AIB Will AIB reinstate my credit rating?

maccers_85

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Hi Brendan, thank you for your tireless efforts.

Do you know if AIB will reestablish your credit rating because of missed payments or will this be something that we will have to fight further? Also will that 1615 be taken off the 4%.

Thanks again!
 
That is a very good question.

We chose Karen as a trailblazer case as there were no complications - such as arrears or a misleading conversation with a bank manager.

So if we won, AIB would not be able to say "Well she had special circumstances and that does not apply to anyone else"

I would imagine that they will have to correct the credit record if your redress is €30k and your arrears are €10k.

I am not sure what happens if the redress is say €30k and your arrears are €80k ,

Brendan
 
I am currently applying for a mortgage. I ordered my credit report and it showed some missed payments from a couple of years ago. Since then I received the 12% back from the AIB redress. We have been told that my missed payments will probably mean we won't or will find it very hard to get a mortgage. Do i have a case to dispute this due to the redress? Or is it possible to get my credit restored because of the scandal? The money received far outweighed the 3 missed payments.
 
Interesting question.

Who told you that the missed payments will make it hard?

What was the extent of the "some missed payments"? Did you miss three payments and then catch up again quickly. Or are you still in arrears a few years later?

Have you still got your mortgage with AIB? Have you applied to them for the new mortgage?

The first step should be to ask AIB to correct the ICB record as they were overcharging you. If it were a normal tracker overcharging issue, you could argue that your payments were in advance, and not in arrears.

But with the Prevailing Rate issue, it's not as clear cut.

Brendan
 
I see you had already asked this question last year, so I have merged the threads.

Did you take it up with AIB last year? That would have been a good time to try to resolve it.

Brendan
 
A mortgage broker said this to me. He hasn't submitted the application yet but I have given him a letter from my solicitor and a copy of the letter from the bank with the 12% paid off my mortgage. I still have my mortgage with AIB and was hoping to sell my current home and buy a new one.

No, I didn't try to take it up with them at the time. I contacted my solicitor recently and he said he was going to look into it.

There were 3 missed payments over a couple of years. I was in contact with the bank and was paying them back an extra 100e per month but then I got the 12% paid off the mortgage which cleared it.
 
No, I didn't try to take it up with them at the time. I contacted my solicitor recently and he said he was going to look into it.

Why on earth would you ask a solicitor to do this for you?

Get onto AIB yourself directly and ask them to fix it. They probably won't, but you should try.

And apply directly to AIB for a mortgage as you have one with them. Don't let a broker muddy the waters for you.

Brendan
 
I spoke to AIB directly. All they would do is lodge a complaint. So will have to wait and hear what they come back with. It also says on the Irish credit bureau that you can lodge a complaint through the Data Protection Commissioner if the bank fails to rectify the issue.

Thanks for the advice I will talk to my local branch about the mortgage. I will update this thread when I hear a response from the complaint.
 
If the bank makes a mistake, they must rectify it. For example, noting that you had missed a payment, when you had not.

But it's not clear that they made a mistake on your credit record. You did miss a few payments and took a while to get back on track. I would say that the Central Credit Register rules oblige them to note them as missed payments.

Brendan
 
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