Kieran O'Donnell (Limerick City, Fine Gael) | Oireachtas source

Having the credit score reviewed on an annual basis is something to consider. I refer to section 8 of the initial draft legislation, which features in amendment No. 29. The proposal in the initial legislation was that a person would be on the system for a five-year period, from the date the credit agreement was put in place. It would apply in respect of guarantors for five years from the date liability was discharged. The Minister of State might give us the logic behind the amendment. There could be a situation where a family member stands guarantor for a son or daughter who sets up a business. The loan could be discharged but it would remain on the system for five years thereafter, with the guarantor liable to be impinged upon. Perhaps the credit scoring could do away with that.

The Minister of State might also explain something else. In the normal course of a normal loan, assuming there is no guarantor, does the five-year rule from the date of discharge apply, or does it extend from the date the loan is taken out?