Creditinfo offering free advanced reports this week

The local company sets aside one week every year in which its public awareness campaign is intensified in keeping with its mandate to encourage responsible borrowing. According to the company, the need for persons to check their credit information can never be over-emphasised. It said with improved knowledge of what is on the credit report, how it is used by lenders such as banks and hire purchase companies, the key elements of a good credit score etc., the greater is the likelihood of obtaining credit and at better interest rates.

Credit reports can be requested at the local Creditinfo Office located at 267B New Market Street, Georgetown or via the Creditinfo Guyana website at http://www.creditinfo.gy. For persons who would have already accessed their free credit report in 2019, this is an opportunity to obtain an advanced credit report for free. Persons are also allowed the opportunity to file a dispute to correct any irregularities or inaccurate information that may be contained in their report. This process can be done at Creditinfo’s office or online.

Creditinfo expects that via its ongoing public engagement initiatives, it will be able to enhance and contribute to Guyana’s thrust towards financial inclusion by improving consumer and SME financial literacy; reducing over-indebtedness; encouraging responsible borrowing; helping SMEs and individuals build up a credit profile based on their “reputational collateral”; helping lenders expand markets to unserved SMEs and individuals; and in general contribute to responsible lending.

The impact of a good, robust credit bureau has been demonstrated throughout Creditinfo affiliates globally with the primary indicators being increased percentage of the population getting credit as well as a general reduction in default rates. Overall, this positive impact has resulted in significant improvements in countries’ ranking on the World Bank Doing Business Index, particularly in the area of getting credit. Creditinfo Guyana was granted its licence to operate on July 15, 2013 and became the second regional presence in the Caribbean. The company is a subsidiary of Creditinfo Group which was founded in 1997 with headquarters in Reykjavik, Iceland.

Source: Guyana Chronicle