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Bad credit rating

demanufactured · 2006-01-18 20:32:25

Just wondering how long a persons credit rating follows them around....someone told me ten years and i heard 5 years somewhere else...does anyone know for sure?

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18-01-2006 9:32pm

#1

demanufactured

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Just wondering how long a persons credit rating follows them around....someone told me ten years and i heard 5 years somewhere else...does anyone know for sure?

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#2 18-01-2006 11:37pm
BuffyBot

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http://www.boards.ie/vbulletin/forumdisplay.php?f=106 - do a search. The topic has been discussed a few times.

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#3 19-01-2006 12:04am
Gordon

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Moved, cheers buffy.

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#4 19-01-2006 12:37am
Seany

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It depends on the circumstances... it can effect your chances of loan approval for up to 5yrs.

An idea would be to have a an Irish Credit Bureau (ICB) Credit Check carried out on yourself to check and see how bad your rating is (i think it costs less than a tenner).

You will find more info on the ICB and how to go about this here

Best of luck,
Sean

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#5 19-01-2006 10:32am
Nuttzz

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5 years from the date the loan was paid off or settled

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#6 19-01-2006 2:47pm
Bill Andrex

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demanufactured wrote:

Just wondering how long a persons credit rating follows them around....someone told me ten years and i heard 5 years somewhere else...does anyone know for sure?

There is lots of helpful info on http://www.oasis.gov.ie/ I suggest you start there.

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#7 03-04-2006 10:48am
HashSlinging

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What if you get married does your credit rating effect your partner, for better or for worse etc..

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#8 03-04-2006 5:48pm
shoegirl

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demanufactured wrote:

Just wondering how long a persons credit rating follows them around....someone told me ten years and i heard 5 years somewhere else...does anyone know for sure?

How long the information is retained for depends if the loan was paid off or not and how long the loan was and how many payments occured after the arrears.

If it was paid in full then it remains on the credit record for up to 5 years. However as far as I know only the last 24 payments are retained so if there were arrears prior to the last 24 payements and these were cleared before the last 24 then it might not appear after 3 years (if you think about it).

If it was cleared but not paid in full with the agreement of the lender then it will remain on the credit record and it will be seen that an amount was written off (or not as the case may be). It will remain in whatever state it is in until it is either paid off or written off and then the 5 years clock starts ticking. As this can take months or years to reach "frozen" status theiretically it will remain for 5 years plus the time it took to reach cleared or "frozen/written off" status.

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