As a financial services company, Borrowell follows certain legal and regulatory requirements about how we collect, store and retain your information. This involves retaining your information for a certain amount of time to meet these requirements in accordance with our retention policy.
Our retention policy sets out our protocols and specifies retention periods which are based on our legitimate purposes for retaining such information. For example, records of Borrowell credit inquiries are retained in the event that they may later be contested as fraudulent and evidence is required. We are also required to retain information as a result of anti-money laundering laws as well as contractual obligations.
Below are the retention periods that apply to account information for each product/service that Borrowell offers:
|Borrowell Product/Service||Retention Period|
|Free Credit Score||3 years from the time of deletion request|
|Credit Builder||7 years from the time Credit Builder is canceled or paid off|
|Rent Advantage||3 years from the time Rent Advantage is canceled|
During the retention period, you will not receive any further credit file updates, emails or communication from us. After the retention period lapses, your account information will be permanently deleted.
For more information or if you have any questions related to our retention practices, please contact the Borrowell Privacy Officer at email@example.com.