Can my partner cause damage to my credit rating?

nightwatchman

She had run some debts on her credit cards and she missed several payments.
I did not knew what she was up to until I apply for a new credit card and to my surprise I was declined although I always was a gentleman with my payments.
I ask for an experian credit report and I find out about her debts.
She is back on track now and within the next two or three months she will be debt free.

Will her mistake have long lasting effect on our credit rating? We intend at some point to apply for a mortgage and I am concern that her mistake will have a negative effect on our application.

Any idea how long will take to repair the damage?
Is it something we can do to speed up the credit rate recovery?

Thanks in advance for any help.

Debt_Free_Chick

Do you have any joint loans or any other joint credit?

If "yes" then you are financially associated and effectively you have a "joint" credit record. So, yes ... her bad credit will be on your credit record.

If you are not financially associated, then her bad credit shouldn't be on your record at all.

nightwatchman

Thanks for the speedy reply Debt_Free_Chick.

No we do not have any joint loans or accounts. However we are married and live together so every card application she made was appear on my experian report.
We hope to apply for a joint mortgage in the future, do you recon that we should not do that and as an alternative me be the sole applicant?

Debt_Free_Chick

Do you have a joint bank account with an overdraft facility? A mortgage? (Perhaps you rent)?

If you are absolutely certain that you have no joint credit facilities - whether used (in debt) or not, then you can apply to the (click here) Credit Reference Agencies and ask to be disassociated from your wife.

More information here

Then, in the future, it might be better for you to apply for the mortgage in your name only - although it really depends what's on your wife's credit record at that time.

If the mortgage is in your name only, then the title (deeds) to the property will need to be in your name only, too.