Do all banks keep records of debts written off?

sadie1502

Hi all. My aunt has debt written off. She pays monthly through MABS as she is unemployed. She requested an ICB report and it shows one loan and a credit card. She know she had other credit but they are not listed on the report. Has this debt been written off ? She is panicing as she knows she hadn't paid the debts in full. Do the banks that are not listed have a black mark against her in their own database? What im asking is if for example AIB gave her a loan and the debt is now written off, will they ever give her credit again in the future or is that marked against her name and address forever ? Thanks for any help she is very upset to think her credit will be ruined forever more

hfallada

I think write offs are on a credit report for 5 years. So it will be on their credit report for 5 years. But sometimes you can have a write off and the bank will list it as paid in full

sadie1502

Thank you for your reply. But as in terms of the actual bank its will they have a mark against my aunts name forever? So if she had credit incthe past with two banks and the debt was written off after will she ever be able to get credit with that particular bank ever again ?

Jim2007

sadie1502 wrote: »

Thank you for your reply. But as in terms of the actual bank its will they have a mark against my aunts name forever? So if she had credit incthe past with two banks and the debt was written off after will she ever be able to get credit with that particular bank ever again ?

Nobody can answer that question - If the bank staff remember her, you can bet they will not be in much of a hurry to recommend her to HQ for a loan regardless of how long ago it was.

hfallada

sadie1502 wrote: »

Thank you for your reply. But as in terms of the actual bank its will they have a mark against my aunts name forever? So if she had credit incthe past with two banks and the debt was written off after will she ever be able to get credit with that particular bank ever again ?

A loan decision is often based on what the bank manager says. If they know she has had issues paying off debt in the past. They mightnt lend to her again. But there is other banks that will lend if she has good credit report.

sadie1502

The loans were taken out over 6 to 7 years ago. Online applications so she doesnt know the manager or personnel. Im just asking if anyone knows factually what records are stored by the banks own records. Is there a big black X beside her name?

matt70iu

Hi

Am in a similar situation and as a result have done a bit of research.

The bank the loan(s) were with will have a record of these debts, even if they were written off and are no longer on the ICB.

Weather they will give her credit or not again, I reckon would be down to a case by case basis.

When buying a car on PCP from a dealer, I made sure my ICB was clear and that it was not the bank my old debts were with that was providing the finance.

Got approved no problem, although there is still a bit outstanding from these old debts, in my case which I had to put on the application,

Bottom line, perhaps when your mum's ICB report is clear, she should apply for credit from a different bank or even the credit union, just to build up her credit again, then she may get credit from her previous lenders.

Best of luck

Jim2007

sadie1502 wrote: »

Im just asking if anyone knows factually what records are stored by the banks own records.

Do you seriously expect a bank employee to disclose the internal operations of their employer

sadie1502

Well i didnt expect it to be top secret due to freedom of information act. I just thought somebody would know this information. Surly people have a right to know what information is held about them ?

Jim2007

sadie1502 wrote: »

Well i didnt expect it to be top secret due to freedom of information act.

The FOI relates to Government departments not private companies.

sadie1502 wrote: »

Surly people have a right to know what information is held about them ?

They do under the DPA and if you want to know there is a proper course of action you can follow.

But expecting people to divulge details of their employer's business is not the way to do it.

sadie1502

Jim2007 wrote: »

The FOI relates to Government departments not private companies.



They do under the DPA and if you want to know there is a proper course of action you can follow.

But expecting people to divulge details of their employer's business is not the way to do it.

I really don't see what the problem is. Is this top secret classified information. Its just a general question. I was asking members of the public if thet knew by chance.

sadie1502

I think you are over analysing my question it was just on the off chance someone would know. Im not asking them to divulge anything about any bank or even if they work for a bank. Thatd irrelevant to me. Through personal experience someone might have the answer.