Blocking ability to credit.

johnsmclean

Hi,
maybe not correct forum but looking to see if I can block the ability of a close relative to borrow money (non-mortgage). The relative has minor learning difficulties and keeps borrowing money can't afford.

Is there away of getting block via a credit agency ?

Lives in Scotland.

Nebulous2

This is a long and complicated subject. Briefly and maybe somewhat oversimplified.

It come down to your relatives level of capacity. In other words, whether they are assessed as understanding the consequences of their actions. If they have capacity they can spend their money on whatever they like.

If they are assessed as not having capacity the most viable option would be getting appointed as a financial guardian. You then become responsible for their finances and have to keep an account of how you are managing their finances and report on it annually.

A starting point for some reading material.

mwarby

From my skim over the measures may not help the OP, as there seems to be no burden placed on lenders not to lend those with incapacity/learning difficultes

Perhaps CIFAS protective registration and a notice of correction on with the three CRAs would help with this, the protective registration means the lender should do more ID checks, the notice of correction supposedly has to be read, which means the application should be refferred to a human.

I could be wrong, but i suspect even doing all 3, might not stop some lenders lending(the more expensive ones most likely)

Nebulous2

mwarby wrote: »

From my skim over the measures may not help the OP, as there seems to be no burden placed on lenders not to lend those with incapacity/learning difficultes

Perhaps CIFAS protective registration and a notice of correction on with the three CRAs would help with this, the protective registration means the lender should do more ID checks, the notice of correction supposedly has to be read, which means the application should be refferred to a human.

I could be wrong, but i suspect even doing all 3, might not stop some lenders lending(the more expensive ones most likely)

As I said above it is a complicated subject. I doubt if a 'skim over' does you or the OP much good. Basically it doesn't stop a lender lending. It stops the person borrowing.