ICB change?

Soarer

Morning all.

This is a bit vague.
A few months back there was someone on Matt Cooper talking about debt and the ICB. I seem to remember him saying something about the ICB changing their something, and if you get your bad loan paid off before the end of the year, it'll only be recorded for 6 months as opposed to X years.

Can anyone shed some light on that, or did I dream thr whole thing?

Spocker

You're referring to the creation of the Central Credit Register, which will be operated under licence by the Central Bank. Some digging has not shed any light on whether or not the current database in the (privately-owned) ICB will be migrated over, and thats probably what you're referring to.

If your record is clean/clear with the ICB, then the new CCR (which started gathering info from September) will likely have no 'bad' info on you

http://www.citizensinformation.ie/en/money_and_tax/personal_finance/debt/credit_ratings.html
https://www.stubbsgazette.ie/news/lenders-gear-up-for-ccr-launch
http://www.centralbank.ie/consumer/Pages/ccr.aspx
http://www.centralbank.ie/consumer/Documents/Central%20Credit%20Register%20-%20FAQ.pdf