Credit card companies will share more information about their customers with the Irish Credit Bureau in future, increasing the risk of damaging their credit records, according to The Sunday Times.
Currently, some companies such as MBNA disclose all their payments to the bureau while others report only when a customer fails to meet even a minimum payment.
The change has been impelled by a new EU directive on consumer credit, which is expected to become law in Ireland next month.
The tax-free status of the National Solidarity Bond is drawing flak because the government has introduced it while increasing taxes on bank deposits and slapping a stealth tax on other investment products, according to The Sunday Times.
Households who turned to the Money and Budgeting Advice Service (MABs) for help in February owed €53m to creditors – an average of €14,990 a household, The Sunday Times reports.
Around 83% of debt is owed to banks and credit unions and 47% of MABs
The light may be about to go out on the marketing campaign that has seen 300,000 households make the “the big switch” from the ESB to An Bord Gais for their electricity needs. As part of the move to open up the market in this country, the ESB has not been allowed to reduce its prices while Bord Gais and Airtricity have been offering discounts to get customers to sign with them. But this week the Commission for Energy Regulation (CER) will announce that the ESB will set its own prices from October, clearing the way for a new energy price war, the Sunday Times has reported.
Home owners are paying too much for home insurance, warns The Sunday Times.
The cost of rebuilding a home has fallen by up to nine per cent in Dublin, meaning the rebuilding cost on most home owners’ policies is too high, inflating their premiums.