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Loan write off

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  • 20-08-2013 9:30am
    #1
    Egan2012
    Registered Users Posts: 249 ✭✭


    Hi guys,
    I was in a situation back 6 or 7 years ago where I had taking a loan out from a bank and shortly after I fell on some hard times and I couldn't repay the loan due to personal reasons.
    I was wondering will this ever be cleared off my credit rating or will it stop me opening up a new account and potentialy taking another loan in the future if needed? I'm back on my feet finnancially now and I am just hoping that what happened years ago won't be held over my head for all of the future.
    The loan in question was not fully repayed so I was just wondering do they write off the loan or are my screwed for life for getting credit.


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    #2
    wmpdd3
    Registered Users Posts: 9,624 ✭✭✭wmpdd3


    As far as I know, its on your file for 5 years from the date they write of the loan.


    Get your ICB report to see how you are fixed.

    If its not off your file by 5 years you can ask for it to be removed before you ally for more credit.


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