CCR & Standing Order

[TRS30]

Received a letter from my bank that a standing order went unpaid. My own fault as an unexpected large amount came out of the account between Christmas & New Years and by the time I realised and transferred in funds, the standing order had gone unpaid. This is a small amount (<€150) to a non financial 3rd party.

The letter said this would be reported to the CCR. Is this standard practice for missed standing orders to non financial entities? Just wondering what impact this will have on my credit rating.

 

[TLO]

Okay, the bank itself won't report to the CCR. It's up to the recipient to make the report, but only if the payment is in respect of a credit agreement greater than €500. In this case, the recipient appears to be a "non financial entity", so it's possible that there is no credit agreement, and no reporting to the CCR.

 

[TRS30]

Okay, the bank itself won't report to the CCR. It's up to the recipient to make the report, but only if the payment is in respect of a credit agreement greater than €500. In this case, the recipient appears to be a "non financial entity", so it's possible that there is no credit agreement, and no reporting to the CCR.

Thanks- that is what I though. I will read the letter again as pretty sure it said that the bank was going to report it. I might have picked it up wrong.

 

[sarah rocco 79]

Hi
Did you find out if it affecting your credit score?

 

[ClubMan]

Did you find out if it affecting your credit score?

There's no such thing as a standard/public credit score in Ireland. Just the CCR. And you can request your record for a small fee if you want to check what's on it today might affect your borrowing abilities.

Central Credit Register|Central Credit Register

The Central Credit Register (CCR) is being established by the Central Bank of Ireland, under the Credit Reporting Act 2013.

www.centralcreditregister.ie

 

[sarah rocco 79]

Sorry I meant, did they find out if the missed standing order appeared on their credit report if less than €500

 

[ClubMan]

It doesn't sound like the missed SO was in respect of a credit agreement in which case it would not be a CCR issue as @TLO suggested above.

If you are concerned about your own credit record then contact the CCR to get a copy of your record in order to see what's on it.

 

[Freelance]

the CCR. And you can request your record for a small fee

Small point. In the majority of cases there is no charge for a copy of your CCR record. See below. Well worth applying from time to time to ensure there are no errors etc in your record. It takes approx a week and can be requested and delivered electronically.

Is there a charge for a credit report?​

Borrowers who are individuals can submit a request for their credit report at any time free of charge, subject to such requests not being excessive as per the General Data Protection Regulation. This is called 'fair usage'. Borrowers who are not individuals (for example companies) may submit a request for a credit report once a year free of charge. There will be a charge of €6.35 for any subsequent request within the year.

Source: From the CCR FAQ

 

[ClubMan]

Small point. In the majority of cases there is no charge for a copy of your CCR record.

Thanks for the clarification. I had assumed that it was similar to the old ICB process and charge. Good to see that there's no charge in many (most?) cases.

 

[TRS30]

Hi
Did you find out if it affecting your credit score?

No. Once I read the answers here, I was comfortable that was not a qualify payment so forgot about it!