;
    • To complete affordability assessments;
    • Profiling;
    • To undertake trace activity;
    • For call monitoring; or
  • If all or part of the business is transferred to new ownership

Legal Basis for Processing

PRAC Financial processes data on the following lawful reasons:

    • Processing is necessary for the performance of a contract including:
      • Consumer credit contracts (including, for example, personal loans, credit cards and overdrafts);
      • Telecommunications (including, for example, mobile phone);
      • Utilities (gas, electric and water); and
      • Parking
    • Processing is necessary for compliance with a legal obligation
      • This may include, for example, financial sanctions
    • Processing is necessary for the purposes of legitimate interests which include:
      • Reasonable Expectation e.g. steps are taken to recover outstanding debts
      • The existence of a relevant and appropriate relationship e.g. between a creditor and a debtor
      • Necessary for the prevention of financial crime including fraud and money laundering
      • Network and information security e.g. payments are made using an online system (customer portal)
      • Business interest e.g. monitoring payment arrangements, complaints data and other management information
      • Ensuring data accuracy e.g. validating current address
      • Service improvement e.g. average waiting time for calls to be answered
  • Freely given Consent
    • This may include information about physical and mental health

Categories of Personal Data

PRAC Financial uses different types of personal data which may be grouped together as:

  • Identification and Contact Details

This information is used to identify individuals and includes:

• Title;
• Forename;
• Middle names;
• Surname;
• Date of Birth;
• Current Address and post-code;
• Previous Address and Post-code;
• Current, previous and inaccurate Mobile phone numbers;
• Current, previous and inaccurate Landline phone numbers;
• Current, previous and inaccurate work phone numbers;
• Email addresses.

This information is usually provided by clients in the first instance. It is subsequently validated directly by you.

Data may be verified using credit reference agencies. We may use TransUnion and Equifax for this purpose. Further information and a copy of their Privacy Notice is also available on their website

https://www.transunion.co.uk/legal-information/bureau-privacy-notice

https://www.equifax.co.uk/About-us/Privacy_policy.html

Data may be obtained from third parties such as debt management companies or insolvency practitioners.

If a person has been given consent to act as an authorised third party (this will usually be a friend or family member), PRAC Financial will also process this category of data in relation to the authorised person.

  • MPAN/MPRN/Meter Readings

A Meter Point Administration number (MPAN) is a unique number for the electricity meter in your property. It’s sometimes called a Supply Number.

A Meter Point Reference Number (MPRN) is a unique number for your gas meter.

Meter readings are originally obtained by the supplier and may include estimates readings.

PRAC Financial may be provided with this information by original creditors in relation to recovery of utility bill arrears.

  • Financial

This includes information about:

• your outstanding balance;
• income and expenditure;
• Information in relation to transactions including payments made, any charges (such as late payment charges), interest and/or fees (such as court fees).

Some of this information is provided directly by you and some is provided by clients.

Income and expenditure information provided by you allows PRAC Financial to better understand your financial circumstances and consider the outcomes available ensuring you are treated fairly. You may also provide your bank details when setting a Direct Debit or making a secure card payment. A record of payments is kept and ensures details about an outstanding balance remain accurate and up to date.

Clients may provide information such as the original balance, the current balance, any payments they may have received directly or a statement of account.

  • Socio-demographic

As a consequence of processing your Identification and contact details as well as your financial data, PRAC Financial has an understanding of your socio-demographic data. This may include, for examples, your age, your employment status, your income, your marital status and the size of your family.

As set out above, some of this information is obtained from original creditors, some of it is obtained directly from you and some of it is from third parties such as credit reference agencies or debt management companies. This information helps ensure you are treated fairly. Your income and expenditure information may mean that your account is placed on hold for a period to provide breathing space to seek independent money advice, for example.

  • Contractual

PRAC Financial may be provided with access to evidence of any contractual relationship between you and a creditor.

Original creditors may provide copies of consumer credit agreements or evidence of a parking contravention or outstanding utility bills, for example

  • Documentary Data

This may be information contained in a Debt and Mental Health Evidence Form (DMHEF), a letter from a doctor, a copy of a prescription or any other documents such as a marriage certificate that may be provided to PRAC Financial.

Documentary data is usually provided directly by you or an authorised third party. It helps PRAC Financial understand your circumstances and ensure you are treated fairly. In some cases, this may mean your account is closed by PRAC Finacnial.

  • Public

PRAC Financial may make reference to public records such as the Register of Judgments, Orders and Fines, Companies House, the Individual Insolvency Register and others.

Public records are a useful source of information. It allows PRAC Financial to validate information such as bankruptcy restrictions.

  • Special Categories of data

Usually this will be information about your health (mental and/or physical).

Some information is considered special by the law. This includes health information. PRAC Financial uses health information provided by you or an authorised third party to better understand your circumstances and ensure you are treated fairly.

PRAC Financial may rely on the exemption under paragraph 19 of Schedule 1 to the Data Protection Act 2018 (Safeguarding of economic well-being of certain individuals).

  • Consent

This is where you have provided consent. In most cases this will be your explicit consent to process special categories of data. This may also include details of any withdrawal of consent. This may also include your consent to disclose information to a third party such as a family member or a debt management company.

Any other legal basis for processing your data are set out in this Privacy Notice.

  • Communications

Records are kept of communications between you and PRAC Financial and its service providers, including BW Legal. This may take the form of a recorded phone call or a letter/email for example.

These records are useful when investigating complaints or working with regulators.

  • County Court Judgements (CCJ) and enforcement activity

PRAC Financial obtains information about court judgements. This includes information such as:

• Reference Numbers;
• Name of the court;
• Who owes the balance;
• How much is owed.

PRAC Financial also takes enforcement action which may include:

• Charging Orders;
• Attachment of Earnings;
• Administration Order;
• Warrant of Control.

  • Statutory Notices

Examples of statutory notices include:

• Default Notices; or
• Statutory Demands.

  • Trace

PRAC Financial may undertake trace activities through a search using credit reference agencies/trace agencies which may leave a “soft” search result not visible to lenders.

This may include data such as your:

• Name;
• Last known address;
• Current address;
• Date of Birth.

A trace report concludes that an individual is either:

• Living as stated;
• New Address; or
• Negative.

The outcome includes a confidence rating based on the number of independent sources which have confirmed the outcome.

  • Insolvency Related

PRAC Financial may receive and process information about the following:

• Individual Voluntary Arrangements (IVA);
• Debt Relief Orders (DRO);
• Bankruptcy;
• Sequestration;
• Debt Arrangement Scheme (DAS); or
• Trust Deed.

The information may be received from you directly or from your representative such as an insolvency practitioner or debt management company.

  • Login Credentials

Customers may register to use the online resource provided by our service provider BW Legal for managing their account.

  • Card Payments

Card payments are handled by our service provider BW Legal. Card payments are processed securely on behalf of BW Legal by SagePay.

Sources of Data

PRAC Financial obtains personal data from sources including:

  • Original Creditors

PRAC Financial initially receives data from its original creditors. The data may include details such as:

• Name
• Address
• Phone Number
• Email Address
• Outstanding Balance
• Original Balance
• Reference numbers
• Payment details

  • Authorised third Parties

A person, often a family member or a friend, you have authorised may provide information to PRAC Finacnial on your behalf.

  • Original Creditor/Lender

PRAC Financial may, for example, receive copies of a credit agreement or notices such as a default notice from the original creditor/lender.

  • Credit Reference Agencies

Personal data may be validated using credit reference agencies/trace agencies. Trace reports may also be received from credit reference agencies.

We may use TransUnion for this purpose. Further information and a copy of their Privacy Notice is also available on their website https://www.transunion.co.uk/legal-information/bureau-privacy-notice

  • Publically Available Databases

This may include the Electoral Roll, or the Register of Judgements, Orders and Fines, or Companies House for example.

  • HM Courts & Tribunal Service/Scottish Courts & Tribunals Service

PRAC Financial may receive information such as any County Court Judgments or Decrees obtained against you.

  • Medical Practitioners

PRAC Financial may receive information about your health and wellbeing. This may be in the form of a Debt and Mental Health Evidence Form (DMHEF) or a letter.

  • Service Providers

This may include legal service providers that may appear in court on behalf of PRAC Financial.

  • Law Enforcement

PRAC Financial may receive and act on instructions from the Police or other law enforcement.

  • HM Prison Service

PRAC Financial may receive information about your imprisonment.

  • Debt Management Companies

Where you have authorised a debt management company such as PayPlan or others, PRAC Financial may receive information such as details about your financial circumstances including any other creditors or your income and expenditure.

  • Insolvency Practitioners/Money Advisors/Accountant in Bankruptcy

PRAC Financial may receive details when you pursue an insolvency debt solution such as bankruptcy or an individual voluntary arrangement.

  • Banks/Payment Service Provider

PRAC Financial receives payments made by you and processed by service providers including BW Legal.

  • Data Subject

PRAC Financial receives information directly from you

Sharing Data

PRAC Financial may share your data with:

  • Original Creditors

In some instances information may be shared with the original creditor in accordance with any contractual agreements and obligations.

  • Authorised third parties

In this case, data is shared based on your consent (which may also be withdrawn as any time). This may be a friend or a relative and the type of data shared may include details of the client, the original lender, the outstanding balance or any payments made, for example.

  • Credit Reference Agencies

PRAC Financial may use credit reference agencies to complete a trace or validate and verify data held by BW Legal. BW Legal may also update your credit file on behalf of some clients where instructed to do so.

We may use TransUnion for this purpose. Further information and a copy of their Privacy Notice is also available on their website https://www.transunion.co.uk/legal-information/bureau-privacy-notice

  • Debt Management Companies/ Debt Advice/Debt Counselling Agencies

Again, data is shared based on your consent (which may be withdrawn at any time). PRAC Financial may share information such as copy agreements, copy statements, details of the original lender and any outstanding balance with agencies, such as Step Change Debt Charity, you have authorised.

  • Insolvency Practitioners/Official Receiver/Accountant in Bankruptcy

PRAC Financial may share details of the debt in relation to any insolvency proceedings. This may, for example, be necessary in order to allow you to make an Individual Voluntary Arrangement (IVA) proposal, for example.

  • Service Providers

PRAC Financial uses third party service providers such as postal service and legal service providers (e.g. BW Legal). You data may be shared in order to allow the service to be provided to PRAC Financial. Appropriate safeguards are in place with any service provider in order to ensure data security.

  • HM Courts & Tribunal Service/Scottish Courts & Tribunals Service

Our service provider BW Legal are specialists in legal recoveries and may share your data with the courts in order to raise legal proceedings to recover outstanding sums on behalf of PRAC Financial.

  • Court Officers including Bailiffs and Sheriff Officers

PRAC Financial may seek to enforce any court order obtained and share your data with enforcement officers to do so.

  • Regulators

PRAC Financial is regulated by the Financial Conduct Authority (FCA), and the Information Commissioner’s Office (ICO).

PRAC Financial has an open and cooperative relationship with its regulators and may share your details where required to do so.

  • Financial Ombudsman Services (FOS)

The Financial Ombudsman Services has jurisdiction in relation to some, not all, complaints against PRAC Financial. Your data may be shared with the FOS where it has the relevant jurisdiction.

  • Law Enforcement Agencies

PRAC Financial may share your data with the Police (if concerned about your welfare, for example), or with other law enforcement such as the National Crime Agency (NCA).

  • Trade Associations

Our service provider BW Legal is a member of a trade associations such as the Credit Services Associations (CSA). BW Legal may share your data with them as evidence of compliance with their Codes of Practice of where they are investigating a complaint against BW Legal for example.

  • Your employer

This may be where PRAC Financial is seeking or has obtained an Attachment of Earnings in order to enforce a court order.

  • Your Bank

Where you have set a direct debit and subsequently make a claim under the direct Debit Guarantee, your details may be shared with the bank in response to your claim.

  • Financial Auditors

Financial Auditors perform a regulatory and statutory function and may have access to your data when performing their duties.

  • Others, where you have provided permission to do so

Where you have provided consent, PRAC Financial may share your data with others. In such cases, you will be asked for your permission and you may withhold or withdraw your permission.

Data Transfer

Personal Data is not transferred outside of the European Union (EU) without appropriate safeguards. If, however, data is to be transferred outside of the EU, PRAC Financial ensures that the recipient is agrees to provide the same or similar protection as PRAC Financial and only processes your personal data in accordance with any instructions provided by PRAC Financial.

Automated Decision Making

PRAC Financial does not make decisions solely based on automated processing (including profiling) which produce legal effects or have a significant affect.

Data Storage

Customer data is retained for no longer than necessary. As such, data is retained for as long as an account remains open.
Upon account closure, data is retained for six years. This is because our service provider BW Legal is regulated by the Solicitors Regulation Authority (SRA) and has a regulatory obligation to retain records for at least this period. In addition to this regulatory obligation, PRAC Financial considers it necessary to retain records for a period of six years in order to adequately investigate and respond to any matters which may arise regarding credit reporting. The six year period is considered an industry practice and has due regard to the statutory limitation period as well as the time limit for raising a complaint with the Financial Ombudsman Service.
Data is deleted through appropriate technical safeguards when no longer required.

Your Rights

Information about your data protection rights is available in the Information Commissioner’s website https://ico.org.uk/
Please use the contact details set out above under “Who are PRAC Financial” if you would like to exercise your data protection rights.
If you have a complaint regarding data protection matters, you have a right to make a complaint to the Information Commissioner’s Office. However, PRAC Financial would like an opportunity to respond to your complaint before you raise it with the Information Commissioner’s Office.

COOKIES

      • A cookie is a small file, typically of letters and numbers, downloaded onto a device when the user accesses certain websites. Different types of cookies are used for different purposes and you can learn more about cookies at http://www.allaboutcookies.org/.
    • You can be confident that this website does not make use of any cookies.

Last reviewed August 2020