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Does my credit affect the house

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Tini1212Tini1212 Forumite
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I have a very bad credit rating. I have a joint current account and a joint credit card with my husband. He is looking at taking a loan out to cover some bills as we are falling behind. Will my bad credit affect his application? He has been accepted for a credit card recently so i'm thinking it should be okay, but the fact we have two joint accounts worries me.
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  • edited 21 February at 9:56AM
    EmmiaEmmia Forumite
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    edited 21 February at 9:56AM
    If you're already struggling to pay the bills, do you have a plan to pay the loan/credit card and the bills once the arrears are sorted? 

    If you have joint accounts, then you are already financially linked together - but you can check this by looking at your credit file from any of the key providers - e.g.  Credit Karma, Experian (don't do that ridiculous boost thing) or Clearscore - the number scores they'll show you are meaningless, it's the entries within the report which are important.

    If you've never checked your file / not done it for a while then it's a good idea to do it, to ensure the information is accurate and there are no nasty surprises lurking.

    You might find heading over to the Debt Free Wannabe board helpful - lots of great advice over there.
  • sourcratessourcrates Forumite, Board Guide
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    Much better to tackle the debts using traditional methods that do not involve further borrowing.
    By taking out loans to pay existing bills, your just prolonging the inevitable, rather than tacking the actual problem.
    Advice to pop over to the Debt Free Wannabe Board is good, you should do so.
    I'm a Board Guide on the Debt-Free Wannabe, Credit File and Ratings, Bankruptcy And Living With It, boards. "I volunteer to help get your forum questions answered and keep the forum running smoothly".
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  • FarfetchFarfetch Forumite
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    If you can afford to pay off a monthly loan, you can afford to put the money towards fighting your debts, don't try and borrow your way out of debt
  • The_Real_Cheddar_BobThe_Real_Cheddar_Bob Forumite
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    How much debt do you have in comparison to your incomes? How likely is it you will continue to fall further behind? If the answer is likely, DFW forum the place to be. 
    kidmugsy wrote: »
    But never spend money you don't have to buy things you don't want to impress people you don't like.
    .
  • edited 21 February at 8:28PM
    EmmiaEmmia Forumite
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    edited 21 February at 8:28PM
    How much debt do you have in comparison to your incomes? How likely is it you will continue to fall further behind? If the answer is likely, DFW forum the place to be. 
    According to the other thread, debts are £50k income is £11k but the OP has two properties worth £340k combined that are mortgage free. 

    https://forums.moneysavingexpert.com/discussion/5996117/mortgage-on-low-income#latest

    The OP wants to sell a £100k property in order to purchase a £140k property for their brother.
  • edited 21 February at 8:50PM
    DCFC79DCFC79 Forumite
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    edited 21 February at 8:50PM
    OP I echo the advice already posted.
  • DCFC79DCFC79 Forumite
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    Emmia said:
    How much debt do you have in comparison to your incomes? How likely is it you will continue to fall further behind? If the answer is likely, DFW forum the place to be. 
    According to the other thread, debts are £50k income is £11k but the OP has two properties worth £340k combined that are mortgage free. 

    https://forums.moneysavingexpert.com/discussion/5996117/mortgage-on-low-income#latest

    The OP wants to sell a £100k property in order to purchase a £140k property for their brother.
    That is from 2019, maybe has shelved them plans.
  • EmmiaEmmia Forumite
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    DCFC79 said:
    Emmia said:
    How much debt do you have in comparison to your incomes? How likely is it you will continue to fall further behind? If the answer is likely, DFW forum the place to be. 
    According to the other thread, debts are £50k income is £11k but the OP has two properties worth £340k combined that are mortgage free. 

    https://forums.moneysavingexpert.com/discussion/5996117/mortgage-on-low-income#latest

    The OP wants to sell a £100k property in order to purchase a £140k property for their brother.
    That is from 2019, maybe has shelved them plans.
    Perhaps the OP could return to give us a reply to the questions?
  • Emmia said:
    - the number scores they'll show you are meaningless,
    Just stop with this absolute trash.
    The scores are *not* meaningless. They give you an indicated, based on your history, how likely you are to be accepted for credit.  No, it isn't guaranteed, but the idea that the scores is *meainginless* is absolute nonsense.
  • 2021BJ2021BJ Forumite
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    Emmia said:
    - the number scores they'll show you are meaningless,
    Just stop with this absolute trash.
    The scores are *not* meaningless. They give you an indicated, based on your history, how likely you are to be accepted for credit.  No, it isn't guaranteed, but the idea that the scores is *meainginless* is absolute nonsense.
    No, they don't.
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