My Partner refused a loan because he is financially linked with me.. help!

Tiddlywinks

hollypop wrote: »

I dont want to close the joint bank account, as then we are stuck for who pay for what household bill wise. It works well the way it is now.

I think we will just have to come to terms with that neither of us can get credit untill my CCJ is removed.

You've got another year before the CCJ is paid off and then it will still be on your credit file for another 6 years - that means your OH may not be able to borrow from a mainstream source for 7 years. Is he happy with that prospect? It would cheese me off if I were him - particularly as the CCJ is of your making alone.

Why would it be so bad for you to close the joint account? I have been with my OH for 17 years and we have never had any isssues without a joint account - we just use common sense and trust when paying the bills and working out who pays what.

CLAPTON

hollypop wrote: »

if my partners own bank (who admit he has the perfect credit score) wont lend to him then i doubt anyone else will in that case!

I dont want to close the joint bank account, as then we are stuck for who pay for what household bill wise. It works well the way it is now.

I think we will just have to come to terms with that neither of us can get credit untill my CCJ is removed.

this is completely mad
to have trashed credit rating just to save a bit of budgeting seems most unwise.

Hollypop_2

Tiddlywinks wrote: »

You've got another year before the CCJ is paid off and then it will still be on your credit file for another 6 years - that means your OH may not be able to borrow from a mainstream source for 7 years. Is he happy with that prospect? It would cheese me off if I were him - particularly as the CCJ is of your making alone.

Why would it be so bad for you to close the joint account? I have been with my OH for 17 years and we have never had any isssues without a joint account - we just use common sense and trust when paying the bills and working out who pays what.

The CCJ is a year off been paid (then can get a certificate to prove it) but is showing as been removed from my credit file in 2013. (as it will be 6 years old. rather than been removed 6 years after been settled.

We wont be looking at a mortgage untill at least 2013 if not later! so shouldnt cause too much problem on that sence.

And yes i would be cheesed off, i am annoyed in myself now as we didnt know this would happen. I thought that if you apply for something in your own name they would only search you? and then if you apply jointly for something they search both?

We could close the account, although its just the hassle of putting everything into 1 name. I like it been in both names as its showing that we are both paying all the bills. (i thought this would look good to my creditors when building back up my credit file) rather than my bank accounts just showing i pay him my half of £x amount a month.

Im not sure how it all works but we get our credit reports from all 3 agencys every month so can keep an eye on everything.

I am not on this thead really to discuss my mishaps from 4/5 years ago, but i rest assure you when you look at my credit reports now everything i do have has been paid every single month for the last 3 1/2 years, no late payments nothing. (im not as stupid as i used to be!)

Thankyou for all your comments and feedback, at least i know there isnt now a company that will just search his credit report.

CLAPTON

paying off bills aren't shown on your credit files so it won't make any difference to your credit rating

mjm3346

andy.m wrote: »

The problem is that Hollypop is a girl, and girl's see a joint account as a concrete footing for an inexplicably linked future together.
It's like a financial engagement ring.

Should that be andy.g?

Tiddlywinks

andy.m wrote: »

The problem is that Hollypop is a girl, and girl's see a joint account as a concrete footing for an inexplicably linked future together.
It's like a financial engagement ring.

Andy - I find that a spoonful of sugar can sometimes take the bitter taste away. That or years of therapy - either way, move on, she probably has!

Svenena

CLAPTON wrote: »

paying off bills aren't shown on your credit files so it won't make any difference to your credit rating

My Virgin Media account is shown on my credit reports. I don't think it matters whether payment is coming from a sole or joint account though, as long as the account with the company being paid is in both names I presume it would show on both parties' reports? Mine is in my name only though, so this is just conjecture...

Tiddlywinks

Hollypop wrote: »

The CCJ is a year off been paid (then can get a certificate to prove it) but is showing as been removed from my credit file in 2013. (as it will be 6 years old. rather than been removed 6 years after been settled.

You've got 12 months to pay which takes you to 2012 and then a CCJ stays on your file for 6 years after it has been settled so that will take you to 2018!

Hollypop wrote: »

We could close the account, although its just the hassle of putting everything into 1 name. I like it been in both names as its showing that we are both paying all the bills. (i thought this would look good to my creditors when building back up my credit file) rather than my bank accounts just showing i pay him my half of £x amount a month.

Is this hassle more than the hassle of a trashed credit file for your OH for the next 7 years? No car loan, no credit cards (not just for the borrowing but for the deals, loyalty points, cashback) etc.

Also, what about credit checks of any future employers (some do them) or if you need to rent somewhere else?

Hax

CLAPTON wrote: »

paying off bills aren't shown on your credit files so it won't make any difference to your credit rating

Partly right - my British Gas electricity account shows on my credit record. But none of my other monthly bills do.

As Svenena said, it's the name(s) that the "service" account is in that is important, not the name of the bank account. The service provider doesn't care where the money comes from and you don't need a joint account to make payments to such services.

smnb08

Tiddlywinks wrote: »

You've got 12 months to pay which takes you to 2012 and then a CCJ stays on your file for 6 years after it has been settled so that will take you to 2018!

Tiddlywinks that is incorrect. a ccj stays on your credit file for six years from the date you recieve it not the date you pay it off.