Can I stop daughter getting credit while living with us?

philpye

I'm afraid that my daughter is running up a lot of debts, and has started missing payments on credit she's already got. Despite us trying to advise her and not lending her money I cannot stop her getting things on credit when she's out and about. I've been told that I could inform Credit Checking agencies that she no longer lives at home (even though she does) and that will prevent her getting any credit in the future. Can anyone say if this is true and how I would go about doing that?
Thanks
Phil

jamespir

no you cant as that would be fraud

Tixy

No, assuming she is an adult there is nothing at all you can do to prevent her from taking out more credit.
Until she is ready to tackle her debt issues there is nothing you can do and you will have to let her wreck her finances and credit file. When she is ready to tackle them suggest she contacts a debt advice charity, or comes on here for help.

Her debts won't affect your credit file, and you are obviously not legally responsble for her debts.

On the plus side if she has started missing payments then she soon find it very hard to get new credit such as store cards etc. On the negative that might push her into payday loans etc.

tallyhoh

I wish there was a simple way Phil, as a last resort whem my partner started running up credit bills I started opening his post & cutting up the credit cards therein (14 in 3 weeks).

Not much help I know but it was done in desperation.

Standingtall

philpye wrote: »

I'm afraid that my daughter is running up a lot of debts, and has started missing payments on credit she's already got. Despite us trying to advise her and not lending her money I cannot stop her getting things on credit when she's out and about. I've been told that I could inform Credit Checking agencies that she no longer lives at home (even though she does) and that will prevent her getting any credit in the future. Can anyone say if this is true and how I would go about doing that?
Thanks
Phil

I sympathise with you so much Philpye. My son recently discovered the joy of the overdraft button via his online banking. He works only part-time at a filling station. He is on minimum wage. Lloyds allowed him a £700 overdraft!!!

My elderly parents paid it off again due to him going beyond that amount and incurring bank charges. My father actually went to the bank where the 'advisor' assured my father that my son's credit rating was now poor so he would not be able to have an authorised overdraft again for a long time.

Two weeks later I have found a pile of letters in my son's room congratulating him on successfull acceptance for £350 overdraft. :mad:

I wish I hadn't looked at those letters as what you don't know doesn't hurt...

I only hope your daughter learns from the mistakes she is making now. I do not know what can be said to them to make them see sense.

[Deleted User]

Bottom line for all these people who live with you be they kids or spouses. If they dont stop doing it - KICK THEM OUT OF THE HOUSE !!!

Standingtall

[quote=[Deleted User];49353237]Bottom line for all these people who live with you be they kids or spouses. If they dont stop doing it - KICK THEM OUT OF THE HOUSE !!![/QUOTE]

Oh Paul, trust me, I have done this and he went to my poor elderly parents who are to soft with him! I am all for 'tough love' and feel this might teach him a lesson but it just causes stress for my parents who are old and frail. Absolute nightmare at times. It drives me crackers:mad:

I beg them not to listen to him and I spell out to them why I am doing it but still they open their arms (and their wallets):mad:

redrhyski

Tixy wrote: »

Her debts won't affect your credit file, and you are obviously not legally responsble for her debts.

Long time lurker, registered to correct this.

She can affect your credit file. My sister lived with me at my parents house and her data was on my file (same surnames naturally). I was refused credit due to her bad decisions.

You can go to the credit referral agencies (Experian etc) and print out forms to "financially divorce" yourself from her if she does turn up in your credit file. You will have to do this with each agency and a seperate form for each person.

When I got my file I was quite suprised how many people were in my credit file - people who bought my parent's house off them, previous occupants of my new house, plus all my family's credit history. I don't know if things have changed since I had to do it some 7 years ago but it's worth checking regardless.

Apart from that, good luck OP and I hope your daughter sees sense. Be strong, it's "only money".

Standingtall

You know what, that is true because when I last applied for a debt consol loan I was actually turned down after they asked me my relationship to my son (we have different surnames). In the long run that is a blessing but shows that all this stuff about the debt belonging to then person and not the household is a load of rubbish

Tixy

redrhyski wrote: »

Long time lurker, registered to correct this.

She can affect your credit file. My sister lived with me at my parents house and her data was on my file (same surnames naturally). I was refused credit due to her bad decisions.

You can go to the credit referral agencies (Experian etc) and print out forms to "financially divorce" yourself from her if she does turn up in your credit file. You will have to do this with each agency and a seperate form for each person.

When I got my file I was quite suprised how many people were in my credit file - people who bought my parent's house off them, previous occupants of my new house, plus all my family's credit history. I don't know if things have changed since I had to do it some 7 years ago but it's worth checking regardless.

Things are very different now, it used to be any credit at the same address was visible, but this is no longer the case. Now the only way other people's credit can affect you is if a financial association exists - that is that you have, or have had in the past joint credit with a person, eg a mortgage or loan or current account. Even then their credit accounts do not appear on your file, its just a note that you are financially associated.

Philpye - my advice is correct. Providing you have had no joint accounts with your daughter she won't affect your ability to get credit.