Central credit register report showing debt but not icb. Will i get a mortgage?

kitty13!

Hi,

Would appreciate anyones guidance on my situation..

I applied for a mortgagage last year with AIB and was approved for a smaller amount as i had a loan with them at the time. I decided to reapply again as the loan had been cleared and I was hoping to get a higher amount

On applying, I recieved a mesage asking was I aware of a €862 unpaid debt and I originally thought they were mixing me up with my husband ( who had a debt written off, but still appearing on his icb until 2021) hence why I applied individually.

So I since found out this was my debt and was quite surprised as I thought I had cleared any debts years ago. I had a loan for 3440 euro in 2010 with aib which I defaulted on as came out of college in a recession and no work. I entered full employment in 2014 and was in a position to pay debt. As this debt was with intrum justitia I entered into a agreement to pay monthly 100 euro installments..ive gone back over bank statements and can see this was coming out at the same time each month and noticed there was a stage this hadn't happened even though I had money in my account. Intrum rang me and I was confused as to why payments would stop as thought it just automatically came out of my bank each month. It was noticed I had applied for a replacement bank card ( as ive a tenancy to loose cards ) I gave intrum new card details and the payments started again . Thinking everything was being paid, im now surprised to see this debt come up. After a bit of investigation on my bank statements i noticed a few months later the payments stopped and of course this corresponds with another repalcement bank card and tbh totally forgot about intrum as never noticed it coming out monthly anyways.

Aib said i was receiving arrears letters until 2018, but since I reside in dublin and not my parents home address, I was missing these correspondences..

I always thought I was fine as icb never showed up anything years ago, I was approved a 20,000 euro loan with aib which Ive recently finished off a year early ( just paid off a lump sum of 5k last month to finish it). So I've always been under the impression I had no debt.

Aib said they approved my first smaller amount loan last year as they only looked at icb and now the ccr is showing this.


Feel like I've wasted so many years building up a good credit rating paying my loan on time monthly, thinking I had no debt, saving consistently and its going to kill me to start waiting 5 years again..

I haven't replied to aib yet as would like external advice first

Jim2007

kitty13! wrote: »

Do I have any chance at all...should I go to intrum and pay this off straight away and will this show on my ccr for 5 years now.

How is this even a question? You are expecting someone to sign off on a very substantial loan for someone who has not honored a previous debt...

Shadow2019

Hi There I have had a similar experience with debt collection agencies and CCR. Who is showing on the CCR is it Interim Justica or AIB? You can obtain a copy of report free of charge which is worthwhile before deciding which way to make a payment. If you have been getting loans and paying during this time that will be a good sign but until the other debt is paid or statute barred it will stay in your report as still active and once paid for 5 years after - even a small amount can hinder chances. Entering a monthly plan or once off payment depends on when are you looking to go for a mortgage? I am waiting for 2 years clear of debt to pass, this isn’t by choice it’s what both my bank and Finance ireland (who offer bad credit mortgages) advise is the minimum term and I’m still high risk of refusal. If I had of known about the 2 years I would have set up a payment plan to rebuild credit instead of paying in a lump sum.

kitty13!

Shadow2019 wrote: »

Hi There I have had a similar experience with debt collection agencies and CCR. Who is showing on the CCR is it Interim Justica or AIB? You can obtain a copy of report free of charge which is worthwhile before deciding which way to make a payment. If you have been getting loans and paying during this time that will be a good sign but until the other debt is paid or statute barred it will stay in your report as still active and once paid for 5 years after - even a small amount can hinder chances. Entering a monthly plan or once off payment depends on when are you looking to go for a mortgage? I am waiting for 2 years clear of debt to pass, this isn’t by choice it’s what both my bank and Finance ireland (who offer bad credit mortgages) advise is the minimum term and I’m still high risk of refusal. If I had of known about the 2 years I would have set up a payment plan to rebuild credit instead of paying in a lump sum.

Thanks shadow2019, its not a question that I won't pay the debt (as per the "gentlemans" response above) I will and in full. As I haven't recieved my ccr yet, I dont know how this is reported( active or closed). I would assume still active. They said they sent arrears letters to the address up until 2018.

I was just under the assumption I had previously paid this after entering into an agreement with the agency. Unfortunately the payments stopped due to a replacement card that i had not noticed, as had ensured with them they took this out at the start of each month( when I got paid) Why they don't do wire transfer baffles me..

Anyways I can only put it behind me, pay and hope in 2 years they'll consider me. Surely this oversights and my recent good records will help

I'm still waiting for my ccr report, and assuming it might say AIB on it, as the mortgage rep said it is showing arrears letters from AIB. was this the same for yourself?

Are banks saying they will consider you after 2 years aswell?

kitty13!

Jim2007 wrote: »

How is this even a question? You are expecting someone to sign off on a very substantial loan for someone who has not honored a previous debt...

I'm afraid Jim you're taking me up wrong, I was under the impression i had this paid off, it was an oversight on my side.

If i knew these payments were not coming out ( I had the money in the bank) this situation would have been rectified back then.

What I'm trying to understand right now is the reporting around this as I have not recieved a ccr report yet, only my icb which is clear...

housetypeb

"Aib said i was receiving arrears letters until 2018, but since I reside in dublin and not my parents home address, I was missing these correspondences.."

Your parents never mentioned that mail was coming for you at their address ?

Shadow2019

kitty13! wrote: »

Thanks shadow2019, its not a question that I won't pay the debt (as per the "gentlemans" response above) I will and in full. As I haven't recieved my ccr yet, I dont know how this is reported( active or closed). I would assume still active. They said they sent arrears letters to the address up until 2018.

I was just under the assumption I had previously paid this after entering into an agreement with the agency. Unfortunately the payments stopped due to a replacement card that i had not noticed, as had ensured with them they took this out at the start of each month( when I got paid) Why they don't do wire transfer baffles me..

Anyways I can only put it behind me, pay and hope in 2 years they'll consider me. Surely this oversights and my recent good records will help

I'm still waiting for my ccr report, and assuming it might say AIB on it, as the mortgage rep said it is showing arrears letters from AIB. was this the same for yourself?

Are banks saying they will consider you after 2 years aswell?

I had a similar experience and like yourself was happy to pay. The CCR is reporting on anything from 2017 onwards but also includes debt collection agency’s such as IJ and Cabot which is where a lot of people are finding previous debts that would have been on ICB and dropped off after 5 years showing again on CCR. Best thing to do is wait for CCR report and see what it says. As it stays on record for 5 years once paid you will have to explain it to any lenders. Could be worthwhile speaking with AIB(are they who you are looking for lending?) if you explain they may take that into consideration but either way should be able to tell you when the likely hood of getting a loan will be.

Our bank and a lender called Finance Ireland have said they will consider us after 2 years so that will be March fingers crossed.

There’s no point going over old ground in terms of why it happened etc. Bad credit happens to good people it’s not always black and white and is unfair to assume so given a lot of the time there are circumstances that leave no choice etc.

You are where you are and will put it right and move forward.

kitty13!

Shadow2019 wrote: »

I had a similar experience and like yourself was happy to pay. The CCR is reporting on anything from 2017 onwards but also includes debt collection agency’s such as IJ and Cabot which is where a lot of people are finding previous debts that would have been on ICB and dropped off after 5 years showing again on CCR. Best thing to do is wait for CCR report and see what it says. As it stays on record for 5 years once paid you will have to explain it to any lenders. Could be worthwhile speaking with AIB(are they who you are looking for lending?) if you explain they may take that into consideration but either way should be able to tell you when the likely hood of getting a loan will be.

Our bank and a lender called Finance Ireland have said they will consider us after 2 years so that will be March fingers crossed.

There’s no point going over old ground in terms of why it happened etc. Bad credit happens to good people it’s not always black and white and is unfair to assume so given a lot of the time there are circumstances that leave no choice etc.

You are where you are and will put it right and move forward.

Thanks,

You've been very helpful and 100% agree it is not always as black and white. I'll look into it further once I get the CCR, but will refocus for the next few years- need to take the positives of maybe needing less of a mortgage when that time comes.

I wish you all the best come March and it would be great to hear such a good news story

bizzieebee

Shadow2019 wrote: »

I had a similar experience and like yourself was happy to pay. The CCR is reporting on anything from 2017 onwards but also includes debt collection agency’s such as IJ and Cabot which is where a lot of people are finding previous debts that would have been on ICB and dropped off after 5 years showing again on CCR. Best thing to do is wait for CCR report and see what it says. As it stays on record for 5 years once paid you will have to explain it to any lenders. Could be worthwhile speaking with AIB(are they who you are looking for lending?) if you explain they may take that into consideration but either way should be able to tell you when the likely hood of getting a loan will be.

Our bank and a lender called Finance Ireland have said they will consider us after 2 years so that will be March fingers crossed.

There’s no point going over old ground in terms of why it happened etc. Bad credit happens to good people it’s not always black and white and is unfair to assume so given a lot of the time there are circumstances that leave no choice etc.

You are where you are and will put it right and move forward.

Would you be aware of what happens if something is marked written off not, does this disappear after 5 years also or will Cabot just keep updating it on the CCR?