How will insolvancy effect my husband to be?

Angel_Rachie

I am in the proccess of applying for insolvancy, but im getting married next year. Will this affect my husband to be's credit rating?

skylight

It will only affect him if you are linked financially in anyway. So a joint mortgage/bank account etc. You are not financially connected just because you live together or are married. When you are financially linked you will always appear on any credit search undertaken on him and the provider will make a risk assessment - being linked to a BR is not always detrimental but usually is.

Angel_Rachie

Thanks. We dont share a bank account as Natwest wouldn't allow it due to my bad credit score and just renting at the moment. How long will it be before we could get a bank account/mortgage together though?

skylight

Your BR will remain on your credit file for 6 years. The longer time passes the less it affects you; but some companies wont touch you until it drops off. So it will affect your OH for that period too if you become linked.

confused76

if you go bankrupt then your credit score will be damaged for 6 years. you will probably be able to get a basic bank account with the coop or barclays even while bankrupt, but the minute you get a joint account this will make a financial association and bring down your partner's credit score. you wouldn't be able to get a decent mortgage in the 6 years unless you have a massive deposit, you would need to hunt around. bankruptcy destroys your credit score for 6 years i'm afraid!