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partners credit affected?
barrymat
Posts: 50 Forumite
My partner is looking to lease a new car. Her credit rating is excellent, however mine is not, due to ccjs and defaults. We are linked by a joint basic bank account which we use to pay our rent. This is managed very well and we have never gone overdrawn etc.
Will my bad credit rating affect her ability to get this lease. All of my debts are in my name only and we have no debts in our joint names.
She has had no problems in the past obtaining credit such as phone contracts etc.
Thanks for the help.
Will my bad credit rating affect her ability to get this lease. All of my debts are in my name only and we have no debts in our joint names.
She has had no problems in the past obtaining credit such as phone contracts etc.
Thanks for the help.
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Comments
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Do you have any shared bank accounts?0
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You're financially associated via the bank account, so yes, this will impact on a lender's view of her.0
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I also read somewhere that if my debts were incurred before we opened our joint account then these wouldn't affect her. Is this true?0
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No. .0
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It all depends on the place where she is trying to get the lease. If her credit is good and yours is not and you file for the lease together it could affect her. However, if you are not trying to be on the lease and the only thing you have together is a checking account than she might be ok. Again I think it all depends. Maybe she could get a secondary checking account in just her name if they are worried about you having a joint account. Ask the bank or leasing company. They should be able to help you with this. Good luck.0
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She does have a current account of her own. Our joint account is solely for rent and bills.0
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And to clarify the lease is for her only I would not be involved.
If it is going to be a problem it may be easier to change our joint account into a single one so we have no financial link.
Thanks for all the advice so far.0 -
Some basic bank accounts don't report to CRA's, so there'd be no financial link. Have you checked your report to see if you have any "financial associates"?Credit 'Score' - Don't buy the credit 'score' that Experian, Equifax and Noddle want to sell you. It's an arbitrary number that means nothing when it comes to applying for credit.
ALWAYS HAVE A DIRECT DEBIT SET UP FOR THE MINIMUM PAYMENT ON YOUR CREDIT CARDS, REGARDLESS OF WHETHER YOU PLAN TO LOGIN AND PAY EACH MONTH.0 -
I have checked and it shows up as a financial association, and when I click onto it it mentions our basic bank account.
How much of an overall impact will this have on her application. Will it be a flat out refusal even though her rating is excellent or is it dependent on the company?0 -
Just an update really closing this thread. Partners finance went through fine no probs.
Thanks for all the advice0
This discussion has been closed.
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