personal credit rating

I have recently closed down a business partnership that I was in. I now have a van that the ownership has been transfered to me. The problem is I can't afford the monthly repayments of €300. My query is that if I hand the van back to the banks, how long will my credit rating be affected for. Or should I try to re-negotiate thr terms. I owe €10,000 on the van.

As far as I know all financial transactions stay on your credit report for 7 years (I could be wrong though).

I would definitely talk to the bank. Perhaps you could try and sell the van, pay the lump sum off the loan and then re-negotiate paying off the balance with the bank.

Check out the Irish Credit Bureau's website, you might find some useful info there.