Should Covid - 19 Payment Breaks Appear on CCR?

M

MrEarl

Registered User
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2,794
Hello,

In the early days of the pandemic, the Banks offered a 3 month payment holiday / interest only period without challenge or query, and then later offered a second 3 month break, subject to almost no further scrutiny.

When these payment breaks were being offered, particularly the initial 3 month break, I seem to recall mention that these breaks would have no impact on credit etc. I think this was coming from Government, if I recall correctly.

However, I'm now informed that the breaks are appearing on some CCR records, as a restructure event. Should that be the case ?
 
According to the CCR

"When lenders agree a payment break with you, they should not report any missed payments or payments past due in the “Number of payments past due” column on the credit report, or report the loan as being restructured during the payment break"

Payment Breaks

Information for consumers about the Central Credit Register
www.centralcreditregister.ie www.centralcreditregister.ie


So it would suggest the answer is no, these breaks should not appear as a restructuring - assuming no other agreement has been reached in the intervening period.
 
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