Parents ruined my credit score

LouFace

Firstly, sorry if this in the wrong place, I wasn't sure where to put it.

When I was 14 my parents filed for bankruptcy. As you know, a person who has been declared bankrupt is not allowed a bank account for a certain amount of years, so my parents asked me if I could open an account which they could use to have their benefits put into and pay their bills out of.

Being a 14 year old child I just said 'sure' and opened an account for them. I grew up, and moved out, and completely forgot that my parents had all their bills and a bank account in my name.

My parents are useless with money, always missing bills; and have taken out more provident loans than I can count.

I had some trouble with credit card payments in the past, but nothing major for years, my credit score should be ok now, but I still find myself being rejected for phone contracts, new bank accounts, store cards...I basically can't get anything that requires a credit ratings check.

It hadn't occurred to me until now that perhaps my parents had run my credit score into the ground, and now it has occurred to me; I have no idea how I am supposed to fix years of debt in my name.

Justicia

Get your data (£2) from Experian, CallCredit (use Noddle, as free) and Equifax NOW, as a starting point.

Irn-Bru-Kid

LouFace wrote: »

Firstly, sorry if this in the wrong place, I wasn't sure where to put it.

When I was 14 my parents filed for bankruptcy. As you know, a person who has been declared bankrupt is not allowed a bank account for a certain amount of years, so my parents asked me if I could open an account which they could use to have their benefits put into and pay their bills out of.

Being a 14 year old child I just said 'sure' and opened an account for them. I grew up, and moved out, and completely forgot that my parents had all their bills and a bank account in my name.

My parents are useless with money, always missing bills; and have taken out more provident loans than I can count.

I had some trouble with credit card payments in the past, but nothing major for years, my credit score should be ok now, but I still find myself being rejected for phone contracts, new bank accounts, store cards...I basically can't get anything that requires a credit ratings check.

It hadn't occurred to me until now that perhaps my parents had run my credit score into the ground, and now it has occurred to me; I have no idea how I am supposed to fix years of debt in my name.

Have your parents taken out credit agreements in your name?

Did the account that you opened for them have credit facilities i.e. overdraft?

I think I am right in saying that your parents debts will not affect you in anyway, unless they have taken it out in your name.

Someone more experienced in these matters will be able to put you right

LouFace

Irn-Bru-Kid wrote: »

Have your parents taken out credit agreements in your name?

Did the account that you opened for them have credit facilities i.e. overdraft?

I think I am right in saying that your parents debts will not affect you in anyway, unless they have taken it out in your name.

Someone more experienced in these matters will be able to put you right

I can't remember if they had an overdraft, but I'm guessing they did. I know they had at least one mobile phone contract in my name.

RAS

Every single account in your name that they are abusing is wrecking your credit record.

They have no need for an account in your name even as bankrupts. There were at least three banks that offered basic accounts to bankrupts; currently only barclays and the Co-op do it.

You need to go to the bank, explain what has happened and try and close the account ASAP.

You may also need to talk to CIFAS about putting a fraud warnign on your record. I just hope that the bank does not put one of because you have faciltiated fraudulent accounts.

DCFC79

If your parents are useless with money can you not teach them the basics eg stick to a budget, dont spend what you dont have/only spend what you can afford etc.

Petlamb

If they have opened anything without you present and signing off either physically or verbally that is fraud...

Regardless though, they never had a need to do this, as RAS says. The co-op and Barclays at least guarantee basic accounts to those declared bankrupt.

I hope you can resolve the matter, and that your parents will stop abusing your credit!

LouFace

Any way of fixing it *without* getting my parents thrown in prison for fraud?

Or getting me in trouble for 'faciltiated fraudulent accounts.'

RAS

Well

One small issue is that as undischarged bankrupts they would not be allowed anythign other than a basic bank account.

You really do need to start by getting your credit records and locating all accounts taken out in your name without your consent.

The sisue of the bank account in your name, to which you did consent merely involves closing the account or stopping them being signatories. That account does not appear to be fraudulent. What their official receiver would say though........... mind you it may be water under bridge.

Petlamb

That and have a really, really frank discussion with them - if that's possible.

Good luck x

Naf

LouFace wrote: »

Any way of fixing it *without* getting my parents thrown in prison for fraud?

Or getting me in trouble for 'faciltiated fraudulent accounts.'

From what you have said that have had a bank account and a phone contract in your name - did you open both of these for them? Assuming you opened the accounts in your own name, and handed them across happy for them to use the facilities then there is no fraud. If, however, they have opened further accounts in your name, added credit facilities on the existing accounts or on any other way assumed your identity in dealing with these things, then they have committed fraud, but I don't believe even this would immediately implicate you in facilitating them.

You first need to find exactly what is causing your declines. As above get all three credit reports, work out what account listed is which, and see how their histories stack up. It's not worth going and accusing them if it turns out to be your late payments that have ause it. Or worse, someone else's fraud!
Also maybe worth getting your CIFAS record, I'd something they have done has flagged up a fraud marker against you.