Credit card unpaid 14 years

Hi all I have been so stupid with my finances through my life and now one had decided to bit me. I had a credit card I maxed out at 400 pounds Irish in 2001. I never paid it I lived abroad for a few years and just ignored it I know it's stupid but it was done. I contacted the bank last week and agreed to make a weekly payment to pay it back I owe around 750 euro but if I need to I can get the funds to repay it as I will just get rid of it. I asked the guy in collection if I would have a black mark on my credit report he said no as the debt is so old and when payment I'd done the debt will be marked as closed. I am applying for a mortgage with my wife she knew nothing of the credit card debt as it was from many years before her. Does anyone know if the guy in the bank is correct in saying that once final payment has been made it won't affect my mortgage application.

You should apply for your credit report now, both you and your wife. Details on this page [broken link removed]
If it comes back clean,apply for your loan.
As the debt was so old , older than 6 years without being enforced by the bank/credit card ,it would have been unenforceable by the bank see http://www.citizensinformation.ie/en/money_and_tax/personal_finance/debt/glossary_of_debt_terms.html

I think you may have revived the debt by calling the bank and acknowledging the debt. At this stage I would clear the balance.

GDUFFY said:

You should apply for your credit report now, both you and your wife. Details on this page [broken link removed]
If it comes back clean,apply for your loan.
As the debt was so old , older than 6 years without being enforced by the bank/credit card ,it would have been unenforceable by the bank see http://www.citizensinformation.ie/en/money_and_tax/personal_finance/debt/glossary_of_debt_terms.html

I think you may have revived the debt by calling the bank and acknowledging the debt. At this stage I would clear the balance.

Click to expand...

That's what I'm doing clearing the debt asap should have done it long ago but sure that's life and you learn from your mistakes. The guy in the bank said it should no affect me with mortgage application but I think it might be bull he is telling me. This is the main reason I'm looking for information if anyone has any experience with the way reports are filed with the icb. I asked for icb a few years ago and nothing on it then about the card thanks for the info tho...

surely there was no need to mention this long forgotten debt, it was probably written off years ago. As they say you should have left sleeping dogs lie.

This debt cannot be pushed and cannot be on your credit rating report. As previous poster mentioned check our ICB report.

Personally I think you might be worse off paying it off now as it might reopen it. Not sure how that would work but it might then go down as a negative credit check.

Well just got approval in principle from Ulster bank, paid off cc a few weeks ago but I fear I will not get full mortgage approval when we find a house. The people in aib said that if I apply for one with them there shouldn't be a problem as I..... Forgot..... About the credit card and paid it off straight away when it came to light but with Ulster bank will not see it that way as they don't know the full details. I have yet to get icb report and will get one asap as I feel I'm not going to get full approval