Credit Talk for Ireland

Student loans are now being prioritized in Ireland for they have realized the importance of credit in today’s financial status in the economy. Credit is like the oxygen of the economy in Ireland however not everyone has realized the importance of credit today.

The Bank of Ireland has drafted two new schemes to help improve the credit in the country. The schemes and the increasing number of third-level students who are paying overdue are the crucial elements that could lead in the increase of the bad credit ratings in the future.

According to the CEO of the National Consumer Agency, Ann Fitzgerald, it is very important that students know the effects of their poor credit history in how their financial status in the future. A person’s credit history includes the list of lenders and account numbers you have had. Furthermore, it also contains information about the credit cards you have or those that were closed in a five year span, also it shows the loans you have and those you missed to pay.

A bad credit rating is very painful in your record. It could cause high interest rates, the loss of a job opportunity and worse, it could spell disaster for your future loan endeavors. It is important that you have a good behavioral standing and you should avoid missing payments in loans.

The Irish Credit Bureau is the agency that records the credit ratings in Ireland. It also acts as an aid for financial institutions in the country by giving the necessary information they need about loans. The agency has an up to date record of every person’s credit.

The records that they have are also designed to help prevent their clients from being victims of fraud and falling into indebtedness. The Bank of Ireland was scrutinized just recently by the Union of Students because of the new schemes it had for loans. However, according to the Welfare Officer of the UCCSU they noticed that there are plenty of students who are trying to get loans from banks.

Share and Enjoy:
  • Print
  • Digg
  • Sphinn
  • Facebook
  • Mixx
  • Google Bookmarks
  • Blogplay

Related posts on loans for people with bad credit:

  1. Teens Should be Financially Literate Teens Should be Financially Literate The month April has been declared as the National Financial Literacy Month. The purpose of this is to educate teenagers to be financially literate. It is very important for your young teenagers to know about credit…...
  2. What You do Not Know About Student Loans What You do Not Know About Student Loans Education is believed by many to be the most important element to succeed in life. This is the stepping stone to get a high paying job and live a happy, carefree life until…...
  3. Effects of Banks Downgrades Effects of Banks Downgrades Last Thursday, the credit ratings of 15 of the largest banks in the world were downgraded. While the deposits are completely protected, the downgrades could negatively affect people in other ways, for instance, an increase in the…...
  4. Experian Launches Latest Extended View Credit Score Experian Launches Latest Extended View Credit Score Last Wednesday, one of the data collection and credit reporting agencies, Experian, introduced Extended View, which is its latest credit score. According to the agency, it could attract as much as 64 million US…...
  5. College Graduates in Danger of Not Getting Jobs Because of Student Debt College Graduates in Danger of Not Getting Jobs Because of Student Debt If you recently graduated from college, you more likely have a student debt of at least $25,000 and looking for a job. Those without a degree are instantly disqualified…...

Filed under: CreditCredit ScoreStudent Loans

Like this post? Subscribe to my RSS feed and get loads more!