Ulsterbank Credit Report Query

[Philip111]

I had an Ulsterbank Current Account with an arranged Overdraft. This was automatically closed last year when Ulsterbank left Ireland. There was an outstanding balance on the over draft - relatively small <€1000.

On my Credit Report - the overdraft is marked as Closed with a Credit Status "Write Off"

I would like to settle this debt, but I am wondering is there any benefit in terms of my credit report. A payment will re-set the 5 year clock, where-as as it stands I have 1 year down. I'm assuming either way I would struggle to get any form of credit until my record is clear

 

[peemac]

Didn't Ulster Bank write off thousands of balances?
It should not affect your credit rating as it was UB that did the write-off to exit the market and not due to customers not paying.

It should not affect your credit record as the banks know this.

Ulster Bank writes off most remaining credit card bills

Ulster Bank has told most of its remaining credit card customers here who had outstanding balances that what they owe is being written off.

www.rte.ie