Credit Rating Error

I was recently refused a bank loan because I have a poor credit rating. I was quite surprised so I took up a copy of my credit rating report. It suggested that my payments on another loan were not paid. This is incorrect. How do I arrange for my credit rating to be corrected?

The Irish Credit Bureau cannot change your credit report unless a lender requests it to be amended. This request must be in writing.

By law, financial institutions must ensure that information they hold or give to anyone else about you is correct and up to date. Accordingly, you may insist that they correct any inaccurate information about you.

If your bank made a mistake, you should write to your bank and ask them to write to the Irish Credit Bureau with details of the amendment required. You should also ask for a copy of this letter.

If your bank genuinely made an error, they should immediately correct any mistake and amend your credit report without delay. In the event that your bank delays or refuses to correct matters for you, you should consider making a formal complaint by referring the matter to the Office of the Data Protection Commissioner.

If your bank did not make an error and your credit rating report is correct they may not change or remove unfavourable details from your report. All lenders must provide an honest and truthful report of your loan repayment history.

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