| By Kiana WilburgWith the recent launching of Guyana’s first credit bureau, CreditInfo (Guyana) Inc, Guyanese will now have the chance to better charter their credit history and benefit significantly from acquiring high credit scores.The credit bureau is responsible for several things. One of which is creating a credit report for borrowers.This report is a detailed account of the consumer’s credit history. Apart from personal information, it will also include information about their financial obligations as well as their payment history.Judy Semple-Joseph,Cheap Jerseys Free Shipping, CEO,Wholesale Authentic Jerseys, CreditInfo (Guyana) IncIn addition to this, each consumer is entitled to one free credit report annually.But more importantly, Judy Semple-Joseph, Chief Executive Officer of the financial institution explained that a credit score would not be a part of that report.Semple told this publication that while the credit score is a number that is used to indicate the creditworthiness of the consumer to the lender and will therefore, enable him/her to assess the rate at which the person’s debt will be repaid, it is a product that will be sold separately, but at a minimal fee.“Consumers must understand that the credit report is a document that shows the credit history and the credit score is a separate product which represents,Cheap Jerseys, a number given, based on the analysis of the credit history.”In addition to this, she said that no information would be shared with any company, including credit information providers,Wholesale Jerseys China, and written permission of the consumer would have to be given before such can be done.Semple said that the names of all the companies that have inquired about someone’s credit history would be provided in the credit report of the consumer.“We want borrowers to understand that the information provided to our bureau is of paramount importance. Our chief storage, located in Jamaica, is the most secure data facility in the Caribbean. It is capable of withstanding Category 5 hurricanes and other natural disasters.”“Secondary facilities are also secured to a level capable of passing the rigorous international security standards of the CreditInfo group as well as the Bank of Guyana, which oversees the credit bureaus and regulates the industry.”Moreover, Semple drew attention to one of the other services that is a part of their credit bureau system, “CreditInfo Quest (CIQ)” which is now in full effect.This feature, she said, serves to identify fraud by the consumer or third party or reports of fraud by the consumer.“For example; if someone lost or had their passport stolen, naturally, they would have reported this to the immigration office or the Police. It is expected that they would,Wholesale NFL Jerseys, as well,Cheap Jerseys From China, report the matter to the bureau.”“When the report would have been made to our agency, we would then attach a fraud alert to the person’s account. In this way, if someone tries to use a false identity to access credit, the lender would be notified by the CreditInfo Quest of any wrongdoing and the appropriate action would be taken. The details of such a circumstance would then be recorded under a section of the bureau referred to as the Number of CIQ Fraud Alerts, and recorded on the request of the person who has been defrauded.”The CEO said that, “For consumers, one way to easily identify fraud, is if you pull your credit report and you notice that two or three different institutions have made inquiries on your credit profile within a 48-hour period, in which you know you have not tried to access credit anywhere, that in itself is an indication of fraud.”She added that inquiries of any nature with regard to one’s credit report can also be done as the bureau is willing to arrange personal appointments at a date and time convenient to both parties.This, she said, is also in an effort to better educate clients about the objectives of the bureau and how it works. |
