Removing 1 person from Joint bank account? -How will it be OFF the Credit files ??

Karen_taris

Can you give the procedure, in a step by step process.

Eg, Get a form from the bank, to (Joint bank removal form)
your bank,

Both go to the branch and with this completed form?

then what ? how long does it take?

Questions:
and how long , for this joint account to be 'removed' from both our credit files?

and what is that Step/procedure you can do, to remove these footprints on your credit file ?

So Person1 + Person 2, Joint Bank account with: HSBC.

Person 1 wants to be removed.

When will Person 1's credit file be updated, to be removed from the joint account?

and what is the procedure they have to do, to have it closed ?

and what will person 2's credit file show, when updated (after it has been removed) ?

MoneySaverLog

You'll need to close the joint account.

Then file a notice of disassociation with the credit reference agencies.

Once that's actioned the link will be broken and you'll have individual files again

Karen_taris

MoneySaverLog wrote: »

You'll need to close the joint account.

Then file a notice of disassociation with the credit reference agencies.

Once that's actioned the link will be broken and you'll have individual files again

The account has to be open for the person who needs it.

Is 'closing' the joint account the same as, 'removing' one person from the joint account? - in terms of what will be on BOTH persons credit file ?

(In terms of from the 'person' who is being 'removed' from the bank account)- will 'removing' them from the joint bank account (with leaving it for the other person) = will the Link also be broken between then
?

(after a notice of disassociation that is)


In other words, what you say will remove the link

But if person 1 is removed from the joint account (via the forms at the bank)
- and the joint bank account is now a single bank account (in the other persons name)

and the notice of disassociation gets complete, then would that do the SAME THING as you say = the link will be broken?

ie, will it get the same result? (on the credit files, the link will be broken?)
by doing that method above in brown ?

MoneySaverLog

Depends if the bank mark it as such at the CRA they should and then it would do the same thing. Closing also indicates that the association has been broken.

Banks also report once a month so this is not going to be a overnight thing.

dalesrider

Process is going to vary from bank to bank. Some will be happy to take instruction from one party. Others will require both.
May also vary as to why you want to go from joint to sole.