ICB credit check

westmeathman

if a loan is not paid off and is written off and a bank waits 4 years to contact you from the last payment made , how long can it go on for just read my IBC credit history and it clearly states scheduled date of removal 5 years from the date of write off and my credit is back to normal because no active loans were taken out or paid off within that date of write down . is it possible that the stature of limitations kick in , if I can avoid contact for the next 10 months as my address has changed within the last 5 years am I safe to to presume il be free of that debt and its just by chance that I have recived this letter lately as my friend had told me a letter out of the blue had arrived for at that address

[Jackass]

For a fee of €6.00 you can obtain a copy of your credit report from the ICB. This is the exact information banks will obtain when obtaining your credit rating. See here for details.

Regarding the term by which your credit history is kept on record, it is 5 years from the date of the loan being terminated. i.e. The date your loan was written off as a bad debt.

georgesstreet

westmeathman wrote: »

if a loan is not paid off and is written off and a bank waits 4 years to contact you from the last payment made , how long can it go on for just read my IBC credit history and it clearly states scheduled date of removal 5 years from the date of write off and my credit is back to normal because no active loans were taken out or paid off within that date of write down . is it possible that the stature of limitations kick in , if I can avoid contact for the next 10 months as my address has changed within the last 5 years am I safe to to presume il be free of that debt and its just by chance that I have recived this letter lately as my friend had told me a letter out of the blue had arrived for at that address

I have read your post a number of times, and find it confusing. You say the loan was written off, but the bank write to you 4 years later? What was the bank writing to you about if they had written off the loan?

Your address has changed yet you have received a letter from the bank? Why do you want to avoid contact if, as you state, your loan was written down?

It all seems quite contradictory and confusing for a stranger trying to understand what it is you are trying to say.

[Jackass]

I think what he / she is getting at is that the last payment was 4 years ago, and (s)he only now received a letter about it (for whatever reason), but got the letter by coincidence of someone at his/her old address passing it on.

I presume (s)he is worried about the ICB record being from the last point of contact rather than the last payment / account being closed, but if the letter is dated recently, perhaps the account is not written off, and they are still actively seeking redemption, in which case, the ICB record would be active since the date of the last letter...however, this is dependent on you ever receiving the letter, something to keep in mind before responding.

Again, if you want to know the exact state of play without going through the bank, you should get a copy of your credit report from the ICB to see what debts are currently active and when (if at all) any debts were written off.

Once you have that information, you can decide how to proceed.

Also, people often advise to just go straight to the bank and sort it out, but it may be worth your while getting independent advice before contacting the bank if you are concerned about anything in your credit report. (also, I don't know if MABS still exists, but from what I've heard, they're basically a Government sponsored debt resolution service who will always direct you straight to the bank, as a means of getting debtors back in contact with banks in order to resolve debts - this is not always the best course of action for the borrower however, depending on circumstances).

westmeathman

what I ment to say was an account with mbna bank was wrote off as a bad debt 4 years ago but avant card bought over mbna almost 4 years after my debt was put up as a write off just about a year ago . now in the last week or so avant card has wrote to me at one of my old address to say monies are still outstanding from the old mnna card even though I have letter proof to say it was wrote off 4 years ago . I have an ICB report and can see it in black and white it is to be removed of my credit history in around 10 to 12 months time and gone for good , it has been a long 5 years not be able to get credit or a loan form a bank because it . I really should not have opened the letter but I can tell you I wont be opening any more as it was just by luck that an old friend of mine lives at that old address and gave it to me so I have told him to return to sender as no known persons at this address . also the stature of limitions kicks in very shortly on this anyway .

[Jackass]

As long as it's on your ICB report that it was closed back then, then I wouldn't worry about it.

roxybing

Making contact with the bank is neither here nor there as far as the ICB is concerned. The details of the account will remove from the ICB as stated on your report 5yrs after the 1st registration of the write off.

However a write off on the ICB does not mean the balance disappears and you are free from this debt. You remain liable for the balance unless you are bankrupt (confirmed in court) or are under the protection of the courts as per the Insolvency services of Ire

A bank at any point to trace a customer can get a copy of your ICB and if you have moved address it will show your new address and they can make contact with you either themselves or through a 3rd party collection agent.

chris85

roxybing wrote: »

Making contact with the bank is neither here nor there as far as the ICB is concerned. The details of the account will remove from the ICB as stated on your report 5yrs after the 1st registration of the write off.

However a write off on the ICB does not mean the balance disappears and you are free from this debt. You remain liable for the balance unless you are bankrupt (confirmed in court) or are under the protection of the courts as per the Insolvency services of Ire

A bank at any point to trace a customer can get a copy of your ICB and if you have moved address it will show your new address and they can make contact with you either themselves or through a 3rd party collection agent.

+1

A write off doesnt mean the debt is not owing. Purely means the bank cant see them recovering the balance at the time. Very common for them to write off and come back. If they do its often for legal action depending on balance. Statute of limitations for recovery in court is 6 years. If they obtain a judgment this pushes out to 12 years from date of judgment which is very possible. They do trace people and easy enough for them to do in most case.

Googlegirl86

westmeathman wrote: »

what I ment to say was an account with mbna bank was wrote off as a bad debt 4 years ago but avant card bought over mbna almost 4 years after my debt was put up as a write off just about a year ago . now in the last week or so avant card has wrote to me at one of my old address to say monies are still outstanding from the old mnna card even though I have letter proof to say it was wrote off 4 years ago . I have an ICB report and can see it in black and white it is to be removed of my credit history in around 10 to 12 months time and gone for good , it has been a long 5 years not be able to get credit or a loan form a bank because it . I really should not have opened the letter but I can tell you I wont be opening any more as it was just by luck that an old friend of mine lives at that old address and gave it to me so I have told him to return to sender as no known persons at this address . also the stature of limitions kicks in very shortly on this anyway .

I am just happening to come across this thread now as I am in a similar situation myself.
Can someone explain Stature of Limitations to me?

I am due to have two loans written off in the next 18+ months and I was wondering when this eventually happens and my credit report goes back to ''blank''
is it possible to be able to apply for credit / loan / mortgage?
I kind of find it hard to believe that at my age any bank will believe i never had a loan / credit card out before?
I was very foolish and naive back in the day and am afriad i have basically f*cked my chances of ever being looked at again?

Feedback much appreciated?