IVA affecting my tenant?

LaJolla

Hi

I have an IVA and I'm renting out my property to a private tenant because I can no longer afford it - I'm living at my parents home. My credit rating is predictably poor since I nearly lost job and took a big salary cut but I had no idea my property would be black listed. Now my tenant claims she cannot get a credit card using this address. I didn't tell her I had an IVA. Can she find out? I don't really want to advertise it as I feel its a private matter which if I disclose may prevent me from renting my property causing me greater financial difficulty.

What advice can I offer her over this? If it were me I would contact the credit rating agency to clear my name and disassociate myself with whoever it may be that I am being mixed up with. I dont feel its fair for me to have to reveal my credit score in public...

Am I wrong?

timberflake

A property doesn't get black listed, its the individual that gets black listed.
Can I assume that as your renting your property you now have a buy to let mortgage??

devonshire

it is NEVER the property that gets blacklisted, bad credit is only attached to a person. it must be something to do with your tenants own personal credit history.
I would advise your tenant to have a look at their own credit report through experian as it is definitely something to do with them and NOT you.

davidgmmafan

I don't think a buy to let mortgage is needed, however there is usually a condition in the mortgage contract saying you must notify the bank.

"Now my tenant claims she cannot get a credit card using this address"

The advice given above is correct, the tenant hasn't a clue what they are talking about. Its far more likely to be the fact that they've not lived there long... Companies ask for previous addresses so it must be to with that persons credit history generally. If they will not accept this there are many places you can point them to online that will verify this info, Experian and Equifax to name but too, any bank or building society may have info to confirm this too.

Technically there is no such thing as bad credit, its just how the company views the info on your credit file. Clearly if it says bankrupt then not many people are going to lend and those that do will charge higher APR...