The Path to a Better Future

The mobile application “Sosocredit” and the associated websites, including schaefer.lv, sosocredit.lv, sosocredit.lt, and sosocredit.ro, are owned and/or operated by SIA SCHAEFER, a company registered in the Republic of Latvia under registration number LV50103412751, legal address: Lielā 2B, Saldus, LV-3801, Latvia (“Sosocredit”, “we”, “us”, or “our”).

SIA SCHAEFER operates as a credit intermediary under Credit Intermediary Licence No. KS-25. SIA SCHAEFER provides or facilitates credit-related intermediary services in the European Union only where such services are permitted under applicable local and EU regulatory requirements and, where required, through appropriately licensed, registered, authorized, or contractually approved cooperation partners.

This Privacy Policy explains how we collect, use, disclose, store, and protect personal data when you use the Sosocredit mobile application, our websites, or related services.

Sosocredit provides credit comparison and credit intermediary services. We are not a lender and we do not make the final decision on whether credit will be granted. Any credit decision is made by the relevant lender or cooperation partner according to its own eligibility, creditworthiness, regulatory, and risk assessment criteria.

This Privacy Policy applies globally to the Sosocredit mobile application. More detailed country-specific information may be provided in the local privacy policies available on the relevant local websites.

1. Who We Are

The data controller is:

SIA SCHAEFER

Registration number: LV50103412751

Legal address: Lielā 2B, Saldus, LV-3801, Latvia

Email: [email protected]

For country-specific privacy questions, you may also contact us through the relevant local contact email shown on the applicable local website.

2. Availability of Services

The availability of the Sosocredit mobile application, website, or general information in a particular country does not mean that all services, credit products, lenders, or offers are available in that country. Available products, partners, eligibility criteria, and application processes may differ by country.

We do not guarantee that any user will receive a credit offer, that an application will be approved, or that any particular loan amount, interest rate, repayment term, fee, repayment schedule, or other condition will be available. Any credit decision is made by the relevant lender or cooperation partner according to its own criteria and applicable legal requirements.

3. Our Role as a Credit Intermediary

Sosocredit acts as a credit intermediary or broker.

Our services may include:

collecting and forwarding your credit request to selected lenders or cooperation partners;
helping you compare credit or loan offers;
presenting offers from lenders or financial partners;
supporting communication related to your credit request;
helping you access partner services where such services are available.

We do not issue loans ourselves. We do not guarantee the approval of any credit application. Each lender or cooperation partner applies its own eligibility, affordability, creditworthiness, risk, and legal requirements.

We may receive remuneration, commission, referral fees, or other compensation from cooperation partners or lenders when you use their services, submit an application, receive an offer, or enter into an agreement with them. This does not mean that any specific offer is guaranteed or that all available lenders in the market are included in our service.

4. Data We Collect

Depending on the country, product, application type, and applicable legal requirements, we may collect and process the following categories of data.

4.1 Identification Data

name and surname;
date of birth;
personal identification number or equivalent national identifier, where required;
gender, nationality, or citizenship, where required;
information on whether you are a politically exposed person, where relevant.

4.2 Contact Data

phone number;
email address;
residential address or contact address.

4.3 Financial and Credit-Related Data

income information;
employment, occupation, or professional information;
education level, where relevant;
existing financial obligations;
credit history or repayment discipline information;
bank account details, including IBAN where required;
bank account statements or account information;
information about dependants, marital status, or household circumstances where required for credit assessment;
other data necessary for credit comparison, credit intermediation, identity verification, fraud prevention, or legal compliance.

4.4 Application and Service Data

information submitted in credit or loan request forms;
selected product type;
preferred loan amount, repayment period, or other application parameters;
status of your application;
partner or lender selected by you or matched to your request;
communication with us or our customer support.

4.5 Technical, Diagnostic, and App Usage Data

When you use the mobile application or website, we may collect:

user ID or account ID;
device ID, app instance ID, or similar technical identifiers;
IP address;
device model, operating system, browser, language, and app version;
crash logs, diagnostics, performance data, and error reports;
product interaction data, such as navigation patterns and feature usage;
user preferences and app settings;
cookies or similar technologies on our websites.

5. How We Collect Data

We may collect data:

directly from you when you register, submit a request, complete a form, contact us, or use the application;
automatically through the application, website, cookies, analytics tools, crash reporting tools, or similar technologies;
from selected cooperation partners, where necessary to provide the service or process your request;
from public registers, credit information sources, open banking providers, identity verification providers, or other lawful data sources, where this is required by law or necessary for credit assessment and is performed by us or our partners according to applicable local rules.

6. Why We Use Your Data

We process personal data for the following purposes.

6.1 Providing the Service

We use your data to:

create and manage your account;
receive and process your credit request;
forward your request to selected lenders or cooperation partners;
help assess whether your request matches partner criteria;
present available credit or financial offers;
communicate with you about your request;
provide customer support.

6.2 Identity Verification and Legal Compliance

We may process data to:

verify your identity;
comply with financial, consumer credit, anti-fraud, accounting, tax, and other legal obligations;
respond to lawful requests from public authorities, courts, regulators, or supervisory bodies.

6.3 Credit Intermediation and Partner Matching

We may use the information you provide to determine which cooperation partners may be relevant to your request. Some applications may not be forwarded to all partners if they do not match the partner’s stated parameters, product scope, or eligibility criteria.

This matching or filtering does not constitute a final automated decision by Sosocredit to grant or refuse credit. The final decision is made by the relevant lender or cooperation partner.

6.4 App Functionality, Security, and Improvement

We may use technical and diagnostic data to:

maintain the application and website;
detect errors and crashes;
improve stability, security, usability, and performance;
prevent misuse, fraud, unauthorized access, or security incidents;
understand how users interact with the application.

6.5 Marketing and Offers

Where required by law, and based on your consent, we may send you marketing messages, promotional offers, partner offers, or information about similar services.

You may withdraw your consent at any time.

7. Legal Bases for Processing

Depending on the purpose and applicable jurisdiction, we process personal data based on one or more of the following legal bases:

performance of a contract or steps taken at your request before entering into a contract;
your consent;
compliance with a legal obligation;
our legitimate interests or the legitimate interests of third parties, such as service improvement, fraud prevention, security, business administration, and legal claim management;
other legal bases permitted under applicable data protection law.

Where processing is based on consent, you may withdraw your consent at any time. Withdrawal does not affect the lawfulness of processing carried out before the withdrawal.

8. Sharing of Personal Data

We do not sell your personal data.

We may share your personal data with the following recipients.

8.1 Lenders and Cooperation Partners

We may share your application data with selected lenders or financial partners for the purpose of credit assessment, eligibility evaluation, offer preparation, and service provision.

The specific partners may differ by country, product, application type, and time. Country-specific partner lists are available in the relevant local privacy policies.

Partners may act as independent data controllers and process your data according to their own privacy policies.

8.2 Service Providers

We may use service providers for:

hosting and cloud infrastructure;
IT maintenance and security;
SMS, email, and communication services;
analytics and diagnostics;
customer support tools;
accounting, audit, legal, and compliance services;
payment, open banking, identity verification, or similar technical services, where applicable.

8.3 Public Authorities and Legal Recipients

We may disclose personal data to courts, regulators, supervisory authorities, law enforcement bodies, tax authorities, or other competent public institutions where required by law or necessary to protect our rights, users, systems, or legal interests.

9. Open Banking and Bank Account Information

In some cases, lenders or cooperation partners may require bank account information or bank statements to assess affordability and creditworthiness.

Such information may be:

provided manually by you;
obtained through an open banking or account information service provider selected by you;
forwarded to the relevant cooperation partner or lender for assessment.

Sosocredit does not make the final automated decision to grant credit based on this information. The credit decision is made by the relevant lender or cooperation partner.

10. Profiling and Automated Processing

We may use automated or semi-automated filtering to match your request with relevant cooperation partners. This may include checking whether your application falls within parameters provided by partners, such as product type, requested amount, location, age range, income range, or other eligibility criteria.

As a result, some applications may not be forwarded to all partners.

Sosocredit does not make the final decision on credit approval. The relevant lender or cooperation partner decides whether to issue credit, request additional information, reject an application, or present an offer.

11. International and Cross-Border Data Transfers

Your personal data may be processed or accessed in countries other than the country where you reside or where you use the Sosocredit application.

Where personal data is transferred within the European Union or European Economic Area, such transfer is carried out in accordance with applicable EU data protection law.

Where personal data is transferred outside the European Union or European Economic Area, we apply appropriate safeguards required by applicable data protection law, such as adequacy decisions, standard contractual clauses, contractual safeguards, or other legally recognized transfer mechanisms.

You may contact us for more information about applicable safeguards.

12. Data Retention

We retain personal data only for as long as necessary for the purposes for which it was collected, including service provision, legal compliance, dispute resolution, fraud prevention, accounting, and protection of legal interests.

Retention periods may differ depending on the country, data category, service type, and legal obligations.

In general:

application and service data are retained for as long as necessary to process your request and comply with legal obligations;
data related to potential claims or disputes may be retained for the applicable limitation period;
technical and diagnostic data are retained only as long as necessary for security, performance, analytics, and troubleshooting;
marketing data are processed until consent is withdrawn or the data is no longer required for marketing purposes.

When data is no longer required, it will be securely deleted, anonymized, or otherwise handled according to applicable law.

13. Data Security

We implement appropriate technical and organizational measures to protect personal data against unauthorized access, disclosure, alteration, loss, destruction, or misuse.

These measures may include:

encryption of data in transit using SSL/TLS;
access control and role-based permissions;
logging and monitoring of system activity;
regular system maintenance and security updates;
backup and recovery procedures;
contractual controls for service providers;
internal confidentiality and security procedures.

No method of electronic transmission or storage is completely secure. However, we continuously improve our security measures according to the nature of the data and the risks involved.

14. Children’s Privacy

The Sosocredit application and services are intended only for adults aged 18 or older.

We do not knowingly collect personal data from individuals under 18. If we become aware that such data has been collected, we will delete it unless we are legally required to retain it.

15. Your Rights

Depending on your jurisdiction and applicable law, you may have the right to:

access your personal data;
request correction of inaccurate or incomplete data;
request deletion of your data;
restrict processing;
object to processing;
withdraw consent;
request data portability;
object to direct marketing;
request information about automated processing or profiling;
file a complaint with a competent data protection supervisory authority.

To exercise your rights, please contact us using the contact details below. We may ask you to verify your identity before responding to your request.

16. Consequences of Not Providing Data

Some personal data is necessary to provide the service, process your credit request, comply with legal requirements, or forward your request to cooperation partners.

If you do not provide required data, we may be unable to:

create or maintain your account;
process your application;
forward your request to cooperation partners;
present credit offers;
provide customer support;
comply with legal obligations.

17. External Links and Partner Services

The application or website may contain links to third-party websites, partner websites, lender platforms, app stores, payment providers, open banking providers, or other services.

Their privacy practices may differ from ours. We are not responsible for the privacy policies, content, or data processing practices of third-party services acting independently.

18. Country-Specific Privacy Information

This Privacy Policy applies to the Sosocredit mobile application globally.

More detailed country-specific information, including local partner lists, contact details, legal requirements, and additional disclosures, may be available in the privacy policies published on the relevant local websites:

Country-specific privacy policies and service information may apply depending on your country of residence, the country where you use the service, or the local website through which you submit a request.

If there is a difference between this global application Privacy Policy and a country-specific policy, the country-specific policy applies to the extent required by local law or the specific local service.

Latvia: https://www.sosocredit.lv/lv/privatuma-politika
Romania: https://www.sosocredit.ro/ro/politica-de-confidentialitate
Lithuania: https://www.sosocredit.lt/lt/privatumo-politika

19. Updates to This Privacy Policy

We may update this Privacy Policy from time to time to reflect changes in our services, application functionality, cooperation partners, legal requirements, or data processing practices.

The latest version will be published in the application and/or on our website. Unless stated otherwise, updates take effect when published.

20. Contact Us

If you have questions about this Privacy Policy or how your personal data is processed, please contact us: