Joint account after bankruptcy

lukeylamps

I was discharged from bankruptcy two years ago and have now cleared up my credit file. There is no financial link between my wife and I and she has an excellent credit rating. She has a bank account in her name only that is used for all household expenses and into which I transfer my salary. She is keen to make this a joint account but I have told her that we can't as this would mean we are linked financially and her credit rating would be affected. She works for one of the big high street banks and various people she works with have told her it won't be a problem. I would be grateful for advice on this.

fermi

It would create a financial association yes.

Meaning that when the other person applies for credit, the lender will see the association and may look at your report/info when deciding on the application.

It doesn't automatically give the associate a bad credit record, but the lender can take the other person's into account if they wish. Some will. Some won't. Some may depending on circumstances.

If in doubt, avoid creating such a link while the BR is on your report.

sniggings

it's my understanding you are correct.

lindsaygalaxy

We have avoided joint accounts because of my Br (4 years DC). Will be waiting for the 6 years.

afly

It's a nice gesture on your wifes part but I would stay as is unless there is a serious reason to.

Why risk it?