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Direct Debits & Credit Rating

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  • 28-07-2008 4:29pm
    #1
    garrincha62
    Registered Users Posts: 377 ✭✭


    Does anyone know;

    If you cancel a direct debit, does this affect your credit rating with Irish Credit Bureau?


Comments

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    #2
    MysticalSoul
    Registered Users Posts: 1,266 ✭✭✭MysticalSoul


    I don't think so, but if you are breaking the terms of a contract it could do. It is important to inform the company as well as the bank, that this is what you are doing.


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    #3
    jor el
    Closed Accounts Posts: 16,713 ✭✭✭✭jor el


    Depends on the recipient of the debit. If you're sending money to a financial institute (bank, credit card agent, etc) then yes, non payment will effect your credit rating. If you pay the bill manually and on time though, it will have no effect. Normal businesses cannot effect your rating, though some like to say they can (debt collectors for instance) in order to scare you into paying.


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    #4
    board om
    Closed Accounts Posts: 643 ✭✭✭board om


    jor el wrote: »
    Normal businesses cannot effect your rating, though some like to say they can (debt collectors for instance) in order to scare you into paying.

    they can actually effect your credit rating. if you do not pay and they bring you to court and win, then it will effect your credit rating. and they can have you listed in the stubbs gazette for having a judgement against you for nonpayment of services. companies get copies of the stubbs gazette sent to them so they know who not do busines with.


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