Credit Repair Summit to Bring Dignity to Consumer Debt – Jamaica Information Service
Jamaicans can access a wealth of information on credit repair at the Caribbean Credit Repair Association (CCRA) Virtual Credit Restoration Summit.
The two-day summit will be held on Thursday July 22 and Friday July 23 from 10:00 a.m. to 2:00 p.m. and will be broadcast on the Financially Focused Facebook page and YouTube channel. The theme of the event is âBringing Dignity to Consumer Debtâ.
Talk with JIS News, CCRA President Dennise Williams said her organization considers it important to host the event due to the pressure from the pandemic on the livelihoods of people who have lost their jobs or have saw their income decrease. This has resulted in an increase in consumer debt.
âIndividual consumer debt in Jamaica is not sufficiently discussed and we seek to show people how they can receive support from the public and private sectors. We will examine three major players in the field of consumer debt; we’ll take a look at what the government is supporting in terms of programs that people who need help getting into debt can access, what banks are able to offer, and how you can improve your skills to get out of debt She said.
Also speak with JIS News, Assistant Insolvency Supervisor at the Office of the Insolvency Supervisor (OSI) Fayola Evans-Roberts, said the OSI endorsed the event because educating the public on credit restoration is beneficial for citizens, especially in these difficult times.
âWe were invited to be part of this summit because of the emphasis on credit. OSI deals with insolvent people, people unable to pay their debts, so credit restoration is very important at the end of an insolvency case. The head of the organization, CCRA, is one of our advisers. The new insolvency law states that before people are released they must receive financial advice, so she is invited to be part of this business, âshe said.
Speakers at the event will include the Minister of Industry, Investment and Trade, the Hon. Audley Shaw; First Global Bank, President and CEO, Mariame McIntosh Robinson; Jamaica Stock Exchange, Managing Director, Marlene Street Forrest, and Caribbean Commonwealth University, Group Executive Chairman, Dr Winston Adams.
Topics to be discussed during the two-day summit include the credit reporting industry, credit recovery, insolvency, OSI, and legal stakeholders in the debt and sub-sector. loans from financial institutions.
CCRA is a newly formed institution that offers debt counseling and other services, and also has a professional certificate program in credit restoration.