Name Change - Does it wipe debt?

tobias1184

Hi there,
I was wondering does changing my name effect my credit?
Will it give me a fresh start on my credit?

I have got bad credit history and im 23 years old! Its depressing even if i get out of debt i will never ever get credit again thats what im afraid of im 15,000GBP in debt roughly.

Is there any way i can just wipe it off without bankruptcy?

Changing name or paying money to start again?

is there anything like this?

Regards

bringmeshoes

you will not get a new credit history, if this was the case people would change their names every time they got bad credit!
i believe usually when you apply for any kind of credit on the credit check you have to declare any other names that you hav been known as

Riq

Wouldn't be much of a point to credit history if it could be wiped out by a simple name change.

Bismarck

if only.....

I'd happily be called Mickey Mouse if it helped my finances...not sure about getting a mortgage though.

**Amy**

:hello:

as others have said, im afriad its not that simple.

£15K in debt does not mean that you will never get credit again.

How about trying to either pay it off, or figure out payment plans etc. with CCCS or similar?

x

immoral_angeluk

Nope. Your maiden name will be linked to your 'new' name.

silvercar

Unless you can talk with a slight accent (to explain your lack of any credit history) and spell your name slightly differently!

tobias1184

Ok is there any people you could advise me to use in particular?

I would love to pay if off but lets say i pay it off how long is it going to take to repair my credit once its been paid?

I simple would prefer to know is banruptcy the easy option here?

Whats the benifits and the disadvantages?

Thanks for the replys so far

fermi

tobias1184 wrote: »

Ok is there any people you could advise me to use in particular?

Have a read through Martin's article.

Link: Debt Problems - Where to start, what to do, where to get help

If you really need it, then the debt advisers you should be speaking to are:

Martin_Lewis wrote:

For those in debt crisis (see definitions at the start) who are consistently struggling with debts and meeting repayments, free personal help is invaluable. Do it as quickly as possible, the longer you leave it the worse it gets.

The right people to go to

You need non-profit debt counselling help, in other words a one-on-one session with someone who is paid to help you, not to make money out of you. This is different to ‘free’: many commercial companies say they’re free as you’re not charged directly, but you’ll still pay somehow. The places I'd recommend are:

Consumer Credit Counselling Service - Website: CCCS Telephone: 0800 138 1111
National Debtline - Website: National Debtline Telephone: 0808 808 4000
Citizens Advice Bureau - Website: Citizens Advice or visit your local CAB centre (find nearest
Community Legal Advice - Website: Community Legal Advice Telephone: 0845 345 4 345

These counsellors use a variety of techniques, you may be put on a debt management plan, where they negotiate with your creditors. You may be recommended an IVA (Individual Voluntary Arrangement) or even bankruptcy (not as scary as it sounds). They will certainly show you how to prioritise the most important debts to enable you to keep food on the table and roof over your head.
Most importantly they're not judgmental, they're not there to tell you off, they're just there to help you sort out the problem. The sooner you talk to them the better. It may help you sleep at night.

Unfortunately they can be oversubscribed. If it takes time to get an appointment with them, use the info on their websites to start to plan. There may also be a local debt councillor in your area, such as Christians Against Poverty (not about religion even if it sounds like it) but ensure it is a non profit/Charity.

tobias1184

Thanks very much for this reply.

fermi

tobias1184 wrote: »

Thanks very much for this reply.

Please get some professional advice. Once you have that, the people here can help you through whatever route turns out to be best for you.

By the way, links in signatures are against the site rules (I have permission from the site owners for mine). It would be best for you to remove the link before the forum admins do it for you.;)