Confusion over recorded full name 6 October 2021 at 1:27PM in Credit file & ratings 4 replies 201 views

DadsDown

I’m not sure if this is the correct forum, but it seemed the most appropriate so I apologise if it is not relevant. 

For sake of explanation I’m going to say my name is Brian David *****. This is my birth name and that recorded by my employer, but my given name (or name I am known by) is David. As a result various credit agreements and documents have the names reversed. I have recently attempted to apply for a consolidation loan as things are getting on top of me, but the recording of my name is causing issues - both relating to my credit file and indeed my actual identity. I have been advised to try and have all records updated to the same format, but where do I start? And what are the possible implications if I do?
It is clear that due to the number of accounts I may have to consider payment plans or similar so there will be some sort of contact in any case, but are there potential legal issues in changing records, albeit it is definitely me? 

I hope this makes sense. 

Any advice or pointers would be gratefully received. 

[Deleted User]

See what appears on your credit files. The various names should appear as aliases, which shouldn't cause any problems.

If there are entirely different files for the various IDs, that's a different matter and you'd need to ask the CRAs to bring them together. 

In the meantime, go to the DFW boards for advice on dealing with the debt. Consolidation loans are generally a terrible idea even if you can get one.

DadsDown

Thank you very much. 

All the credit is linked to me okay so maybe let sleeping dogs lie in that respect. 

cymruchris

If your levels of existing debt are fairly high - then that will likely be the issue rather than the name. If you owe let's say £10k - and you ask to borrow £10k - lenders will look at your affordability to repay £20k - as there's no guarantee you'll use the £10k to pay off the £10k. You could just splash it all out on a new car or kitchen - so they balance this into the risk of their decision making. If things are getting challenging, now's the time to address it before it gets worse. You might want to draw together a statement of affairs showing all of your regular monthly income and outgoings and share it in order to get advice on how you might make some dent in your existing debt. 

DadsDown

Having had a look around I have knocked the loan idea on the head and am starting to formulate other plans in an attempt to get out of the rut. 

I need to take some time to accurately assess all finances and spending, then I’ll get an SOA up and running. 

I think I read on here at one time that you should pay yourself first - I think that’s part of the problem and will be factored into the plan.