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Bad credit history - how long?

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  • 04-11-2009 10:18pm
    #1
    LegacyUser
    Registered Users Posts: 166,026 ✭✭✭✭


    Hi

    I have a question - I'm posting here as I want it to be anonymous

    So, took out a loan 5 years ago - my first ever loan. The loan was for €5,000. I was 20.

    With a credit union.

    For 1 year my payments were regular and on time.

    After that year I hit a bad patch in life and paid only 2 payments during a period of 3 years.

    During this time there were legal letters sent to my house and a CU representative even called to see me.

    During the summer of 2008 I cleared the loan and also paid assosiated legal expenses which ammounted to over €1,000

    I know this was not good, but my question is this: How long does this bad judgement made by the CU affect me? How long does it stay with me?

    I'm not looking to know if I can get another loan, I'm wondering what my chances are of ever getting a mortgage for example, as I have been told I can't!!!!


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    #2
    Laducar
    Closed Accounts Posts: 61 ✭✭Laducar


    I'm almost certain that the credit unions have only recently started reporting to the Irish credit bureau , in which case your fine. You can get a copy of your credit file to check


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    #3
    jhegarty
    Registered Users Posts: 6,440 ✭✭✭jhegarty


    It's 5 years from when the loan is paid off.

    But most credit untions are not in the icb.

    Check if it's on the list here :
    http://www.icb.ie/membership.php


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    #4
    VB1962
    Closed Accounts Posts: 32 ✭VB1962


    Did they obtain a court judgement against you?


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