The Credit Information Corporation (CIC) is holding a series for webinars starting Friday to educate consumers on their rights as borrowers amid the COVID-19 pandemic.
The country’s public credit registry and repository of credit information is raising awareness on the rights of borrowers and consumers via the CIC Academy to be held from February 18 and 28.
CIC President and CEO Ben Joshua Baltazar said that the program will educate the public on the benefits of a credit information system to the economy.
“In line with our mandate, the CIC Academy is our flagship program to raise awareness on the rights of borrowers and consumers, including ready and immediate access to their credit information through the CIC Credit Report, Baltazar said.
The sessions will include “Credit Report and Credit Score: Assessing Creditworthiness amid a Pandemic” to discuss the importance of financial tools in improving one’s creditworthiness and access to credit amid the COVID-19 pandemic.
Launched in August last year, the CIC Academy has successfully reached over 6,000 attendees who had the chance to participate in discussions on various topics such as responsible borrowing, combating abusive lending practices, detecting credit card fraud, building good credit history, and obtaining business loans, among others.
The CIC Academy’s first webinar series for 2022 will feature resource speakers from the CIC and from CIBI Information Inc., one of its accredited credit bureaus issuing consumer credit reports and credit scores.
“We will demonstrate how the CIC Credit Report serves as reputational collateral that reflects your creditworthiness. Together, we will also break the stigma of credit being synonymous with financial hardship, mismanagement, and vulnerability, which should not be the case as it is essential for daily life and a tool for financial upliftment,” Baltazar added.
With around 30.7 million borrowers and over a hundred million loan contracts in the CIC database, the CIC Credit Report provides a balanced view of an individual’s credit history as it captures both positive and negative credit data from a wide array of lenders.
