bad credit affect spouse

nic74

Good morning,

My husband and i dont have a joint account if he was to apply for finance would my bad credit affect his application.

Many thanks

robber2

Your poor record will have no effect as long as you have no financial assoication with him this could inlcude utility accounts in joint names or a joint mortgage for example. Only way to be sure is for him to credit his credit history/record with, for example Noddle.

Rob

nic74

We do have council tax and water in joint names

not mortgage though.

Thankyou

GingerBob_3

nic74 wrote: »

We do have council tax and water in joint names

not mortgage though.

Thankyou

Council tax is not a problem; they don't report accounts to CRAs.


Water - be careful. Increasingly these rogue companies are reporting to the CRAs without consent and worse, they will often create an illegal financial association where no such association exists. You better check with the CRAs to ensure they are not holding a bogus association against you. If they are (as a result of the water company) you should report this malpractice to the ICO.

Superscrooge

If you husband wants to check for any financial associations. He can register for free with Noddle and Clearscore. He could then check for any financial associations on his call credit and equifax credit files

mrmagooooooo

GingerBob wrote: »

Water - be careful. Increasingly these rogue companies are reporting to the CRAs without consent and worse, they will often create an illegal financial association where no such association exists. You better check with the CRAs to ensure they are not holding a bogus association against you. If they are (as a result of the water company) you should report this malpractice to the ICO.

Bob please stop spouting nonsense to people. There is nothing Illegal about it and they are by no means rouge. If they do hold an association because of the water company it would be because the OP told them that, nothing bogus about it.

I understand you have your opinions about CRA's and clearly hold a grudge against them and any company that records data with them but again please stop making things up as it is not fair on people looking for advice and getting nonfactual information.

ashp_2

mrmagooooooo wrote: »

Bob please stop spouting nonsense to people. There is nothing Illegal about it and they are by no means rouge. If they do hold an association because of the water company it would be because the OP told them that, nothing bogus about it.

I understand you have your opinions about CRA's and clearly hold a grudge against them and any company that records data with them but again please stop making things up as it is not fair on people looking for advice and getting nonfactual information.

If a utility company has reported a financial association you can have it removed. That's a fact.

Examples of a financial associate:

A person you have a joint credit card with

A person you have a joint bank account with

A person you have a joint mortgage with

A person you have a joint CCJ with

A person you make a joint credit application with

Examples of who is not a financial association:

Someone you live with

Someone who used to live at your address, either with you or before you

Someone you have/had a utility account with (e.g. gas/electricity or phone bill)

A partner, spouse, or relative, if you live with them but do not share any credit accounts with them.

mrmagooooooo

ashp wrote: »

If a utility company has reported a financial association you can have it removed. That's a fact.

And im not disputing that. You can indeed remove it as like you stated it's not a credit agreement.

But Illega to report it to the CRA? No

jamie73

ashp

Your "Examples of a financial associate" includes the example: "A person you have a joint credit card with".

Martin Lewis says in the following article that joint credit cards don't exist:

MSE article "Credit scores - Bust myths and improve your score" says: "Don't let your partner or flatmate's score wreck yours!
It's not usually whether you kiss, hold hands, live together or even are married that links your finances, it's simply whether you have a joint financial product.
If you are financially linked to someone on any product, that means their files can be accessed and looked at as part of assessing whether to accept you. Even just a joint bills account with flatmates can mean you are co-scored.
Therefore if your partner/flatmate has a poor history, keep your finances rigidly separate, and it should maintain access to good credit for you.
There are currently only four products that can infer financial linking – a joint mortgage, a joint loan, a joint bank account (not savings as they don't go on credit files), and in certain circumstances, your energy bills. Being jointly named on a utility bill with a flatmate shouldn't mean you are financially linked – this should only happen when the energy firm is confident you're a couple (eg, when your bills are addressed "Mr and Mrs").
It's worth noting that while many people think they have a "joint" credit card, these technically don't exist. It's one person's account, the other just has a second card to access it."

I'm not sure financial companies do these things illegally, but I do think the industry needs stricter rules on what is or isn't allowed to be reported to CRA's.