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Life after a DRO & business accounts
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Hi there,
It's now been a year since I have been discharged from my DRO. Since then I have gotten married, moved and become a qualified nurse. My husband owns several limited companies and would like for me to added as a director of them and to the business bank accounts.
However, just before getting married, our joint application for a personal account was rejected (obviously due to my poor credit).
My husband thinks the DRO on my credit file shouldn't be an issue if I am named as a director with a business that has a steady income they shouldn't refuse it. He believes we should apply for an account as this would build my credit score.
On the other hand, I don't think it's worth bothering with a traditional bank account and should move one of the business accounts to an online one instead so I can build my credit that way.
Can anyone advise?
TIA
It's now been a year since I have been discharged from my DRO. Since then I have gotten married, moved and become a qualified nurse. My husband owns several limited companies and would like for me to added as a director of them and to the business bank accounts.
However, just before getting married, our joint application for a personal account was rejected (obviously due to my poor credit).
My husband thinks the DRO on my credit file shouldn't be an issue if I am named as a director with a business that has a steady income they shouldn't refuse it. He believes we should apply for an account as this would build my credit score.
On the other hand, I don't think it's worth bothering with a traditional bank account and should move one of the business accounts to an online one instead so I can build my credit that way.
Can anyone advise?
TIA
0
Comments
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I think he's unwise to be thinking of a joint account with someone with a DRO on their file for the next 4 years.
If the issue is building your credit file, then a couple of products that you handle perfectly plus being on the electoral roll, and a stable address will soon sort things out.
You shouldn't have a problem getting some sort of bank account but it will be a fairly basic one.0 -
Re the business accounts, is this so you can help in the running of the business, or as an attempt to increase your credit score (I know it's a made up number)
If it's to help with the business maybe it won't be such a big issue to add you as a signatory (unless the company has an overdraft or similar, when they would look at personal guarantees)
The thing to note though, is that this wouldn't be reported to your credit files, as it's the debt/account of the company not you personally. Due to this it won't help with your credit worthiness
Basic bank accounts are much better than they were, they all come with a debit/cash card which works pretty much everywhere.Most have contactless, many support apple/Android pay. The only thing you don't get is overdraft and cheque book0
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