Handling Personal Information
At Magical Credit Inc., we collect personal information primarily from you, for instance through applications and supporting documentation you provide. We may also collect personal information about you through your ongoing interactions with us, whether it be from references, employers or other financial institutions you have identified in your application as well as credit bureaus and other third party sources. For example, we may collect personal information from credit bureaus for the purpose of locating you to collect outstanding debts. In connection with loan agreements, we may also collect personal information from credit bureaus in order to verify your current and ongoing creditworthiness and other information you may provide to us.
We may collect and use personal information for various purposes such as, but not limited to: managing business activities, verifying identity and other personal information, evaluate requirements and eligibility, advertising and promotion, establishing business relationships, collecting outstanding debts, and maintain records.
All personal information is safely and securely stored within our servers with proper layers of security ensuring its safety. Information is accessed by Magical Credit Inc. and is not passed on or disclosed to any third parties unless specifically outlined in the “Disclosing Information” section below. All personal information received is given with the full consent of the individual when an application is received, either electronically or verbally.
Magical Credit Inc. holds the right to disclose personal information without the individual’s consent or knowledge only:
- To a lawyer or legal representative of Magical Credit Inc.
- To collect a debt the individual owes to the organization
- To comply with a subpoena, a warrant or an order made by a court or other body with appropriate jurisdiction
- To a government institution that had requested the information, identified its lawful authority to obtain the information, and indicates that disclosure is for the purpose of enforcing, carrying out an investigation, or gathering intelligence relating to any federal, provincial or foreign law; or suspects that the information relates to national security, the defence of Canada or the conduct of international affairs; or is for the purpose of administering any federal or provincial law
- To a government institution or an individual’s next of kin or authorized representative when there are reasonable grounds to believe that the individual has been, is or may be the victim of financial abuse
- Where it is produced by individuals in the course of their employment, business or profession- as long as the disclosure is consistent with the purpose for which the information was produced
- If required by law
Magical Credit Inc. does not in any way collect personal information indiscriminately nor does Magical Credit Inc. deceive or mislead individuals about the reasons for collecting personal information.
Limit Use, Disclosure and Retention
Magical Credit Inc. only uses or discloses personal information for the purpose for which it was collected, unless the individual consents, or the use or disclosure is authorized by the Act (PIPEDA). All personal information is retained for as long as necessary to satisfy purposes.
Magical Credit Inc. investigates any informed complaints and takes appropriate measures to correct information handling practices and policies.
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If you would like to make any changes to your file, please send your request to:
MAGICAL CREDIT INC. 402-970 Lawrence Ave West, Toronto, ON M6A 3B6
All contents of the Site are: Copyright 2018 by Magical Credit Inc. Any rights not expressly granted herein are reserved.