QCredit Corp. has achieved a significant milestone by successfully registering as a Submitting Entity with the Credit Information Corporation (CIC), in accordance with the Credit Information System Act (Republic Act No. 9510) and its Implementing Rules and Regulations (IRR). This registration positions QCredit as a crucial contributor to the credit information ecosystem, reinforcing the accuracy and accessibility of credit data.
As a Submitting Entity, QCredit will soon commence the submission of basic credit data, bolstering the country’s credit infrastructure. Additionally, the institution has registered for the Online Dispute Resolution Process (ODRP) facilitated by the CIC. This aligns with the regulatory framework’s commitment to providing an efficient mechanism for data subjects to rectify any inaccuracies in their credit information arising from erroneous, incomplete, or outdated submissions by covered institutions.
QCredit Corp.’s participation in the ODRP underscores its dedication to transparency and accuracy in credit reporting, complying not only with legal requirements but also fostering a responsible financial ecosystem. This proactive step by QCredit sets a positive precedent, highlighting the industry’s collective efforts to fortify credit reporting in the Philippines.
