Bankruptcy, marriage and credit file question

davidgmmafan

Hi,


My bankruptcy drops of my credit file next year (hurrah!) and I had the good fortune to have someone who supported me through it. I married this wonderful person two weeks ago


Then I was thinking about credit file and name changes. I know we would be assessed together for mortgages and the like but I can't remember if two people living together at the same address would automatically be linked.


The concern is she has a couple of credit cards in her name which we use for emergencies only (and the occasional balance transfer if she is carrying a balance). Would updating the name cause there to be any adverse effect on my wife? Are they likely to cut her credit limit drastically or insist any balance is paid in full?


I have to be very careful how we proceed as we are hoping to buy a house and start a family, but I don't want to rush into anything that would jeopardise that.


Any and all advice appreciated. I know there is a credit file section too but I thought it was best to post here because it relates to bankruptcy; also to say to others I survived it. I am still here. Nobody died, in fact it was the best thing for me. Very liberating, I now feel I am on the greatest roll of my life and, if you find it is the best option for you, there is hope. You CAN start over.

debt_doctor

Hi,
You do not have a financial link with someone just because you live with them.
You will get a financial association with someone who you have joint borrowing with or a joint bank account with.
DD

davidgmmafan

Ah I was thinking more with the surname now being the same. Many years ago I noticed I had a financial association with my parents and that was the info I found at the time.

TheGardener

There should be no link simply because of a shared surname - its financial links that count - joint accounts etc.

MEM62

davidgmmafan wrote: »

Many years ago I noticed I had a financial association with my parents and that was the info I found at the time.

Not based on surname you didn't. You would only have a financial association if linked by certain financial products. Shared surnames and addresses do not create financial links.

Annisele

The OP shouldn't have had a financial link based on shared surname and address - but that does sometimes happen by mistake. I've no idea how common that is, but it did happen to me.

I have the same first initial as my Mum, and that caused confusion over which of us had taken out credit. Funnily enough she's rather older than me, but that didn't in itself prevent the problem. Once we noticed, the credit reference agencies were quick to fix it and deal with the financial dissassociation. So, it's not a major problem, but could be irritating if it turns up in the middle of trying to buy a house.

fed_up_and_stressed

Many moons ago to my horror when I was trying to apply for my first mortgage. I found out an association had been created between me and my brother in law even though i had no financial connection to him. (Nice guy but no way would i have anything to do with him financially). Easily enough rectified with a letter of financial disassociation though.

National_Debtline

Hi David/all

It used to be the case many moons ago that people simply living at the same address found themselves inadvertently connected to each other by the credit agencies. This anomaly should no longer occur but mistakes do happen, so it's worth checking one's file either side of changes in domestic circumstances and certainly in advance of any applications for credit.

Dennis
@natdebtline