Results 21,401-21,420 of 26,152 for speaker:Kieran O'Donnell
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Credit Reporting Bill 2012: Committee Stage (23 Oct 2013)
Kieran O'Donnell: I am sorry, I was trying to be polite.
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Credit Reporting Bill 2012: Committee Stage (23 Oct 2013)
Kieran O'Donnell: Yes.
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Credit Reporting Bill 2012: Committee Stage (23 Oct 2013)
Kieran O'Donnell: I was.
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Credit Reporting Bill 2012: Committee Stage (23 Oct 2013)
Kieran O'Donnell: I wish to offer two points on amendment No. 29. I understand Deputy Dooley is talking about how the rating or credit score would improve as the years advanced.
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Credit Reporting Bill 2012: Committee Stage (23 Oct 2013)
Kieran O'Donnell: That is the point.
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Credit Reporting Bill 2012: Committee Stage (23 Oct 2013)
Kieran O'Donnell: 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...
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Credit Reporting Bill 2012: Committee Stage (23 Oct 2013)
Kieran O'Donnell: Suppose I am the guarantor. According to the amendment, if a person acts as guarantor for a loan, it stays on the record "... until the end of the period of 5 years, beginning with the day on which the proposal is withdrawn or the arrangement terminated". My point is that typically one could have a loan for five years with somebody acting as guarantor, but even if the loan were paid back in...
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Credit Reporting Bill 2012: Committee Stage (23 Oct 2013)
Kieran O'Donnell: No. Under the original section 8 of the Bill as drafted-----
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Credit Reporting Bill 2012: Committee Stage (23 Oct 2013)
Kieran O'Donnell: Yes. Under that section, the data would stay on the system for a five-year period, either from the date the loan was taken out or, if the loan is over a longer time, for that period. If it was a four-year loan it would remain for five years; if it were for six, it would last for six. As drafted, however, amendment No. 29 will insert section 8(2)(a), which states that: "In the case of...
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Credit Reporting Bill 2012: Committee Stage (23 Oct 2013)
Kieran O'Donnell: The substance-----
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Credit Reporting Bill 2012: Committee Stage (23 Oct 2013)
Kieran O'Donnell: If they are paid off, why do they remain on the system for a further five years?
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Credit Reporting Bill 2012: Committee Stage (23 Oct 2013)
Kieran O'Donnell: My question is very simple. Why was this amendment included?
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Credit Reporting Bill 2012: Committee Stage (23 Oct 2013)
Kieran O'Donnell: Yes. It is an explanation.
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Credit Reporting Bill 2012: Committee Stage (23 Oct 2013)
Kieran O'Donnell: If one were to work out a credit scoring system which comes down as the years of the loan pass-----
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Credit Reporting Bill 2012: Committee Stage (23 Oct 2013)
Kieran O'Donnell: Before we move on, is it possible to speak on the section?
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Credit Reporting Bill 2012: Committee Stage (23 Oct 2013)
Kieran O'Donnell: To clarify, is it proposed to deal with the amendments and then go through the sections?
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Credit Reporting Bill 2012: Committee Stage (23 Oct 2013)
Kieran O'Donnell: I seek clarity on the interpretation section and the definition of the credit score, which is mentioned on line 24 of page 6 and states that credit score, "in relation to a credit information subject, means a numerical or alphanumerical value assigned to the credit information subject, on the basis of information ...". In layman's terms, the credit score refers to the risk rating attached to...
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Credit Reporting Bill 2012: Committee Stage (23 Oct 2013)
Kieran O'Donnell: The big issue for me is people's credit ratings. Currently, some people's credit ratings are adversely affected by their debts and this is like a millstone around their necks. For what period will this credit score be on record and when can a person get a clean bill of health in regard to their finances?
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Credit Reporting Bill 2012: Committee Stage (23 Oct 2013)
Kieran O'Donnell: Is that similar to the provisions for the Irish Credit Bureau?
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Credit Reporting Bill 2012: Committee Stage (23 Oct 2013)
Kieran O'Donnell: It is a relatively long period of time.