Central Credit Register

Your Guide to The Central Credit Register

What is the Central Credit Register?

The Central Credit Register is a national database that will, on request, provide;

 

  • A borrower with an individual credit report detailing their credit agreements;
  • A lender with comprehensive information to help with credit assessments; and
  • The Central Bank with better insights into national trends in the provision of credit.

 

The Central Reporting Act 2013 requires us to process your personal and credit information for the Central Credit Register. For more information please read our Central Credit Register information sheet.

What types of loans are included on the Central Credit Register?

Loans included on the Central Credit Register are;

 

  • Credit cards
  • Mortgages
  • Overdrafts
  • Personal loans

 

Hire Purchase and Personal Contract Plans (PCPs) are not included now, but it is intended that they will be included in the future.

When will lenders start sending information to the Central Credit Register?

The project is in two phases.

 

Phase 1 begins on 30 June 2017. From then, organisations like banks, credit unions and any other lenders who provide consumer loans, will start giving details of these loans to the Central Credit Register.

 

Phase 2 is due to begin in March 2018. From then licensed moneylenders and local authorities will start giving loan details to the Central Credit Register.

 

During phase 2, details of business loans will also start being reported to the Central Credit Register.

What information will be held on the Central Credit Register?

The Central Credit Register will hold information about loans existing on 30 June 2017 and any new loans after that. From then, lenders will also send the Central Credit Register monthly updates on the status of loans.

 

This information will include the personal information outlined in our Central Credit Register information sheet.

 

Phase 2 is due to begin in March 2018. From then licensed moneylenders and local authorities will start giving loan details to the Central Credit Register.

 

More details of the full information held on the Central Credit Register can also be found on www.centralcreditregister.ie