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Credit score

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  • 28-08-2014 9:56pm
    #1
    kbell
    Registered Users Posts: 1,249 ✭✭✭


    Not sure if this is the right forum for this.
    I've Been refused a bank loan and car finance due to my credit score.
    Im 11 years into a mortgage with every payment on time.
    I've had credit union loans over the years, all paid off on time and no late payments.
    I'm a regular saver in the credit union too.
    Earlier this year I had 3 late payments on my credit card, just me being forgetful.
    My wife had to go into hospital in June, as a precaution as we didn't know her prognosis at the time we knocked the mortgage to interest only for 3 months.
    May,June and July.
    These factors it seems have screwed my 100% credit score.
    How long will this continue to affect me and is there anything that can be done to get my score back up?


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    #2
    Spocker
    Moderators Posts: 6,860 ✭✭✭Spocker


    The first thing you should do is get a copy of your own report, you can apply online at http://www.icb.ie

    It's possible it was your late payments on the credit card, but bear in mind that banks use more than credit scoring to evaluate a long, it's not just based on that 1 number


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    #3
    [Deleted User]
    Posts: 0 ✭ [Deleted User]


    You can ask your bank to give you a copy of the ICB report. They don't have to, but there is no law against giving it to you. Then ask them to explain the numbers on it. Each loan or borrowing will have 24 indicators, showing if you were up to date or not in each of the past 24 months, and the extent of any arrears also.
    If your rating is damaged, it will take 24 months to have a clean sheet again.
    Alternatively you could talk to your mortgage company and ask them if its possible to clean the records as you did make an arrangement with them for the three months (I assume you did!) to pay interest.
    You would be advised to sign a direct debit form with your credit card company so that they take the minimum payment each month. This will at least prevent a repeat situation where you look like you are behind in payments, and keep your clean slate on ICB
    Hope that helps you


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