Update: I sent the email to the CCR seeking guidance, as outlined above. I received a response, which was generic, outlining what each data entry means, etc. However, my question above wasn’t answered at all.
The response was:
“Thank you for your email.
Credit information is recorded over time until five years of information is shown on your credit report.
However, while a loan is still active it will be continued to be submitted on a monthly basis to the Central Credit Register.
When a loan has been closed (where all payments have been discharged, or the loan closed off or written off by the lender), the information will be completely removed from the credit report five years after the last payment was made and the loan was closed.
Contract Data consists of information submitted by lenders regarding financial contracts. This includes outstanding balance, start and end dates, payment frequency etc.
If you believe some of your Contract Data is inaccurate on your credit report, you have a right to request that the data be amended and can submit an Amendment Request.”
So, as I am none the wiser, I’ve sent a further email, short and sweet, asking the straight question,
“Re: CIS Number xxxxxxx
Dear CCR,
When will the following scenario be removed from my CCR Report?
Credit Status: Settlement (dated 03/2021)
Contract Phase: Active
Last Payment “0”
Next Payment “0”
Outstanding balance: €189,740
Regards,”
From my research into this, using CCRs Guidance Handbook (May ‘23), which gives direction on each status and what goes where, there is no guidance to/or a situation whereby “Settlement” and “Active” are reported simultaneously.
I have reviewed a similar (albeit my case not bankruptcy) that was ruled upon by the FSOI, in relation to reporting not following the clear guidance of the CCR. Pages 6,9 and 11 reference the status fields:
(I can’t post the link, it’s the FSOI ruling on CCR reporting by Credit Union)
I’ll keep you all up to date in relation to the response I receive from the CCR Team.
I’ll definitely seek legal advice and would appreciate a steer to a solicitor who may have some knowledge of this area? as opposed the local solicitor.
Thank you all for your input/advice so far!