Financial Connection, should I be worried?

MrJester

My Noddle report states that I have a financial connection with me old flat mate. The last confirmed date is 18/05/2014. With Yorkshire Water, just the water bill for our old flat which ended approximately on that date ^

Is it a worry that it still appears on my credit report as a financial connection? I heard somewhere that it can be detrimental? E.g. if he has a bad credit history? That account is all paid off now so should I try get a credit report correction done?

Or am I worried for nothing?

Tixy

I would definitely file a notice of disassociation.

Yes if he has serious problems on his credit file this could well impact on your ability to get credit or the rates you get offered.

If you haven't done so I would also check experian and equifax to see if the financial association appears on those as well, and if it does again would file a diassociation.

MrJester

Tixy wrote: »

I would definitely file a notice of disassociation.

Yes if he has serious problems on his credit file this could well impact on your ability to get credit or the rates you get offered.

If you haven't done so I would also check experian and equifax to see if the financial association appears on those as well, and if it does again would file a diassociation.

Thank you. I will get started with this immediately. I had an Equifax trial, now ended, and don't remember seeing it. Might be worth doing an Experian statutory to check.

I will be filing a notice of correction because I cant be sure what his credit is like but I know that like me he had a credit card that was near its limits quite often. That x2 cant be good for either of us.

MrJester

Tixy wrote: »

I would definitely file a notice of disassociation.

Yes if he has serious problems on his credit file this could well impact on your ability to get credit or the rates you get offered.

If you haven't done so I would also check experian and equifax to see if the financial association appears on those as well, and if it does again would file a diassociation.

Is a notice of disassocation seperate from a notice of correction, by the way?

Tixy

Yes

A notice of correction is a statement you add to your credit file that a potential lender would see.

A notice of disassociation is you informing the credit reference agency that the financial link no longer exists, and asking them to remove the connection from your file, so that a potential lender would not see the connection at all.

Callcredit's form is here (I notice they actually call it a disassociation request form). http://www.callcredit.co.uk/media/53054/disassociation%20form.pdf

fermi

An example from callcredit.

Info on NOD http://www.callcredit.co.uk/consumer-solutions/help/how-to-issue-a-notice-of-disassociation

And form -> http://www.callcredit.co.uk/media/53054/disassociation%20form.pdf

Equivalent goes for Experian and Equifax.

MrJester

Tixy wrote: »

Yes

A notice of correction is a statement you add to your credit file that a potential lender would see.

A notice of disassociation is you informing the credit reference agency that the financial link no longer exists, and asking them to remove the connection from your file, so that a potential lender would not see the connection at all.

Callcredit's form is here (I notice they actually call it a disassociation request form). http://www.callcredit.co.uk/media/53054/disassociation%20form.pdf

fermi wrote: »

An example from callcredit.

Info on NOD http://www.callcredit.co.uk/consumer-solutions/help/how-to-issue-a-notice-of-disassociation

And form -> http://www.callcredit.co.uk/media/53054/disassociation%20form.pdf

Equivalent goes for Experian and Equifax.

Thank you both, good that I can get it removed completely. I assume that I should be able to submit to Experian and Equifax, a similar form, and declare that IF any such connection exists that it should be removed forthwith?

Experian_company_representative

Hi JoeJester,

JoeJester wrote: »

Thank you both, good that I can get it removed completely. I assume that I should be able to submit to Experian and Equifax, a similar form, and declare that IF any such connection exists that it should be removed forthwith?

You are correct, you can find our Financial connections questionnaire/disassociation form here

Hope this helps

Regards
James Jarvis

MrJester

Experian_company_representative wrote: »

Hi JoeJester,



You are correct, you can find our Financial connections questionnaire/disassociation form here

Hope this helps

Regards
James Jarvis

Thanks. Got a reply back within a day, they confirmed there's no connection on my Experian. Which I assumed there wasn't. Just appears to be on CallCredit/Noddle.

I've sent off the disassociation form to CallCredit, as well as disputed it via the Noddle site (there's a little Problem? link)
So hopefully will be removed by next months report. :T

MrJester

Just to update on this, received letter from CallCredit:

Thank you for your recent correspondence requesting financial disassociation from Mr

---

---

.

After investigation, we can confirm that we are now making arrangements for the disputed entry to be removed from your credit report. This will be completed within 14 days.

RESULT!

So glad that's being dealt with, should hopefully mean by 12th of October (next time credit report updates on Noddle) it shows this change, and my credit rating may improve from it (plus from other changes I have been making). :cool:

Experian_company_representative

Hi JoeJester

JoeJester wrote: »

Just to update on this, received letter from CallCredit:



RESULT!

So glad that's being dealt with, should hopefully mean by 12th of October (next time credit report updates on Noddle) it shows this change, and my credit rating may improve from it (plus from other changes I have been making). :cool:

That's great news :jbest of luck with your journey for building your credit rating.

Regards
James Jarvis