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Removing a link between 2, (from joint bank acc) - Would these methods BOTH work ?
Galeeno
Posts: 295 Forumite
2 people are linked on their individual credit files due to having a few joint bank accounts (which have just £10 in them)
Their credit files both need the 'other' person removed,
The aim = to 'dislink' both people, on BOTH Credit files, so they are NOT LONGER linked.
(there is no other things on their credit files) - besides these joint bank
How many methods can be used to do this? What are the steps for this?
There are 2 below.
Method 1 - Closing the bank account completely (from both people)
Getting the forms from the bank, they both fill them, both sign them, return cards, show proof (driving licence etc), (after taking any cash out of course).
Method 2 - Removing 1 person from the joint bank account, leaving it a single bank account
So 1 person is kept with the account, the other person is removed (who doesn't need the account). But the account is kept running by person1.
, converting the joint bank account into a single bank account..
a Notice of Disassociation is then sent to all 3 Credit reference agencies,
that both people are NOT associated with the joint bank account
Queries:
i) Will method 1, 'and' method 2 remove the link between both these people, in months to come ? from all 3 Credit reference agencies?
ii) As far as removing the link between both people - then do methods 1 and 2 both do exactly the same thing? (obviously 2 has the acc still running)
iii) Do Both methods 1 + 2, need the Notice of Disassociation to be completed ? or only method 2 does ?
iiii) Any other steps to do?
iiiii) After the Notice of Disassociation have been sent, do the 3 CRA's write back to each person? to update them? or send any other letters to them ?
Their credit files both need the 'other' person removed,
The aim = to 'dislink' both people, on BOTH Credit files, so they are NOT LONGER linked.
(there is no other things on their credit files) - besides these joint bank
How many methods can be used to do this? What are the steps for this?
There are 2 below.
Method 1 - Closing the bank account completely (from both people)
Getting the forms from the bank, they both fill them, both sign them, return cards, show proof (driving licence etc), (after taking any cash out of course).
Method 2 - Removing 1 person from the joint bank account, leaving it a single bank account
So 1 person is kept with the account, the other person is removed (who doesn't need the account). But the account is kept running by person1.
, converting the joint bank account into a single bank account..
a Notice of Disassociation is then sent to all 3 Credit reference agencies,
that both people are NOT associated with the joint bank account
Queries:
i) Will method 1, 'and' method 2 remove the link between both these people, in months to come ? from all 3 Credit reference agencies?
ii) As far as removing the link between both people - then do methods 1 and 2 both do exactly the same thing? (obviously 2 has the acc still running)
iii) Do Both methods 1 + 2, need the Notice of Disassociation to be completed ? or only method 2 does ?
iiii) Any other steps to do?
iiiii) After the Notice of Disassociation have been sent, do the 3 CRA's write back to each person? to update them? or send any other letters to them ?
0
Comments
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YesQueries:
i) Will method 1, 'and' method 2 remove the link between both these people, in months to come ? from all 3 Credit reference agencies?
Yes both do the same, it's just a way to show the CRA that there is no association between the two of you financially.ii) As far as removing the link between both people - then do methods 1 and 2 both do exactly the same thing? (obviously 2 has the acc still running)
Yes, you'll remain associated unless you do.iii) Do Both methods 1 + 2, need the Notice of Disassociation to be completed ? or only method 2 does ?
Other than checking your files no.iiii) Any other steps to do?
They will write to whoever requested the disassociation.iiiii) After the Notice of Disassociation have been sent, do the 3 CRA's write back to each person? to update them? or send any other letters to them ?0 -
Lets assume the joint account is to be turned into a single account,
then do both parties have to do the Notice of Disassociation?
or only one can do it ?
if the joint account is to be turned into a single account, then who has to do the Notice of Disassociation ? both? or just the person 'removing' themselves from the bank account?
then again, they are both dissociating from each other, so it is confusing if the joint acc turns to single, who would be the one dissociating ? :huh:0 -
The disassociation is not the closing or removing of a joint party from a bank account. It's a link at the CRA that is created, often as a result of a joint account. Either one of you can request the disassociation.
What you have to show is that there is no financial association between the two of you for that link to be broken. Whilst there is a joint bank account / mortgage this will be difficult to prove.
How the open account would show on the file of the person who no longer has it is unknown I'd guess it would just show as settled for them assuming the account is not in debit in which case the bank may not allow the other person to come off.0 -
MoneySaverLog wrote: »What you have to show is that there is no financial association between the two of you for that link to be broken. Whilst there is a joint bank account / mortgage this will be difficult to prove.
.
There is no joint mortgage, it is just joint bank accounts, with almost £0 in.
is that fine? or it will still have to be proved ?
How can it be proved ?0 -
Just being generic, in that it is all joint financial products that affect the association marker.0
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