Is Husbands debt impacting my credit rating, complicated, mental health issues, help please

private45

Hello 
first post so please be kind. It’s a complicated situation but I’ll try and get the main points across. A year ago my husband had a mental breakdown and was sectioned for a period of time. During this time he was diagnosed as being bipolar as well as some other mental health issues. It also came to light that he was in significant debt, a mixture of gambling and compulsive purchases, holidays we never went on, etc. He is currently still under the crisis team and I’m unsure when he’ll be able to work again. With the help of his mental health team his debtors were sent a Debt Mental health evidence form and they have all been kind enough to accept a token payment and one even kindly wrote off the debt. 

Our marriage has been difficult for many years, but I do love and care for him and he is the father of my children. I work and care for them all as well as paying the bills, looking after the house. I am not in debt but have a car on lease that is due to end so will be looking at a new deal. I cannot manage without a car so suggesting I don’t have one isn’t possible and as hard as it sounds I won’t be responsible for his debts, my children and I have been through hell and back and I won’t put us through anything else. 

However after doing a soft search for a credit card it seems my credit has been affected by my husband’s debts. The only things we have in joint names are a bank account which he no longer has a card or access to and a water bill. Is it because of these financial associations that my credit is being impacted? I’m at my wits end, a rock and a hard place. If I leave him he will most definitely take his own life. I’m doing my very best.
thank you if you’ve managed to get this far.

[Deleted User]

Lenders may view his files when you make an application for credit, as you are financially associated.

You or he will need to check his files to see if there have been corresponding searches on his file.

Although financial associates are rarely the sole cause of a decline, you may want to disassociate yourselves by closing the joint account.

MinuteNoodles

Are you able to save money and do you have any savings? If so then I would be buying a car outright with what you have rather than getting another one on a lease and tying yourself to a 3-4 year deal. You don't have to go without a car but you don't really need to be spending several thousand to get a reliable one either. Cars have come on a long way over the last 30 years and even used cars £1000-£2000 can be very reliable and capable of doing high annual mileage - just try to find one with 2-3 owners and as much service history as you can get.

Fletcher86

As you have a joint bank account you will be financially associated with your husband on your credit files, the joint water bill may also be recorded on your files too depending on which water company it is.

In order to remove the financial association you will need to close the bank account, update the water account to remove his name and then request a notice of disassociation with the 3 credit reference agencies (Experian, Equifax and Transunion) to get the link removed.

That way when you apply for credit the lender won’t be looking at his file when making a decision on giving you credit.

KeepOnKnitting

@private45 You have good advice from others above about separating your finances.

From the perspective of mental health, put your own oxygen mask on first. Make sure you take time to look after yourself as well. I know it feels hard to put yourself first, but someone has to every now and then. Do something for you, even if it's just enjoying a coffee in the sunshine and getting the kids 10 minutes late from school. If your husband is still accessing the crisis team, they can also still offer you advice and support. You can ask for a carer's assessment that has to be done under the Care Act 2014  (https://www.rethink.org/advice-and-information/carers-hub/carers-assessment-under-the-care-act-2014/?gclid=CjwKCAjwi_b3BRAGEiwAemPNU75z-xo9pX5wCtC95MZWsIZokeeQCHaIu55rIRKppoYQY3c9mG0hBhoCn9gQAvD_BwE) that can look at support YOU can get to help you as a carer.

I will bookmark this thread, so feel free to ask me questions.

unlockmytv

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