Partners Credit Score

RayUK

I was credit tarting (0% Cards) and through events in my life beyond my control, I have lost track of my credit card debts. So far I have managed to repay just above the minimum on all cards, but my current situation does not allow for that any longer.
I have talked to Citizens Advice and the Financial Ombudsman and contacting my CC companies and telling them seems to be the way forward.

[Deleted User]

What are the FOS going to do to help?

Speak to a debt charity like StepChange and get a SOA together and post it on the DFW board here

RayUK

The FOS were giving me advice, that's it at present.
What's the DFW board....? Also, I have tried StepChange and others, but as I'm self employed status, they don't want to deal with me.

Candyapple

RayUK wrote: »

We don't mind if my credit file is checked, as long as it doesn't affect her ability to get credit....

Sorry to be the bearer of bad news - but yes it will affect her ability to get credit.

As you are financially linked, you won't know which lenders will be checking your files as well as hers until after a hard search is done, so it's luck of the draw really.

[Deleted User]

Debt-Free Wannabe - https://forums.moneysavingexpert.com/forumdisplay.php?f=76

RayUK

I'm getting more and more worried now... I have a repayment on my biggest card coming up (£9000 debt, minimum repayment around £300) in a few days. I simply have not got the money for it, so I will default, surely in that case it is better to ring the bank and talk to them... right?

Willing2Learn

RayUK wrote: »

I'm getting more and more worried now... I have a repayment on my biggest card coming up (£9000 debt, minimum repayment around £300) in a few days. I simply have not got the money for it, so I will default, surely in that case it is better to ring the bank and talk to them... right?

If I were you, I would write to all your creditors, asking for the accounts to be frozen while you seek advice.
Sample letter - Hold action on your account


Next, I would head over to the Debt-free Wannabe sub-forum for advice, guidance and support. I would post up my Statement of Affairs (SOA) so that I would get the appropriate advice.


And don't worry. There are always options and solutions that will work.

BoGoF

Above advice is probably your best course of action as it seems that it is a matter of time before it all comes crashing down BUT it should come with the caveat that your credit history will be trashed.

It seems important to you that this does not affect your partner but as explained it potentially will. Are we to assume that your partner is unaware of your debt?

Willing2Learn

Something for you to read (from Experian):
6 things you didn't know about shared finances

One thing you could do is to take your name off of the one joint account that you have, so that it becomes a sole account in your partner's name only. If you do that, then there definitely won't be an impact on your partner's credit file (although they may have to file a Notice of Disassociation).

Candyapple

Is there an option where you can close your joint bank account?

That would be the only surefire way of guaranteeing that you defaulting on your debts will not affect your partner's ability to get credit.