Credit History ICB

harry1988

Folks I hope you can help me please. I've been reading on the ICB site that loan information is kept for 5 years after a loan is closed. I emigrated in 2008 because I had lost my job and was broke. I voluntarily handed back an expensive car to the bank (I'm certain there was a shortfall after sale), left a credit card with about €8,500 on it and a term loan with €10,000 and an overdraft of €3,000 (approx). I just couldn't make the repayments and as I'd been self-employed I didn't even qualify for dole in Ireland. Thankfully I hadn't a mortgage.

If I return to Ireland what's the story? Are the above loans still open on the ICB database or are they closed? If I applied for a mortgage or credit in the future in Ireland, would the unpaid items reappear?

Thanks in advance for any pointers or information. I'm on holiday in Ireland at the moment and would love to return but am scared to return because of these debts and the fear of ending up in prison. I've told nobody about them. I was young (22) and should never have borrowed so much money, especially for the car.

Liam D Ferguson

A lot depends on what the banks chose to do with your unpaid debts. If they eventually gave up and wrote them off, then you wait five years after they were written off and they should disappear from your ICB record.

If they left them open as "arrears" then they will remain on your ICB record indefinitely.

You can order a copy of your ICB record directly from the ICB for a nominal fee. I think it would be worth doing in this instance.

chris85

Liam D Ferguson wrote: »

A lot depends on what the banks chose to do with your unpaid debts. If they eventually gave up and wrote them off, then you wait five years after they were written off and they should disappear from your ICB record.

If they left them open as "arrears" then they will remain on your ICB record indefinitely.

You can order a copy of your ICB record directly from the ICB for a nominal fee. I think it would be worth doing in this instance.

Also if there is a bit of debt did the banks secure a judgment on the matter in court before you went? They would need to have sent a summons registered post to you. Rare occassions this has happened while someone has emigrated and the banks werent aware of this and they issued a summons to their address and their family signed for it and forgot about it and the bank get awarded the judgment by default. Has happened.

In terms of jail time, this wont happen.

harry1988

After I left in 2008, a man called twice to the house I lived in - a former housemate emailed me at the time - he seemed to disbelieve that I wasn't there any longer and I presume he was from a bank or debt collection agency. I also had a load of voice messages on my Irish mobile from the credit card company. I'm afraid that if I contact the ICB for a report they'll be able to track me down. Part of me would like to pay these off or settle them and at least I'd have the peace of mind. It's an awful worry.

Liam D Ferguson

harry1988 wrote: »

After I left in 2008, a man called twice to the house I lived in - a former housemate emailed me at the time - he seemed to disbelieve that I wasn't there any longer and I presume he was from a bank or debt collection agency. I also had a load of voice messages on my Irish mobile from the credit card company. I'm afraid that if I contact the ICB for a report they'll be able to track me down. Part of me would like to pay these off or settle them and at least I'd have the peace of mind. It's an awful worry.

If you're in a position to start paying off what you borrowed now, then you can contact the bank(s) and tell them you'll pay them X per month. They'll be delighted to hear from you as it's far better for them to be getting something rather than nothing.

If you have an Irish address where someone will forward post to you, get the ICB report sent there. Banks won't chase you through an ICB query.

harry1988

Thanks guys - I'm going to email the banks and see what they have to say - I'd like it out of my hair tbh. It stresses me out big time. Cheers for all the advice. Appreciated.