Most efficient way to settle debts

RAS

Hi, can we stand back a bit...

You or hubby need to see if you can find out a bit about that joint account, but if it's not on your credit record, hopefully the potential lenders can't see it either. 

If the house and mortgage are currently in hubbie's name, and you have no JOINT accounts, then your credit lapses should have no impact on his credit worthiness or re-mortgage.

So if he remortgages in his sole name, your debts are unlikely to be an issue.

Do go over to the mortgage board, ask some of the brokers there who help people and hopefully they can confirm. 

What may be wise however is to find out who that joint account was with and ask whether you need to close it or avoid the group of mortgage providers that bank belongs to, because they may have records of the link.

AR - arrangement to pay, damages your credit record longer than a default.

grovertg

Thank you! Yes, it's a dormant account, so we'll close it and take the small deposit in it out. I'll aslo post on the mortgage board. I really appreciate your advise.

Brie

Nothing further to add to the good advice already given.  Just wanted to say to grovertg that I wish you the best of luck getting things sorted ok.  It looks like you don't have very much debt compared to others and you're being sensible to sort it out well in advance of the remortgage.  Hope all goes well for you.

RAS

grovertg said:

Thank you! Yes, it's a dormant account, so we'll close it and take the small deposit in it out. I'll aslo post on the mortgage board. I really appreciate your advise.

Speak to the mortgage board first. If the dormant account doesn't show up on hubbie's credit record, it may be better left dormant. ASK.