Financial Associate Defaulted Account

ally1986

Hi there,

I'm after some advice on whether it's worth financially disassociating myself from my partner as he has a default on his credit file.

The default was from back in April 2015 (for £336), and since November 2015 we have had a joint account. I didn't realise until recently that he could be affecting my own credit file but seems that being financially associated to him hasn't negatively affected me so far as in that time I have been approved for a sole mortgage on a first home (the lender rejected a joint application for obvious reasons!) and then a remortgage with a different lender when my fixed rate came to an end.

Do you think it's worth the hassle closing the joint account now to financially disassociate myself from him? I'm just thinking that we are likely to want to move home in the next few years and I need to keep my credit file as squeaky clean as possible.

Any advice would be appreciated.

Many thanks

[Deleted User]

1 default from 2015 won't have much of a knock-on affect on you

National_Debtline

Hi Ally


Your partner's default (and related debt) is going to drop off his credit file 6 years after it was registered, so in 2021. Depending how soon you look to move the default may not even be showing any more. The older a default gets the less impact it is likely to have on a credit application.


Ultimately the choice is yours, and if you wanted to disassociate yourself it would be straight forward. As long as your joint account is not overdrawn you can have one name removed. Then contact each of the 3 credit reference agencies to disassociate yourself from your partner. They usually have a form they ask you to complete.


Best wishes


Susie
@natdebtline