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'Financially Linking'
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Posts: 241 Forumite
I understand being financially linked can be bad if one person has bad credit (such as defaults), to the effect that it will bring the other person down with them.
Would excessive debt be an issue? I have quite a few overdrafts, but want to add my friend onto my account.
They are happy to be financially linked to me, but will my high overdrafts and credit limits affect them in any way? We are not together and both list ourselves as single - other than this account, which will be maintained well, we would have no connection on any other product.
Also, how much help would it be to her credit history (she has virtually none). I know the account would go on my credit file with 'green 0's' for each month - does the same apply to her?
Thank you
Would excessive debt be an issue? I have quite a few overdrafts, but want to add my friend onto my account.
They are happy to be financially linked to me, but will my high overdrafts and credit limits affect them in any way? We are not together and both list ourselves as single - other than this account, which will be maintained well, we would have no connection on any other product.
Also, how much help would it be to her credit history (she has virtually none). I know the account would go on my credit file with 'green 0's' for each month - does the same apply to her?
Thank you
0
Comments
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I understand being financially linked can be bad if one person has bad credit (such as defaults), to the effect that it will bring the other person down with them.
Would excessive debt be an issue? I have quite a few overdrafts, but want to add my friend onto my account.
They are happy to be financially linked to me, but will my high overdrafts and credit limits affect them in any way? We are not together and both list ourselves as single - other than this account, which will be maintained well, we would have no connection on any other product.
Also, how much help would it be to her credit history (she has virtually none). I know the account would go on my credit file with 'green 0's' for each month - does the same apply to her?
Thank you
I guess try and see?
Just make sure she doesn't default whilst your financially linked!0 -
iAMaLONDONER wrote: »I guess try and see?
Just make sure she doesn't default whilst your financially linked!
Your reviving a lot of old threads....? :beer:0 -
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