echodreamer
New member
@analogica These are automated systems. There isn’t somebody picking and choosing which DD to process and prioritise.
Loan repayment bounced, seeking recourse
- Thread starter analogica
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childoftheancientofdays
New member
@analogica It’s all going to be automated so I wouldn’t agree the argument is solid. At the end of the day you didn’t have enough money in your account to pay. Also, like another poster said, if you pay within a certain time frame, it won’t cause any impact
@analogica One bounced DD should not affect credit rating if you arrange to pay it now. I think you could argue if the bank prioritized its own repayment that would look worse and a bit of abuse. I suspect simple one was processed first and then the funds for other were not there. Best of luck with it but I wouldnt go thinking your credit rating is ruined
resjudicata
New member
@analogica This you?
mariamia613
New member
@analogica YOU didn’t have enough in YOUR bank account to pay YOUR debts.
YOU are to blame
YOU should accept responsibility and move on.
YOU are to blame
YOU should accept responsibility and move on.
resjudicata
New member
@analogica You've 1 DD coming out. This month, it was slightly higher than you expected and due to insufficient funds was bounced.
This is on you rather than the bank.
Don't be wasting their time with a complaint.
Even if the DD for the month was split in 2......you'd still be in the same position.
This is on you rather than the bank.
Don't be wasting their time with a complaint.
Even if the DD for the month was split in 2......you'd still be in the same position.
@analogica Just pay it straight away. It shouldn't impact your rating
@analogica Jesus christ, you're the reason people with legitimate grievances with banks can't get an answer to their queries if theyre wading through shite complaints like this every month.
It was your fault, fix it and move on
Also credit ratings do not exist in ireland
It was your fault, fix it and move on
Also credit ratings do not exist in ireland
dece870717
New member
@analogica I work in the complaints investigation dept of an Irish bank and sometimes encounter this complaint. There are a couple things to bear in mind.
First a missed payment only reports to the CCR if its owed for more than a few days so if you have made the repayment it shouldnt impact your CCR.
Second Ive heard secondhand that CCR doesnt show one missed payment only two or more but you might ask them yourself, check out www.centralcreditregister.ie.
Third banks sometimes agree to refund missed payment charges if you ask nicely so I'd recommend trying that. I dont necessarily agree to fees being charged each and every time something goes wrong but its a deterrent and it works.
Fourthly, youve asked why the bank didnt show preference for bank loan repayments over this other unspecified payment. Do you believe bank staff go in and manually process debit transactions one by one? This is all automated and if the bank were to somehow filter bank vs non bank transactions im sure people would complain their loan was paid but their rent wasnt, etc etc.
Fifthly, there is no credit score in Ireland and never has been.
Finally, use the tools the bank gives you to manage your finances better. This couldve been avoided and your post reeks of blaming the bank for your mistake. As I said above if you ask nicely they may refund the fee but this was 100% your fault and if you go in all guns blazing theyll fairly tell you no dice.
First a missed payment only reports to the CCR if its owed for more than a few days so if you have made the repayment it shouldnt impact your CCR.
Second Ive heard secondhand that CCR doesnt show one missed payment only two or more but you might ask them yourself, check out www.centralcreditregister.ie.
Third banks sometimes agree to refund missed payment charges if you ask nicely so I'd recommend trying that. I dont necessarily agree to fees being charged each and every time something goes wrong but its a deterrent and it works.
Fourthly, youve asked why the bank didnt show preference for bank loan repayments over this other unspecified payment. Do you believe bank staff go in and manually process debit transactions one by one? This is all automated and if the bank were to somehow filter bank vs non bank transactions im sure people would complain their loan was paid but their rent wasnt, etc etc.
Fifthly, there is no credit score in Ireland and never has been.
Finally, use the tools the bank gives you to manage your finances better. This couldve been avoided and your post reeks of blaming the bank for your mistake. As I said above if you ask nicely they may refund the fee but this was 100% your fault and if you go in all guns blazing theyll fairly tell you no dice.
pena150695
New member
@analogica One payment shouldn't affect the credit score use it as a learning curve and move on
@analogica It’s your fault and nobody else’s but it’s not beyond repair. Phone them on Tuesday and make payment over the phone with your debit card. Your credit rating should not be negatively impacted and you can request this in writing from them
@analogica One missed loan repayment by a few days Is not reported to the Central credit register it needs to be missing over 30 days. Once you rectify you take your slap on the wrist(missed DD charge) and don’t let it happen again the banks are not stupid they’ll know if you’re in college and they’ll also know if you can manage your finances or not if you were to look for funds in the future just don’t make this a habit and you don’t have a let to stand on regarding recourse ring up make payment don’t let it happen again.
@analogica Not going to help you now but a bit of advice.
I have an overdraft of 1000 euro, I never ever use it but it's saved my skin a few times when I've forgotten about a direct debit (I generally don't keep money in my current account and transfer into it a few days before I know a DD is about to come out).
It pretty much means I never miss any payments ever.
I have an overdraft of 1000 euro, I never ever use it but it's saved my skin a few times when I've forgotten about a direct debit (I generally don't keep money in my current account and transfer into it a few days before I know a DD is about to come out).
It pretty much means I never miss any payments ever.
@analogica While you do not *build* a credit rating - all loans report information such as balance, payments in arrears etc to the CCR (Central Credit Register). The old ICB used to have a grace of 1 missed repayment for credit reporting purposes (would show as perfect credit despite being in arrears) but the CCR records exact arrears values - although I am not sure if that is visible to financial institutions.
Unfortunately I dont think you have a case here - you made financial commitments and then were unable to meet them. If the smaller direct debit was due to an unexpected or unwarranted fee then you might have a case, but otherwise isnt much you can do.
I am a little surprised by the fee for missing a loan repayment, I know for a fact that some of the larger financial institutions have done away with Surcharge Interest / fees on unpaids for loans. Are you comfortable sharing which institution it was?
Unfortunately I dont think you have a case here - you made financial commitments and then were unable to meet them. If the smaller direct debit was due to an unexpected or unwarranted fee then you might have a case, but otherwise isnt much you can do.
I am a little surprised by the fee for missing a loan repayment, I know for a fact that some of the larger financial institutions have done away with Surcharge Interest / fees on unpaids for loans. Are you comfortable sharing which institution it was?
@blast0102 Sounds like a fee for the bounced direct debit rather than missing the loan itself, AIB still charge for this I think.
resjudicata
New member
@analogica Pay the loan now ASAP , it won’t get reported to the credit bureau until it’s gone 30 days unpaid, if that happens it’s very annoying to get sorted and I’m not sure they would reverse it either