Student saving

M.stretton

I’m not sure I’m entirely in the right place but I really need help. I’m a student, who’s working part time and for some reason I have poor credit score, even thought I’ve always paid things back on time. I don’t have a credit card. I live at home with with my father who has a very bad credit score and other family members have told me now to get detatchment from him and establish myself in my own right as this could help me. I have no idea how to do this though and I’d really like to sort my finances out before I attend uni. Any help would be great.
My apologies if this is posted in the wrong place.

agrinnall

Point 1 is that the credit score is a made up number which is of little relevance.


Poin 2 is that your father's credit record has nothing to do with yours, so you can ignore family members on that.



How old are you? If you are not yet 18 then I'm not sure that you even have a credit record. If you are over 18 then you can ask the CRAs for anything they hold on you to see what issues there are. Have you actually applied for credit in your own name?

Dobbibill

you will only have a financial link with your father if you have a joint account with him eg - a mortgage, current account, joint loan. Other than this you will not be financially linked.

check out your credit report (not score) free here https://www.moneysavingexpert.com/creditclub

take little/no notice of your score - that is only the opinion of the CRAs and CRAs are not lenders so any future applications will not be determined by their opinion.

welcome to the forum too

maxmayer

I had a similar situation. I could not even afford to take out a loan. As a student, I had very little money and had to earn money to pay for my needs. I tried to save money, all my free time worked, I didn’t even have time for homework, all the essay that I was asked to do were made to order. Now the situation has improved, I finished my studies and I have enough money to supporting myself. But I would like to know anyway, are there any restrictions for students in borrowing money? Who would not say, but when I tried to get it, I was disappointed