‘Credit Information Bureau’ will exchange data with ‘Intrum’

JSC “Kredītinformācijas birojs” (KIB) has concluded a cooperation agreement on data exchange with the credit management company “Intrum”, the companies inform.

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Thus, the KIB database currently contains data on outstanding financial liabilities of all natural and legal persons of Latvia’s largest debt collection companies. Consequently, the KIB data system currently shows a total amount of debts (overdue invoices and contracts) of EUR 1.47 billion for individuals and EUR 561 million for legal entities.

“With the addition of Intrum data, we have achieved the integration of the data of the largest debt collection companies in Latvia into one system. This significantly facilitates the work of financial institutions and service providers,” emphasizes Intars Miķelsons, Chairman of the Board of KIB.

“A healthy and stable economy is based on mutual trust that companies will pay for their goods and services, while individuals or legal entities will pay for them on time. A credit market in which people and businesses can easily provide and receive credit is a key precondition. In this context, the KIB database serves as a regulatory tool in the general public interest to provide companies providing credit or goods and services on installment with objective information on the solvency of potential customers, while individuals refrain from entering into new commitments before deleting the previous one. ” explains Ilva Valeika, General Manager of Intrum in the Baltics.

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