Know your rights - loan refusal



My bank has refused me a loan, giving my poor credit rating as the reason. Where did it get information about my credit history and how can I check this information?


The Irish Credit Bureau (ICB) compiles a private database of information supplied by its members, which include the main financial institutions.

The database is available for lenders to consult to see if potential borrowers have ever defaulted on loans. The aim of the system is to help lenders to assess the ability of borrowers to repay any future debts.

You can get a copy of your credit record by applying online to the Irish Credit Bureau and paying €6. You can also download an application form from or phone the ICB at (01) 260 0388 to request one.

For security reasons, your credit report will be posted out to you, not emailed.

The database includes information on a wide range of loans, including personal loans, mortgages and credit card loans. It will only hold information about you if you have had an active loan in the past 5 years and if your lender provided information to the ICB. Your individual credit record includes:

· Your name, date of birth, address(es) used by you in relation to financial transactions

· Names of lenders and account numbers of loans that you currently hold, or that were active within the last 5 years

· Repayments made or missed for each month on each loan

· Failure to clear off any loan

· Loans that were settled for less than you owed and

· Legal actions that your lender took against you

If the record is inaccurate, you may ask the ICB to correct it. If you are not satisfied with how the ICB deals with you, you may appeal to the Data Protection Commissioner. Further information is available from the Citizens Information Centre below. Know Your Rights has been compiled by Kilkenny Citizens Information Centre . which provides a free and confidential service to the public. Tel: 0761 07 7910. Address: 4 The Parade, Kilkenny.

and at Callan, Graiguenamanagh and Mooncoin. Information is also available online at and from the Citizens Information Phone Service, 0761 07 4000.