The Regulation Piece
All credit union loans are registered with the Central Credit Register. Arrears on your loan will affect your future ability to access credit with the credit union and all other financial institutions. For further information visit:
- https://www.centralbank.ie/consumer-hub/explainers/what-is-central-credit-register
- https://mabs.ie/
- https://www.centralcreditregister.ie/
- https://bpfi.ie/dealing-with-debt/
NOTICE: Under the Credit Reporting Act 2013 lenders are required to provide personal and credit information for credit applications and credit agreements of €500 and above to the Central Credit Register.
This information will be held on the Central Credit Register and may be used by other lenders when making decisions on your credit applications.
WARNING: if you do not meet your repayments on your credit agreement, your account will go into arrears. This may affect your credit rating which may limit your ability to access credit in the future.
WARNING: Your home is at risk if you do not keep up payments on a mortgage or any other loan secured on it.