Impact on Credit Rating
We will register information on your payment history with the Central Credit Register (CCR) in accordance with the Credit Reporting Act 2013. In addition, your payment history may be registered with the Irish Credit Bureau (ICB).
Your credit rating may be adversely affected if you miss scheduled repayments, make payments late or if you agree to an alternative repayment option or other resolution option. However, a creditor’s interpretation of a borrower’s repayment history depends on that creditor’s scoring criteria.
What is the Central Credit Register?
The Central Credit Register (CCR) was established by the Central Bank of Ireland under the Credit Reporting Act 2013. The CCR is a national database that will collect and store personal and credit information received from lenders for loans €500 or more. It will provide:
- a borrower with an individual credit report detailing their credit agreements; and
- a lender with comprehensive information to help with credit assessments.
For more information on the CCR you can contact the Central Bank of Ireland as follows:
Lo-call: 1890 100 050
Landline: 01 224 5500