Looking for a personal loan

quietone

Hi, Im hoping to go in to the bank today and apply for a personal loan. When they check my credit history do you know if it shows up where i have other loans at the moment.
For example if i apply for a loan but do not tell them i have a credit union loan can they tell when they do a credit check that i have a loan with the credit union or not.

BuffyBot

It will depend - some Credit Unions are part of the Irish Credit Bureau, many are not. Banks will check your ICB report when you apply for a loan, so if your CU is a member, it will show up.

You can see a list of ICB members here http://www.icb.ie/membership.php

quietone

Thanks Buffybot, i just checked and my credit union are not listed in the directory of the ICB so should be ok for my personal loan application as i dont have a loan anywhere else.

Random

if you pay off your credit union loan by direct debit they'll see this in your bank account or whatever bank statement you provide .. assuming this is how you pay.

quietone

Just to update, i went in to bank yesterday and as you said i do pay credit union from my bank account and they wanted 12 months statements from credit union before i could apply for the loan. I should,ve known it wouldnt be as easy as that!!!

JDxtra

And some people blame the lenders for getting into debt problems! Be honest, if you have other debts tell them.

28064212

Correct me if I'm wrong (I could be, I've never gotten a mainstream bank loan), but isn't there a section on the application which you sign stating you've disclosed all relevant financial information (or words to that effect)? Aren't there repercussions to lying on a loan application