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Old creditcard debt Question

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  • 27-11-2012 5:18pm
    #1
    keithkeith111
    Registered Users Posts: 12 ✭


    Hey there, To make a long story short, I have an outstanding debt of about 1000 Euros from a BOI mastercard from 06, I have been abroad since then only returning in the last few weeks. I do plan on paying it of but at the moment it's not possible.

    Questions

    1.will other banks allow me to open an account?

    2.Some one mentioned this debt might be written off.. Is this true?

    Thank you people


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    #2
    chris85
    Registered Users Posts: 4,502 ✭✭✭chris85


    keithkeith111 wrote: »
    Hey there, To make a long story short, I have an outstanding debt of about 1000 Euros from a BOI mastercard from 06, I have been abroad since then only returning in the last few weeks. I do plan on paying it of but at the moment it's not possible.

    Questions

    1.will other banks allow me to open an account?

    2.Some one mentioned this debt might be written off.. Is this true?

    Thank you people

    Your ICB record may have impact on your ability to open an account. Some will say its gone off the ICB as older than 5 years. However its 5 years from completion of the debt so could still be there in theory. Probably not. It probably will be on ICB for 5 years from write off.

    This brings us to write off. Its more than likely this has been written off due to the age of it. However this doesnt mean you dont own it. It just means the bank have marked the debt down as good chance of not getting it back. THis is often done when banks commence legal action or recovery of debt through collection agency.


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    #3
    keithkeith111
    Registered Users Posts: 12 ✭keithkeith111


    Thanks for the input Chirs.


    So basically I just have to hit and hope?

    Can I be refused a bank account because i have an outstanding debt wiht another bank?


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    #4
    chris85
    Registered Users Posts: 4,502 ✭✭✭chris85


    keithkeith111 wrote: »
    Thanks for the input Chirs.


    So basically I just have to hit and hope?

    Can I be refused a bank account because i have an outstanding debt wiht another bank?

    You can be refused a bank account for any reason the bank want really. Realistically they are doing ICB checks on new accounts and if there are bad history with debts you can most certainly be refused a new account with the bank.

    I suggest you get a copy of your ICB report from www.icb.ie. Costs about €6.


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    #5
    keithkeith111
    Registered Users Posts: 12 ✭keithkeith111


    So what happens to a person if the banks just refuse to open an account for them? How can one get a job or a place ot live, or even lodge a socail welfare cheque?

    Surely the goverment must have some provision for this?


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    #6
    chris85
    Registered Users Posts: 4,502 ✭✭✭chris85


    keithkeith111 wrote: »
    So what happens to a person if the banks just refuse to open an account for them? How can one get a job or a place ot live, or even lodge a socail welfare cheque?

    Surely the goverment must have some provision for this?

    A bank may consider this regular income from a job or SW and open an account for you to use. This would be most likely from the bank where you have the CC debt owing if you agree to make some payments off it. Its in the banks interest to get you an account so you can get paying off the CC.

    Any other bank would not see a lot good to taken you on as you would most likely be eligible for their credit products (loans, CC's, overdraft) and since banks dont really make much, or often a loss, on current account then not good to take you on as a customer.


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    #7
    sungem
    Registered Users Posts: 54 ✭✭sungem


    Banks do not carry out ICB checks on customers to open an account however if you request a credit facility an ICB check will then be carried out.


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    #8
    chris85
    Registered Users Posts: 4,502 ✭✭✭chris85


    sungem wrote: »
    Banks do not carry out ICB checks on customers to open an account however if you request a credit facility an ICB check will then be carried out.

    yes they do. They started doing it in the last few years. Most banks are anyways.


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    #9
    sungem
    Registered Users Posts: 54 ✭✭sungem


    I work in one of the 'pillar' banks :o and we don't carry out credit checks for new customers, however if a customer who had previously left an unpaid debt in the bank tried to open a new a/c, that info would still be there regardless of the length of time..


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    #10
    chris85
    Registered Users Posts: 4,502 ✭✭✭chris85


    sungem wrote: »
    I work in one of the 'pillar' banks :o and we don't carry out credit checks for new customers, however if a customer who had previously left an unpaid debt in the bank tried to open a new a/c, that info would still be there regardless of the length of time..

    Maybe your banks arent. fair enough.


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