CCR Can I avoid

Discussion in 'Banking, credit cards, etc' started by cremeegg, Nov 27, 2017.

  1. cremeegg

    cremeegg Frequent Poster

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    I received a letter from my bank this morning saying that they will be providing information about any loans I have with them to the CCR.

    Is there any way I can stop them sharing this information with a third party like this.
     
  2. newirishman

    newirishman Frequent Poster

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    Got the same information today.
    Look at the Terms & Conditions of your accounts - I am pretty sure you will find that part of their T&C's they tell you that they will share such information to the relevant registers.
    Also, the central credit register is not some random third party. It is operated by the Irish Central Bank, and therefore (at least technically) much more preferable over the ICB, which is owned by the financial institutions.

    You will find that there's isn't much you can do. The Credit Reporting Act 2013 covers this from a legal point of view.

    Follow the link below for the details:
    https://www.centralcreditregister.ie/about/legal-basis/
     
  3. odyssey06

    odyssey06 Frequent Poster

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    I thought the letter was a bit pointless... given that there is absolutely zero action you can take to prevent it from occurring.

    When you add up the cost of all those letters to everyone with a loan, relating to ALL loans ... Surely emails comms, news alerts on websites etc and information in the national media would be sufficient.
     
  4. newirishman

    newirishman Frequent Poster

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    I'm with Ulsterbank who sent me an email, so no printing / postage costs etc.
    But given how often we read that people "didn't get a letter" and therefore didn't react/refuse to pay/get in touch/whatever (also on this forum) I would think that sending physical letters is seen as a Good Thing.
     
  5. cremeegg

    cremeegg Frequent Poster

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    I am still hopping mad. How dare they share my confidential information with the Central Bank without asking my permission.
     
  6. odyssey06

    odyssey06 Frequent Poster

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    In general I would agree better to get a letter, but given that there's no "reaction" the receiver can take here it seems like something that will just annoy people like the OP!
     
  7. newirishman

    newirishman Frequent Poster

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    Again, have you checked Terms and conditions of the relevant accounts?
    You might already have given them the permission.
     
  8. Palerider

    Palerider Frequent Poster

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    Credit information has been shared for years, nothing to see here.
     
    newirishman and Tom Finn like this.
  9. Tom Finn

    Tom Finn Registered User

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    you do know your information has been shared with the ICB for years?
     
  10. cremeegg

    cremeegg Frequent Poster

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    Not all of it.

    I applied to the ICB for my report since reading your post. Two interesting results.

    I got a telephone call to clarify one of my two addresses in the last 20 years. I confirmed the one which was unclear to the caller, if I were trying to avoid a bad loan record I could simply have said that was not my address.

    The report came back this morning, it does not show a term loan I took out last May with B of I.

    Of course on further reflection I realise why on one else is concerned. Everyone else realises that the CCR will be so inaccurate that it wont have any detrimental effect.

    I must recheck that the electricity bill still has Cremeegg Streamview Smithstown Ballyhere as the address and the telephone bill still has An Ubh in a Uachtar Streamville Ballyhere Smithstown. :rolleyes: You never know.
     
  11. RedOnion

    RedOnion Frequent Poster

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    With CCR they'll both have the same PPS number so it won't matter.
     
  12. cremeegg

    cremeegg Frequent Poster

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    Neither the electricity company nor the phone company know my PPS number
     
  13. RedOnion

    RedOnion Frequent Poster

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    And they won't be reported to CCR either.

    My point was more that CCR is going to be far more accurate than ICB simply because it uses PPSN as a unique identifier.
     
  14. cremeegg

    cremeegg Frequent Poster

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    As far as I am aware loans, mortgages and other credit facilities, those issued up to now at any rate, do not have PPS numbers associated with them
     
  15. Elnino

    Elnino Registered User

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    If you ever received mortgage interest relief at source then your bank will have your PPS number associated with your mortgage.