We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Help needed re: credit rating and renting
SamHD
Posts: 4 Newbie
Hi, wondered if anyone could help. We need to find a rental property as we've just been given notice to quit our current rental.
I work part time, and my income is pretty small. My husband earns a good wage, and he jointly owns a house which his ex pays for, but she pays sporadically, and his house is under a repossession order if she defaults on her payments one more time. It's anybody's guess how soon it will be before she defaults again (she has lived alone in the property for the last 12 years and pays the mortgage sporadically). Arrears have accumulated to 3,000 ish.
Obviously, CCJ's are very bad news when it comes to renting, not to mention the numerous missed payments. He is stuffed because the house is in joint names, so when she defaults, it goes on his file.
My question is, if we clear the arrears, and make up any shortfalls in her payments (though there is a risk she willl simply stop paying altogether when she finds out), how soon will this turn his credit around? Would it be worth it, or should we give up on the idea entirely? Also, he was on a debt management plan for four years, he paid this off last year..will it still show up?
We need to sort this out for future difficulty finding a house to rent.
Many thanks
I work part time, and my income is pretty small. My husband earns a good wage, and he jointly owns a house which his ex pays for, but she pays sporadically, and his house is under a repossession order if she defaults on her payments one more time. It's anybody's guess how soon it will be before she defaults again (she has lived alone in the property for the last 12 years and pays the mortgage sporadically). Arrears have accumulated to 3,000 ish.
Obviously, CCJ's are very bad news when it comes to renting, not to mention the numerous missed payments. He is stuffed because the house is in joint names, so when she defaults, it goes on his file.
My question is, if we clear the arrears, and make up any shortfalls in her payments (though there is a risk she willl simply stop paying altogether when she finds out), how soon will this turn his credit around? Would it be worth it, or should we give up on the idea entirely? Also, he was on a debt management plan for four years, he paid this off last year..will it still show up?
We need to sort this out for future difficulty finding a house to rent.
Many thanks
0
Comments
-
Rental credit checks only show up CCJs and bankruptcy, IVA. I.e. Public records. Not sure if those checks search financial associates.
Is your OH financially associated to the ex on their credit report?:beer:0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.7K Banking & Borrowing
- 253.4K Reduce Debt & Boost Income
- 454K Spending & Discounts
- 244.7K Work, Benefits & Business
- 600.2K Mortgages, Homes & Bills
- 177.3K Life & Family
- 258.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards