Can you have someone removed from using your address for loans?

DesperateScousewife
DesperateScousewife Posts: 522 Forumite
in Credit file & ratings
I have a friend whose son has been taking out payday loans without her knowledge.
She found out and bailed him out to save the extortionate interest rates. The son isn’t working, he’s just finished a temporary job.

She’s just found out he’s been getting more loans which add to £900 so far with a 1200% interest :eek::eek::eek:

Friend has a business she runs from home, she has a triple platinum credit rating. Can she remove her son from using her address and therefore protect her rating? But most importantly stop him taking out these loans?

Hope this makes sense. TIA for any advice.
«1

Comments

  • sassy_one
    sassy_one Posts: 2,685 Forumite
    First Anniversary Name Dropper First Post
    No such thing as a "triple platinum" credit rating.

    No such thing as credit score either.

    Don't know why that was relevant for you to state; unless the son is using her details.

    Regardless, she doesn't have such a credit profile.
  • [Deleted User]
    [Deleted User] Posts: 35,242 Forumite
    First Anniversary Photogenic Name Dropper First Post
    His applications won't impact her credit file.
  • National_Debtline
    National_Debtline Posts: 7,998 Organisation Representative
    First Post First Anniversary Combo Breaker
    Hi there


    I can understand your friend's concern with the situation but you can reassure her that her credit file cannot be affected by someone taking out credit at her address. That's because credit files are based on people, not properties. The only way her son's debts could affect her would be if she had a financial connection with him. That means if they had a joint bank account or joint credit which would link their credit files.


    Unfortunately you can't stop another person taking out credit in their own name as that is their decision. Does her son live at the same address as her? If he does, he's not actually doing anything wrong by using that address. It might be worth trying to find out if there is any underlying reason that's causing him to borrow money, for example a gambling issue. You could point them in the direction of one of the free debt advice agencies for help on dealing with his debt situation.


    Best wishes


    Susie
    @natdebtline
    We work as money advisers for National Debtline and have specific permission from MSE to post to try to help those in debt. Read more information on National Debtline in MSE's Debt Problems: What to do and where to get help guide. If you find you're struggling with debt and need further help try our online advice tool My Money Steps
  • Willing2Learn
    Willing2Learn Posts: 6,294 Forumite
    First Anniversary Name Dropper First Post Photogenic
    edited 16 August 2018 at 2:04PM
    Hi,

    Sorry to say it, but your friend has to stop bailing him out. How is he going to learn to budget responsibly if she keeps baling him out? You could argue that it is time for him to move out and stand on his own two feet...Sink or swim time.


    Sorry if I sound harsh :)

    Edit: Maybe this could be considered 'irresponsible lending' by a PayDay company and your friend's son may find himself eligible for a refund of some sort...
    I work within the voluntary sector, supporting vulnerable people to rebuild their lives.

    I love my job

    :smiley:
  • D_M_E
    D_M_E Posts: 3,008 Forumite
    Name Dropper First Anniversary First Post
    Don't know if this would have any effect, but would he still be able to use her address if she removed him from the electoral roll at her address?

    Or paid for a CIFAS marker of some sort against him, would that stop the loans being granted?
  • [Deleted User]
    [Deleted User] Posts: 35,242 Forumite
    First Anniversary Photogenic Name Dropper First Post
    The ER won't stop him applying, and she doesn't have any right to register a CIFAS marker.
  • DesperateScousewife
    DesperateScousewife Posts: 522 Forumite
    Thanks for the replies. At least her mind is at rest regarding her own credit score.
    I!!!8217;ve told her it has to be a case of tough love and to see it through.
  • [Deleted User]
    [Deleted User] Posts: 0 Newbie
    You best tell her to stop looking at her credit score since no one uses it
  • macman
    macman Posts: 53,088 Forumite
    Name Dropper First Post First Anniversary
    It's assumed that he is 18 or over?
    No free lunch, and no free laptop ;)
  • DesperateScousewife
    DesperateScousewife Posts: 522 Forumite
    Yes he is 18.
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

Categories

  • All Categories
  • 343.1K Banking & Borrowing
  • 250.1K Reduce Debt & Boost Income
  • 449.7K Spending & Discounts
  • 235.2K Work, Benefits & Business
  • 607.9K Mortgages, Homes & Bills
  • 173K Life & Family
  • 247.8K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.9K Discuss & Feedback
  • 15.1K Coronavirus Support Boards