Financial Disassociation
marliepanda
Posts: 7,186 Forumite
Hello
I was hoping to get a quick bit of advice. I have a financial association on my account from 2012, just a joint utility bill with an ex. It closed in 2012, no balance.
1. I'm concerned that if say he went bankrupt or had CCJs that could negatively affect me, even after 5 years with no financial association. Is this possible?
2. I've inquired about getting a financial disassociation sorted on my Credit report. when I asked they said I had to file a dispute. Now, could this negatively affect my credit history if I have a dispute on there? I don't dispute that financial tie existed, I just want to say it doesnt exist anymore.
3. Will it drop off after 6 years anyway?
I was hoping to get a quick bit of advice. I have a financial association on my account from 2012, just a joint utility bill with an ex. It closed in 2012, no balance.
1. I'm concerned that if say he went bankrupt or had CCJs that could negatively affect me, even after 5 years with no financial association. Is this possible?
2. I've inquired about getting a financial disassociation sorted on my Credit report. when I asked they said I had to file a dispute. Now, could this negatively affect my credit history if I have a dispute on there? I don't dispute that financial tie existed, I just want to say it doesnt exist anymore.
3. Will it drop off after 6 years anyway?
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Comments
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You can have the association removed if you no longer have joint products. It won't impact you negatively, and you'd be wise to do so.
However, the account itself will remain on your file for the full 6 years.0 -
Thanks, got a mortgage app going through so I may wait until thats sorted and the file a disassociation with all three companies. Its not doing any harm at the moment (it seems) so I may not rock the boat until mortgage is sorted....0
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Hi marliepanda
Is it definitely a utility debt that has given you the financial association with your ex partner? The Experian website states ‘living together or having both your names on a utility bill does not make you financially associated.’ You can find the information here https://help.creditexpert.co.uk/help/sv635/Credit_report/financial_associations. Either way, if the debt has been paid off you should be able to be disassociated.
Susie
@natdebtlineWe work as money advisers for National Debtline and have specific permission from MSE to post to try to help those in debt. Read more information on National Debtline in MSE's Debt Problems: What to do and where to get help guide. If you find you're struggling with debt and need further help try our online advice tool My Money Steps0 -
National_Debtline wrote: »Hi marliepanda
Is it definitely a utility debt that has given you the financial association with your ex partner? The Experian website states ‘living together or having both your names on a utility bill does not make you financially associated.’ You can find the information here https://help.creditexpert.co.uk/help/sv635/Credit_report/financial_associations. Either way, if the debt has been paid off you should be able to be disassociated.
Susie
@natdebtline
This is how it appears:
Financial connections
NAME OF CONNECTION SOURCE LAST CONFIRMED
Mr X X XX British Gas - Electric 10/07/2011
Date confirmed 10/07/2011
It was also never a 'debt' it was just a joint account we had which was paid on time and closed down when we left the property with no balance outstanding.
Also I got my dates wrong, its over 6 years now, shouldn't this be gone, or is this something different?0 -
marliepanda wrote: »Thanks, got a mortgage app going through so I may wait until thats sorted and the file a disassociation with all three companies. Its not doing any harm at the moment (it seems) so I may not rock the boat until mortgage is sorted....
I would recommend you do it immediately and get it sorted. When you ask them to remove the financial association you will just need to fill in a form for them to review the information and decide if it should be removed. Nothing appears on your credit file by doing this and only two things can happen:
1. They accept it and the financial association disappears completely
2. They don't accept it and nothing changes on your credit file
So there is no risk and no reason not to do it.0 -
Okay done with MSE credit club for Experian and Noddle for CallCredit. whats the 'free' equifax version?0
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marliepanda wrote: »Okay done with MSE credit club for Experian and Noddle for CallCredit. whats the 'free' equifax version?
Clearscore0 -
National_Debtline wrote: »Hi marliepanda
Is it definitely a utility debt that has given you the financial association with your ex partner? The Experian website states ‘living together or having both your names on a utility bill does not make you financially associated.’ You can find the information here https://help.creditexpert.co.uk/help/sv635/Credit_report/financial_associations. Either way, if the debt has been paid off you should be able to be disassociated.
Susie
@natdebtlineClearscore
Thanks! It doesnt seem to appear on that one?0 -
Hi again marliepanda
Not all companies choose to report to all the credit reference agencies. That could explain why there is no financial association showing on Clearscore. Good news that you've applied for the disassociation with the other two agencies.
Susie
@natdebtlineWe work as money advisers for National Debtline and have specific permission from MSE to post to try to help those in debt. Read more information on National Debtline in MSE's Debt Problems: What to do and where to get help guide. If you find you're struggling with debt and need further help try our online advice tool My Money Steps0
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