Removing Financial Associations

[Deleted User]

Hi,

Can Financial Associations be removed for closed accounts, even if you are still with the person it is linked with?

I.e. if someone has some old accounts with a bank where they had a joint account showing on their credit files but the account has long since closed, is it possible to get the Association removed?

Willing2Learn

According to TransUnion:

Who needs a notice of disassociation?
If you no longer have any joint financial arrangements with a third party, then you should apply to have the association removed from your credit file.
You may have separated from your partner with whom you had a joint mortgage. Maybe you no longer share a joint account but it’s still recorded on your credit report.

So, I *think* you can...

National_Debtline

Hi Gary


This is absolutely a scenario where you can file a notice of disassociation. Living with someone is not what creates the financial association. If the joint account has been closed, and there is nothing else in joint names, then the credit reference agencies will remove the association on request.


Best wishes


Susie
@natdebtline

[Deleted User]

National_Debtline wrote: »

Hi Gary


This is absolutely a scenario where you can file a notice of disassociation. Living with someone is not what creates the financial association. If the joint account has been closed, and there is nothing else in joint names, then the credit reference agencies will remove the association on request.


Best wishes


Susie
@natdebtline

Hi.

There are other accounts that are in Joint names that are currently live/active - it's just whether the ones that are closed down can be removed now that, leaving only the current/active ones on there.

welly_59

That’s not how it works. If there are any joint accounts still in place then the association stays.

I’ve just gone through this myself

[Deleted User]

That wasn’t my question.

I’m talking about old closed joint accounts

Carrot007

!!! wrote: »

That wasn’t my question.

I’m talking about old closed joint accounts

Disassociation only removes the conenction not the closed accounts.


This means if the associate has bad reports on one of their personal non jouint accounts it willnot bring down your history.


However with any live joint account still around this is not possible.


Also as above since (CLOSED) joint accounts are joint, they are only removed 6 years after closure.

You were a party to the account so It stays. Even if you only were a party to help.

welly_59

!!! wrote: »

That wasn’t my question.

I’m talking about old closed joint accounts

old joint accounts stay on your file, as they were part of your credit history. Doesnt matter if the joint person is no longer an associate either, as the account is what matters here

[Deleted User]

I’m not talking about the account entry in the accounts section.

I’m talking about the financial association listed under that section.

Will advise to contact Experian directly and ask as its only showing there and not on Equifax or Transunion

welly_59

As long as you have one joint account still open linked to that person, with that CRA, then they won’t remove it.

PRAISETHESUN

You should be able to remove the association for the old accounts that are closed, however closed accounts still appear on your credit files. This is somewhat of a moot point however as there are still active accounts, which will keep a financial connection until they are fully closed.