# Irish Credit Bureau Score



## El_Karlos (30 Jul 2016)

Back in 2012 I went in arrears with the credit union due to not working at the time.
At the time the amount outstanding was just over €3000, I had shares (savings) of €1000,
3 months after first making contact about being in arrears and having had no contact with them prior, they wrote off my loan. They then got a solicitor to send me a letter wanting the rest of the money which I happily started paying.
My Question is if a creditor has money in savings which they can use to pay the arrears surely they would ask you to clear it first with the shares or just do it themselves.
Given that I did not authorise either vocally or in writing the loan to be written off have they done any thing wrong.
The loan was written of in September but they did not sent the letter until December.
As soon as I got the letter I started to make payments and subsequently paid the loan off completely. Had they used my shares to clear the backlog / arrears I would have then been able to get back on track with payments.
As a result I cannot get a credit card, mortgage, bank loan, or even an agreed overdraft on my personal or business account end of 2017
Do I have any recourse against the credit union in terms of having the ICB "W" Stamp removed.

Any advise would be appreciated

El_Karlos


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## Gordon Gekko (31 Jul 2016)

No, unfortunately you have no recourse.

And in any event, the shares aren't there to cover the repayments if the borrower gets into difficulty.


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