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ICB

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  • 14-10-2014 7:18pm
    #1
    Flynner101
    Registered Users Posts: 21 ✭


    Has anyone ever had there bad credit history takin off the icb...? I've heard if you pay off wats owed it can be wiped off..? Any info is much appreciated...!!


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


    Have you had a look at the Frequently Asked Questions on their website? Bad credit history isn't automatically removed, no.


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    #3
    Flynner101
    Registered Users Posts: 21 ✭Flynner101


    I have seen there website but the citizens info webpage says it can be taking off if loan is repaid, it must be up to the bank. Was just wondering if any1 out there has gone through this...?


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    #4
    dobsdave
    Closed Accounts Posts: 1,814 ✭✭✭dobsdave


    Flynner101 wrote: »
    I have seen there website but the citizens info webpage says it can be taking off if loan is repaid, it must be up to the bank. Was just wondering if any1 out there has gone through this...?

    yes it gets taken off 5 years afterwards


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    #5
    Flynner101
    Registered Users Posts: 21 ✭Flynner101


    I understand that watever happens it gets takin off after 5 years, was just wondering if for any reason other then wrong info can it be takin off cause on the citazins info page says if paid can be takin off icb...


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    #6
    D3PO
    Registered Users Posts: 7,879 ✭✭✭D3PO


    its there to show how good or bad a credit risk you are. paying off a loan you defaulted on still means your a bad credit risk so why do you think it could be removed.


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    #7
    Flynner101
    Registered Users Posts: 21 ✭Flynner101


    It clearly stated on the citizens info page that it can be takin off... !!!


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    #8
    D3PO
    Registered Users Posts: 7,879 ✭✭✭D3PO


    well it cant unless its an error. Its been answered a few times including on their own website. Citizens info isnt always right


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    #9
    phormium
    Registered Users Posts: 3,340 ✭✭✭phormium


    Where does it say that on the Cit Info site, can you quote the piece?


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    #10
    TrishSimon
    Closed Accounts Posts: 206 ✭✭TrishSimon


    Flynner101 wrote: »
    Has anyone ever had there bad credit history takin off the icb...? I've heard if you pay off wats owed it can be wiped off..? Any info is much appreciated...!!

    The ICB report lasts for 5 years so all details of any loan or credit cards etc that you have will be on there dating 5 years backwards however banks now only take into consideration the last 24 months of the report so going two years back, if you have missed a payment on something it appears as a ( 1 ) etc and even if you pay it off it will stay there for 2 years after which such time you can contact your lender and request they update the records on the ICB to show it was paid and the account is up to date so lets say you missed a payment March 2013 in March 2015 you can contact the lender and request its taken off once you have paid it.

    Banks don't like having to change the ICB reports but by law after 24 months it can be done so be insistent and don't give into them as they will try to fob you off.

    Hope that helps.


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