ARM INSOLVENCY PRIVACY POLICY

The General Data Protection Regulation (GDPR) is effective from 25 May 2018. This document sets our policy regarding the data we will collect, process, share and other relevant information for you. The information we collect is only done so where we genuinely need it, or where we are required to collect it to perform our legal and/or contractual obligations.

What is the lawful basis for collecting and processing my data?

You have been referred to ARM Insolvency with a view to proposing an Individual Voluntary Arrangement (IVA), a statutory form of debt relief. An IVA is legislated under the Insolvency Act 1986 (as amended), Insolvency Rules 2016, Money Laundering Regulations 2017, Bribery Act 2014, and other relevant standards such as “Statements of Insolvency Practice”, “Dear IP” and the “IVA Protocol”.

Under the above legislation we therefore have a legal obligation to collect, process, and share your data. However, to ensure you are completely happy with your data being used, we will also ask you to consent to your data being used as per the document below before we formally act on your behalf.

What data will ARM Insolvency collect from me, and why?

ARM Insolvency will collect data from you to allow our Licensed Insolvency Practitioner, Dean Smith, and his team to perform his duties in proposing your Individual Voluntary Arrangement (IVA), and managing it if approved by your creditors.

To comply with relevant Insolvency legislation, guidance, and best practice, we will require evidence to assess, analyse, and demonstrate your financial position both before and during the IVA. This will include, but not limited to obtaining evidence of and keeping copies of:

  • Wage slips, contracts of employments, P60s, invoices, tax returns or equivalent.
  • Evidence of benefit award from award notices and government documents.
  • Bank statements.
  • Mortgage, secured loan, rental statement, proof of board payments.
  • Hire purchase or lease agreements.
  • Creditor statements.
  • Passport, Driving license or another photographic ID.
  • Other documents to support your financial position.
  • Land Registry searches.
  • Credit searches.
  • Verbal information from you i.e. number and ages of children, your living situation.
  • Details of any assets you have i.e. life insurance, shares, savings, life insurance, PPI or other potentially miss-sold products.
  • Email, Whatapp and other instant messaging communications.
  • Recordings of telephone conversations between us and you. This is not only to collate data to process your IVA, but for training, monitoring and quality purposes.

 

 

 

 

How we use your data

Until we contact your creditors regarding your IVA we are acting as your advisor in a reasonable contemplation of an insolvency appointment. During this process your data will be assessed and analysed to determine whether an IVA is the best debt solution for you. This will involve us conducting a formal call with you to run through your finances and available options.

Should this be an IVA, we will then use all the data you have provided to formulate IVA paperwork to send to your creditors. This is done in the capacity of Nominee. Over a short period we will negotiate with your creditors to seek the successful approval of your IVA.

Once approved your IVA will be run in accordance with the terms of the paperwork and we will complete this as your Supervisor. We will require updated data throughout the duration of the IVA and you will be asked for this at various points. This will then be shared with other bodies as appropriate. We will also share your data with government bodies, and carefully selected business parties who will investigate miss-sold financial products. Once your IVA is closed we will share a final report with creditors

Who will ARM Insolvency share my data with?

In the process of proposing and managing your IVA we will share some, or all your data with the following bodies. However, please note that it is extremely rare that any physical evidence you have provided is shared with 3rdparties, rather extracts from our case management software is shared in the form of legal documents that are part of your IVA, or through data extracts.

We will share your data with:

Organisation Reason
The Insolvency Service Register your IVA as a requirement of insolvency legislation
Kingsbridge Insurance Brokers Insolvency legislation requires that we hold an insurance bond to protect your IVA
HM Land Registry Complete a property search and register an RX1 in the event you own a property
Creditors, and their appointed representatives Send your IVA proposal to creditors to obtain their acceptance, and to provide ongoing statutory reports and data as required by legislation to ensure the smooth running of your case.
ARM Cover Limited Investigate money saving products to assist you and your finances
My Insolvency Report Secure online platform to share information with creditors (and yourself) for your IVA.
The Debt Specialists Ltd, Financial Claims Assist Ltd Investigate any potential miss-sold financial products for the benefit of your creditors
Cubic Evolution Ltd and Puritie Ltd These organisations provide our case management software which stores your information
Connex; San IT These organisations host our telephone and IT systems to contact you and store your data.
Institute of Chartered Accounts in England and Wales (ICAEW) Our regulator for insolvency services.

 

This list is not exhaustive and from time to time we may be required to share your data with other bodies i.e. if you sell your property we will need to contact any conveyancing solicitor, however, we will obtain your specific consent in these eventualities.

We will only share your data with organisations outside the European Economic Area (EEA) where we have your express consent. However, we do not envisage that this scenario would arise.

Security

We treat the security of your data with upmost importance. Your data is stored via electronic scans or on our case management software. This data is securely stored on both internal and external servers with the relevant level of security to ensure your data is protected. We employ 3rdparty contractors who manage our IT security on our behalf and only do so to the highest standard.

When will ARM destroy my data?

Insolvency legislation requires that we keep your records for 6 years post your IVA closing. However, if your IVA is not approved then we will destroy your data as below:

Circumstance Destruction Policy
You discuss your financial affairs with us, but we do not contact creditors on your behalf Your file will be destroyed after 6 months from the date we close your file.
We contact your creditors, but your IVA is not accepted Your file will be destroyed 6 years after your IVA is rejected, or you tell us you no longer wish to proceed
Your IVA is accepted by your creditors Your file will be destroyed 6 years after your IVA is closed

 

Your rights regarding your data

GDPR sets outs what rights you have regarding your data. These are outlined below:

The Right to be Informed

This document sets out the relevant privacy information regarding your data.

The Right of Access

You have the right to access the personal data we hold. Should you wish you can request access to your data free of charge, however, we may charge a fee if your request is manifestly unfounded, excessive, or particularly repetitive. We have one month to provide you with access to your data, which would usually be a PDF file of the data we hold.

Should you wish to access your data please write to David Griffiths, Senior Insolvency Manager, ARM Insolvency, Blenheim Court, Carrs Road, Cheadle, Stockport, SK8 2JY

The Right to Rectification

You have the right for inaccurate data to be rectified or completed if you feel it is incomplete. You can tell us this verbally, or in writing at the address above. We have one month to work with you to correct the data.

Due to insolvency legislation the burden also falls on you to ensure full and accurate disclosure of your finances and that there is no material irregularity in the documentation.

The Right to Erasure

You have the “right to be forgotten”, and should you wish this to take place you can either tell us verbally or in writing. We will have one month to comply with your request.

ARM Insolvency has set out its position regarding the destruction of data as above. Due to Insolvency regulation if we are appointed as either your Nominee and Supervisor you no longer have the right to erasure as we have a duty to keep records for 6 years post your IVA closing. However, if we are not appointed to any of those roles, you can let us know you wish to have your data erased, however, we will destroy it within 6 months.

The Right to Restrict Processing

Under this right, you have the ability to request that we still hold your data, but not use it if any of the following apply:

  • You contest the accuracy of our data and we are working with you to verify it
  • You are challenging the lawfulness of how we use your data and you would like to restrict us using it rather than erase it
  • We no longer need the data, but we require it to establish, exercise or defend a legal claim
  • You object to us processing your data under Article 21(1), however, we are considering overriding this objection.

If any of these circumstances apply we will still hold your data, however we will not process it, share it until we have your consent to remove the restriction, or have legitimate grounds to override your restriction.

The Right to Data Portability

You have the right for your data to be transferred from one data controller to another. We are required to complete this within one month unless the data is complex. This is usually used in banking transactions.

The Right to Object

As an individual you have the right to object to your data:

  • Being processed for legitimate interests or performing a task in the public interest
  • Being used in direct marketing
  • Being used for scientific or historic research and statistics

ARM insolvency only processes your data to perform our legal obligations and with your express consent, and we never use it for any of the above scenarios.

Rights relating to automated decision making including profiling

ARM do not use data in this way.

Other rights

You have the right to withdraw consent at any time. However, if we have been formally appointed as either Nominee or Supervisor we have a legal obligation to retain your data for regulatory purposes.

 

 

Contact Us

If you have any queries regarding this policy, please contact us at

Data Protection Officer

ARM Insolvency

Blenheim Court

Carrs Road

Cheadle

Stockport

SK8 2JY

Email: Supervisory@arminsolvency.co.uk

 

If you are not happy with how we have processed your data in the first instance you should contact us. If you’re not happy with how we have dealt with your complaint you have the right to complain to the Information Commissioners Officer. Details are at https://ico.org.uk/