I have debt but my husband doesn't. Will my debt effect his borrowing ability?

grovertg

I want to sort my personal debt out asap, it's in terrible shape. I have 2 CCJs worth 4k from the last two years and a credit card that is active with 3k on it. I can't see me applying for any credit in the near future, but my husband will be applying to port our mortgage next year when we move house and I am worried how it will effect that. I can't see the point of paying the CCJs off in full because they will still be on my credit file for another 4/5 years so shall I just make settlement offers? The husband is the only name on the house and the mortgage and we do have a dormant joint bank account that does not appear on my credit file. My husband does appear on my file under previous searches by  VERIFYMYAGE (KYC AVC UK LTD) with a generic identfication check, so we do appear linked in some way?

I just want to draw a line somehow under my debt in the best way for the beneift of porting the mortgage next year. Our LTV is going to be very low, about 20%.

Any advice appreciated. Btw I can see that one of the debts was sold to Hoist Finance and they have contacted me regarding making a settlement but I can't see who the other one belongs to.

simon_or

I used to be in a similar (but much worse on the bad credit side) situation a few years ago and from what my broker said I think it depends on the bank.

Some banks are ok to ignore the non borrowing partner's credit file while others will not if its for credit history reasons. These are just 2 banks but from what I can remember Halifax doesn't care but Accord does.

grovertg

simon_or said:

I used to be in a similar (but much worse on the bad credit side) situation a few years ago and from what my broker said I think it depends on the bank.

Some banks are ok to ignore the non borrowing partner's credit file while others will not if its for credit history reasons. These are just 2 banks but from what I can remember Halifax doesn't care but Accord does.

Thank you, it's Barclays. I am desperate to sort out my credit though anyway, I just want to do it in the most cost effective way too and I've no idea what that is.

welly_59

You can't part settle a ccj. It might drop off credit report but it can be enforced forever.

You don't want it enforced by a bailiff visiting your home

grovertg

welly_59 said:

You can't part settle a ccj. It might drop off credit report but it can be enforced forever.

You don't want it enforced by a bailiff visiting your home

The finance company that have enfored the CCJ messaged me offering a reduction in a settlement? I wouldn't be considering it otherwise.