Check your Credit Rating

I would strongly suggest that people enquire with the Irish Credit Bureau in relation to their credit rating.  This is something that should be done every few years to ensure that your records are up to date. 

The recent debacle with Ulster Bank has reinforced the importance of checking with the Bureau.  You can go to their website at www.icb.ie and pay a €6 fee to obtain a copy of your report. 

Remember the ICB is only a data processing centre and any errors that appear on your report should be corrected by the lenders that you deal with.  

QUESTION:   I am having difficulty getting a loan from a bank for a car purchase.  Do you know what other options I might have to be able to finance it?  ANSWER:  Unfortunately this is a common problem, due to the lack of available credit from banks.  A number of car manufacturers provide their own finance directly, and I would suggest that you consider approaching a motor dealer who has this arrangement in place as an alternative.

David McCarthy covered these topics on the Galway Talks show on Thursday 19th July.