Query re DMPs and joint mortgage

Coinmachine

I guess the only answer for this is for my wife to check her credit rating but grateful for a general view.

I have recently entered a DMP for credit card and account debts which are all in my name. The account was a joint account but there were no problems in putting it my name before the DMP started.

I do however have a mortgage in both my and my wifes name. Will this affect her credit rating ? I know mine will be completely junk due to the DMP but will hers be badly affected by this?

Luckily we have a mortgage which tracks the bank base rate so we are unlikely to want to chnage this even if rates start to rise next year as it will still be a very good deal.

I just wondered if she were to apply for a credit card in her name would my DMP affect that? This is all hypothetical as she has no intention of doing so but I just wondered what the effect is for her?

Tixy

guess the only answer for this is for my wife to check her credit rating

Your wife's credit report won't show anything in relation to your defaulted debts, but any potential lender she applies to credit for will see your credit file and any negatives on it. So it will impact on her ability to get credit.

If there is an account that used to be a joint account now in your DMP then it is worth her checking that this account is showing as closed on her credit files (from the date her name was removed from the account).

CLAPTON

your wife needs to check her credit files (rating means nothing) and see whether you are there as a financially associated person (you probably will as you have a joint mortgage)


probably, but not certainly, this will stop her getting any decent credit offers