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Credit Information Database will include Latvenergo debtors

The Credit Information Bureau has signed a contract for cooperation Latvenergo for information exchange. This means Latvenergo will supply the bureau with information regarding unpaid bills of private and legal persons to help expand debtor databases.

«All honest businesses will benefit from data exchange. Most businesses evaluate their partners using publicly available information, but not all information is available in a single place. Latvenergo’s joining of Credit Information Bureau’s system is the same as adding State Revenue Service’s data to our database, because Latvenergo supplies electricity to 98% of households and the majority of Latvian businesses. This means data of businesses that have unpaid bills will be added to the database and will be accessible to all Latvian and international companies,» says Credit Information Bureau’s commercial director Intars Miķelsons.

Latvenergo electricity billion manager Einārs Kantāns comments: «We highly value every client’s serious attitude towards their financial commitments. Credit Information Bureau’s database serves as a kind of financial health index, because it contains detailed information regarding private persons’ and companies’ debts. By adding data from electricity clients we want to increase payment discipline and raise the general level of economic responsibility, as well as motivate other service providers share information.»

Credit Information Bureau notes that it has signed contracts on information exchange with Latvia’s largest commercial banks and their subsidiaries that offer leasing services. Contracts have also been signed with the largest utilities providers not just in Riga, but also in regions.


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