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ICB Report. Help required to understand if its good or bad

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  • 15-06-2011 1:39pm
    #1
    Monkey face
    Registered Users Posts: 47 ✭


    I just got my ICB Report and I am a little bit lost to say the least. I was given a GFS score of 562 and an ICB CRIF score of 423. As I understand neither of these are particularly amazing but will I definitely be denied credit with these scores?

    The other thing I was surprised to find is there was only 1 loan from a 2004 finance deal from a finance company (Creation Consumer Finance) that I never heard of on the report. I have previously defaulted on a loan from Ulster Bank when I was younger but that is nowhere to be seen?? Is this common practice with these reports and have I dodged a bullet? Can I get the loan that I have never heard of taken off?

    Also, on the loan on the report it says it was settled on Oct 31st 2010 and there is 0 balance due but will not be removed from the report until 2015!!! WTF

    Can anyone please help as I am utterly confused!


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    #2
    dbagman
    Banned (with Prison Access) Posts: 1,216 ✭✭✭dbagman


    yeah any defaulted loans or bad credit stay as a black mark on your report for 5 years,the loan you say you defaulted on when you were young must of been more then 5 years ago and so disappears.I dont think you can have a loan written off,its up to the company or debt collector.I have one on mine written off(amount only €460) but this stays on my report for 5 years.I also missed payments on a car loan but cleared this last year but will stay on my account till 2015 :( and dont feel too bad....my icb crif 2 is 399!!and for some reason dropped to 388 after ulster bank checked my credit rating when i applied for an account earlier this year(which was refused)ah well,another reason to emmigrate :(:(


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    #3
    Monkey face
    Registered Users Posts: 47 ✭Monkey face


    I just called them there and they said if I can get the company to e mail them to retract reporting me then they will remove it immediatly.

    They also echoed what you said about removing things after 5 years. So that is cool.

    Basically all I have on it now is a finance loan I didn't take out and nothing else. If I get rid of that will I have a perfect credit score? Or will I be refused on the basis of having no information to prove that I can repay the loans???

    Damn banks!


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    #4
    coylemj
    Registered Users Posts: 25,437 ✭✭✭✭coylemj


    Monkey face wrote: »
    I was given a GFS score of 562 and an ICB CRIF score of 423.

    Could someone translate these numbers into plain English please, what do they mean? For example, is a high number good or bad, that sort of stuff would be useful and what would a squeaky clean individual expect to get?


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