The Central Bank of Ireland are setting up a Central Credit Register under the Credit Reporting Act 2013. The Central Credit Register is a national database that will, on request, provide:
a borrower with an individual credit report detailing their credit agreements;
a lender with comprehensive information to help with credit assessments; and
the Central Bank with better insights into national trends in the provision of credit
The Credit Reporting Act 2013 requires us to process your personal and credit information for the Central Credit Register. From 30 June 2017, we will submit personal information to the Central Credit Register that we may already have about you, like: your name, address, date of birth, PPSN
The Central Credit Register needs this information to make sure it accurately matches your loans, including loans that you may have with other lenders. Producing a full and accurate credit report is one of the main aims of the Central Credit Register. We will also submit credit information each month about your loans, if the loan is for €500 or more. Your loan information will be stored securely on the Central Credit Register where it will be used to create your credit report.
Lenders may only access your credit report:
when considering an application for a new loan;
if you ask to change the terms of a loan; or
if they are reviewing a loan in arrears
Employers, landlords, or any other person or entity cannot access your credit report without your written consent. You do not need to take any action. We will shortly begin to send information on your loans to the Central Credit Register.
We invite you to read the Central Credit Register factsheet at https://www.centralcreditregister.ie/media/1083/a-consumer-guide-to-the-central-credit-register.pdf
Your rights under the Credit Reporting Act 2013
When credit reports become available, you will have a right to:
request your credit report at any time and
the first credit report each calendar year is free;
insert a 200-word explanatory statement on your credit report;
apply to have your information amended if you believe it is: inaccurate, incomplete; or out of date
make a report to the Central Credit Register if you reasonably believe that someone has, is, or is about to impersonate you.
The Central Bank will publish on www.centralcreditregister.ie the exact date when credit reports will become available.
What information will be held on the Central Credit Register?
The Central Credit Register will hold information about loans existing on 30 June 2017 and any new loans after that. From then, lenders will also send the Central Credit Register monthly updates on the status of loans.
The type of credit information that the Central Credit Register will store includes the:
amount of all loans;
type of each loan – such as credit card, mortgage, overdraft, personal loan;
name of each lender;
number of overdue payments if any;
and date of next payment.
Where can I get more information about the Central Credit Register?
LoCall: 1890 100 050