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    • June118
    • By June118 19th Jun 17, 10:09 PM
    • 2Posts
    • 0Thanks
    June118
    Debt ping pong
    • #1
    • 19th Jun 17, 10:09 PM
    Debt ping pong 19th Jun 17 at 10:09 PM
    Help. My partner and I want to move in together but he has some debts which I'm worried will affect my credit rating. I work at home and my Ltd business is registered at my home address so it's really important to me that my credit isn't affected. It seems his debts have been passed from pillar to post. He has to keep signing new agreements for a monthly amount that will probably last until he dies!
    To make matters worse, one of his debts for about £3800, has been passed to a solicitors named Reston's who seem to have a ruthless reputation.
    I want to help him, but I'm out of my depth here. Any advice would be gratefully received.
    Thanks.
Page 1
    • sourcrates
    • By sourcrates 19th Jun 17, 10:14 PM
    • 11,590 Posts
    • 11,164 Thanks
    sourcrates
    • #2
    • 19th Jun 17, 10:14 PM
    • #2
    • 19th Jun 17, 10:14 PM
    Hi,

    Firstly his debts will have no effect on you whatsoever, debt stays with the individual, if it's not in your name, it's not your problem.

    Secondly you don't have a credit rating, it's just a made up number by the credit reference agencies.

    Thirdly he doesn't have to keep signing anything.

    Get him to contact one of the free debt charities in my signature for advice.
    Last edited by sourcrates; 19-06-2017 at 10:17 PM.
    I'm a Board Guide on the Debt-Free Wannabe, Credit File And Ratings, and
    Bankruptcy And Living With It, boards. I'm a volunteer to help the boards run smoothly, and I can move and merge posts there.
    Board guides are not moderators and don't read every post. If you spot an abusive or illegal post then please report it to forumteam@moneysavingexpert.com. Any views are mine and not the official line of MoneySavingExpert.com.

    For free debt advice, contact either : Stepchange, National Debtline, or, CAB.
    For Legal advice see : http://legalbeagles.info/
    • June118
    • By June118 20th Jun 17, 8:52 AM
    • 2 Posts
    • 0 Thanks
    June118
    • #3
    • 20th Jun 17, 8:52 AM
    Thank you.
    • #3
    • 20th Jun 17, 8:52 AM
    It's so worrying when you receive these letters. They feel quite menacing.
    • sourcrates
    • By sourcrates 20th Jun 17, 10:06 AM
    • 11,590 Posts
    • 11,164 Thanks
    sourcrates
    • #4
    • 20th Jun 17, 10:06 AM
    • #4
    • 20th Jun 17, 10:06 AM
    It's so worrying when you receive these letters. They feel quite menacing.
    Originally posted by June118
    They are utter rubbish seriously, carefully worded template letters specifically designed to get you to contact them.

    The absolute worst they can do is take you to court and you agree an affordable payment plan, where is the menace in that ?

    It's not something to get upset or worried about, it can be dealt with quite simply.
    I'm a Board Guide on the Debt-Free Wannabe, Credit File And Ratings, and
    Bankruptcy And Living With It, boards. I'm a volunteer to help the boards run smoothly, and I can move and merge posts there.
    Board guides are not moderators and don't read every post. If you spot an abusive or illegal post then please report it to forumteam@moneysavingexpert.com. Any views are mine and not the official line of MoneySavingExpert.com.

    For free debt advice, contact either : Stepchange, National Debtline, or, CAB.
    For Legal advice see : http://legalbeagles.info/
    • fatbelly
    • By fatbelly 20th Jun 17, 10:29 AM
    • 11,086 Posts
    • 8,270 Thanks
    fatbelly
    • #5
    • 20th Jun 17, 10:29 AM
    • #5
    • 20th Jun 17, 10:29 AM
    There's always a best strategy - he just needs to be motivated to find out what that is.

    The organisations in sourcrates' signature are all free, impartial sources of advice. he could contact one, two or all three of them.

    He could also post on here...
    • EssexHebridean
    • By EssexHebridean 20th Jun 17, 3:25 PM
    • 7,565 Posts
    • 39,417 Thanks
    EssexHebridean
    • #6
    • 20th Jun 17, 3:25 PM
    • #6
    • 20th Jun 17, 3:25 PM
    It's so worrying when you receive these letters. They feel quite menacing.
    Originally posted by June118
    They're designed to be. Quite rightly the majority of people ARE scared by threats of court action - we're brought up to believe that ending up in court is wrong, but sometimes in the case of someone in serious debt it can actually be the beginning of getting a situation resolved.

    Good advice already given above - one thing I will add is do NOT sign up to any joint financial products with your partner until his debts are gone from his record - this is how you end up financially linked to someone, not just because you live with them.
    MORTGAGE FREE 30/09/2016
    Sainsbugs 0% card: 22/12/16 £1229.00/£450.55 (14/08/17)
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