Joint account

chonty1982

Hiya,

So my partner and I have been living together for quite a while and have just got a joint account as I earn more than him and what we found was happening is I felt bad having more money so I paid for a lot more and ended up skint every month. This way we thought it was better we each put a certain amount each into the joint account we would make it fairer.

The problem is it didn't occur to me this would be a problem! But I haven't had the best credit at all and have a few defaults about 4+ years ago. Since then I've been really good trying to get myself sorted. And living with in my means for a change! When I check my credit file it looks ok apart from the defaults and the rating always comes up as 'fair' kinda middle ground. Although reading the forums I see the rating means little! Anyway HE has great credit. and an excellent rating. By us having opened this account have I just accidently screwed him over. Is it going to make a massive difference? I have always been open with him re my financial past.

Chantelle :-)

Tixy

It could make it harder for him to get accepted for new credit products, or the rate he may be offered by lenders.

Creditcalm

Were the defaults on your file settled? Might make a difference but if settled then less so.

They will be removed once they have been on default for 6 years regardless of whether or not settled.

Ask the lenders (nicely) if they would consider rremoving them. If small amount and settled they might. If not settled maybe try using it as leverage for settling, but don't hope for too much success (worth a try though)

LplateSaver

Yeah I read the doom and gloom reports about joint accounts as well but decided to go for it. I had 1 default. It hasn't affected his ability to get credit at all and it's improved mine by being linked.

chonty1982

Thanks for the replies.

I haven't satisfied the defaults but am paying them back monthly without fail. I will contact the lenders and see what can be done. I have got out of the habit of hiding and pretending nothing's happening!!