Why is the CCR needed?
The Government in Ireland gave a commitment, as part of the EU/IMF Programme of Financial Support, to develop a legal framework that would facilitate the collection and centralisation of credit information on borrowers. The CCR will contribute to consumer protection and financial stability by:
- Providing borrowers with an individual report detailing their credit agreements
- Providing lenders, such as Close Brothers Motor Finance, with comprehensive information to support credit assessments
- Providing the CBI with better insights into financial markets and supporting functions of the Central Bank of Ireland
Related questions
-
I’m not working, and I think this will affect my ability to pay, what should I do? -
I've missed a payment, what should I do? -
I'm going to miss my next payment, what should I do? -
I'm in financial difficulty and my agreement is due to expire soon, what should I do? -
What options might be available to me?