Financial links?

Kier_2

Hullo. Edging closer to bankruptcy - just trying to get the cash for court fees and pluck up the courage - but have one big question remaining, that none of the advice charities - CAB, Payplan, even Shelter - seem to be able to answer.

My question - how does having a joint tenancy on a privately rented house affect the other, non-BR person?

My situation is that my ex-partner is still on my tenancy agreement, even though she moved out 6 months ago and now pays nothing towards the house. I don't want to end the tenancy and take out a new one in my name only because I'm worried I won't pass the credit checks and have to move out (I'm currently unemployed) - I know this is a possibility anyway during BR, but I'd rather take my chances.

Does a joint tenancy count as a "financial link"? Will my ex be contacted / investigated by the OR? Will her credit rating be affected if I don't take her name off the tenancy? There are no rent arrears on the house, and we have no other financial links - no joint accounts, bills etc all in my name only.

Any words of wisdom gratefully recieved.

Ta.

peb

UNlikely to effect anyone else - however your landlord may be advised by the OR of your bankruptcy and you should bear this in mind. You will also have to make it clear that there is only your income so that the OR does not expect your ex to contribute.

Kier_2

Ta Peb. I'm aware that my Landlord might be informed. But I figure it's better to take that chance, and try and pursuade them to let me stay if they are told. I'd have more chance than if I'd taken out a new tenancy and had to beg them to let me stay on once already when the credit checks came back with big red flashing lights on.

So it wouldn't affect her credit rating at all? I know if you have joint credit cards or accounts, that counts as a "financial link" and bad credit on the part of one person would also affect the other. Does the same apply for rental agreements?

Kier_2

Just to explain - it stands to reason it won't affect anyone else, but there is a section on the Court forms asking if anyone has financial interests in the houise I rent, including joint tenants, and their address etc. What is this for if not to get in touch with them etc?

PixiePie

Kier I think it's so the OR can check your half of the 'story' as it were and if you owe anything outstanding on a rental property and have someone that was a joint tenant they will then be responsible for paying the back rent, so the OR needs to contact them to tell them. My OR wrote to my landlord to check the rent I claimed I paid was indeed what I paid etc, so I guess it's similar to this, only if there are two or more people renting a place usually they all pay a share so the OR needs to check this.

If you are solely responsible for the rent and have no arrears I would note that down on the forms as then the OR might not have to contact your ex (I'm guessing if they are happy you are telling the truth through other means and not claiming someone else is paying anything that they have to check on they won't make work for themselves by contacting someone just for the sake of it).