Utility provider, the National Water Commission, NWC, has signed on to be a credit information provider to registered credit bureaus.
This means customers payment information will now be accessible to credit bureaus and taken into consideration when dealing in certain financial transactions.
Customers whose payment history is therefore poor may find it for example more difficult to secure a personal loan.
Communications Manager at the NWC, Andrew Canon, spoke to our news centre this afternoon.
The NWC is staring down the barrel of tough financial times.
Communications Manager at the NWC, Andrew Canon, says come December 1, the NWC will be passing on customers’ payment information to registered credit bureaus.
He’s therefore urging NWC customers who’ve not been making payments to do so quickly and in full.
This, as he says a negative credit rating can have adverse personal financial effects.
However, Mr Canon notes that the NWC is required to make its intentions of becoming a credit information provider known to the public.