Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie

Bad debt

Options
  • 05-04-2013 4:28am
    #1
    derossi
    Closed Accounts Posts: 231 ✭✭


    Have some bad debt with a financial provider that for various reasons I could not pay off. Over the last three years I have been going through different payment plans up to the point of not being able to pay anything. I am happily now in the position to pay of the debts in full over the course of the next year, year and a half.

    A few questions, the two loans are, one personal and one a car loan. The total is around 5k. I believe that one of the loans, possibly both have been moved, purchased by another company. Said company did inform me that they did purchase but did not specify how much or which loan and no further contact has been received after the letter. This was about 6 months ago. If I was to clear the loans in full with no write offs but with a messed up repayment schedule, what is recorded on my ICB for future searches?

    Oh this company that purchased, I believe it was a former employee/s of PTSB who set it up.

    My main aim is to get things right and plan for the future.


Comments

  • Options
    #2
    killers1
    Registered Users Posts: 1,443 ✭✭✭killers1


    derossi wrote: »
    Have some bad debt with a financial provider that for various reasons I could not pay off. Over the last three years I have been going through different payment plans up to the point of not being able to pay anything. I am happily now in the position to pay of the debts in full over the course of the next year, year and a half.

    A few questions, the two loans are, one personal and one a car loan. The total is around 5k. I believe that one of the loans, possibly both have been moved, purchased by another company. Said company did inform me that they did purchase but did not specify how much or which loan and no further contact has been received after the letter. This was about 6 months ago. If I was to clear the loans in full with no write offs but with a messed up repayment schedule, what is recorded on my ICB for future searches?

    Oh this company that purchased, I believe it was a former employee/s of PTSB who set it up.

    My main aim is to get things right and plan for the future.

    All the missed repayments will show up on your credit report and you'll struggle to find a bank willing to offer you any credit until your credit check is clear & repaired 5 yrs later.


  • Options
    #3
    derossi
    Closed Accounts Posts: 231 ✭✭derossi


    Cheers for that. So if for example I started paying today i would have 5 years from now until I can get some credit again? Also if you know. On my icb I presume ptsb would have a w on my report as they wrote/sold the debt. Will that maybe stay longer?


  • Options
    #4
    wmpdd3
    Registered Users Posts: 9,624 ✭✭✭wmpdd3


    I dont know for sure but I would think the debt is noted as written off at the end of 2012 in the ICB and that's it.

    Those debt collection agencies dont seem to come under the remit of the ICB.

    So in theory from 2018, there would be no record of the debt on the icb report.

    You can get a copy of your report here:

    http://www.icb.ie/cr_options.php


Advertisement