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Credit report from ICB

  • 05-07-2016 3:06pm
    #1
    Luckymummy
    Registered Users, Registered Users 2 Posts: 59 ✭✭


    Hi,

    I'm wondering if anyone can help me. I received my credit report and it has a loan on it from years ago (2004) which I never paid off. How long does this stay on my report? Or can it stay on it until I clear it?

    Thanks


Comments

  • #2
    ytpe2r5bxkn0c1
    Closed Accounts Posts: 32,688 ✭✭✭✭ytpe2r5bxkn0c1


    If you have an unpaid loan, you have an unpaid loan. Why should it just disappear from a credit report?


  • #3
    Laphroaig52
    Registered Users, Registered Users 2 Posts: 1,146 ✭✭✭Laphroaig52


    There's lots of info here about how the rating is calculated but it doesn't say anything about a time limit for taking account of good or bad performances.

    Also don't assume that paying back the loan now will automatically clear the negative impact on your rating:

    You may have to explicitly ask the lender to remove it...and if you're 12 years late in making a payment, they may not be inclined to do so!


  • #4
    Spocker
    Moderators Posts: 6,900 ✭✭✭Spocker


    An unpaid loan will stay on your report until it repaid or frozen/written off. Once either of those two events happen, it stays on your report for 5 years.

    http://www.citizensinformation.ie/en/money_and_tax/personal_finance/loans_and_credit/irish_credit_bureau.html

    As your debt is quite old, you should contact the lender, and see if it has been written off (or not) - if it has, ask when was that done, and add on 5 years - if thats before today, then you can ask them (the lender) to remove it from your record. If not written off, then you are still liable for the debt.


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