new search recorded against me for wifes credit!!!!

[mgfboy]

I had a email from Experian saying I had a new search marked against, I thought it was for the new mobile I got for my daughter but it wasn't.

My wife is getting a car on toyota finance ( in her name only)and they decided to search me as well, I know we are financially linked, but does this mean everytime she has a search against her I will get a search against me as well?????

[oscar]

Re: new search recorded against me for wifes credit!!!!

As far as I am aware - yes.

There wouldnt be much point in having the link otherwise.

[Never-In-Doubt]

Re: new search recorded against me for wifes credit!!!!

Read page 20 of this ---> http://www.experian.co.uk/downloads/.../YCREJul08.pdf

That explains it all mate.

A financial associate search will be shown on your report when someone you are
financially linked to has made a credit application and your credit report has been seen
by a lender as a result.

It does not mean that you have made a credit application, or that the application was
for joint finances. The record will show that your information was used because you are
financially linked to the person who applied.

[PlanB]

Re: new search recorded against me for wifes credit!!!!

Under what circumstances can you get 'disassociated' or unlinked please? Would one have to wait for divorce and be able to provide evidence of this?

[Never-In-Doubt]

Re: new search recorded against me for wifes credit!!!!

Under what circumstances can you get 'disassociated' or unlinked please? Would one have to wait for divorce and be able to provide evidence of this?

Its when the original creditor of one of the old accounts notifies the CRA that the link has ended and/or closure of the account.

Basically, if you're in debt with a joint account or similar the link remains for the 6yrs default period - after this, you can then apply for a disassociation if you're no longer together.

If not in debt, then close any open accounts and then disassociate - simple process really.

[mgfboy]

Re: new search recorded against me for wifes credit!!!!

Read page 20 of this ---> http://www.experian.co.uk/downloads/.../YCREJul08.pdf

That explains it all mate.

Just goes to show that they still gave her car finance, so there is hope in the world!!!!

[Talay]

Re: new search recorded against me for wifes credit!!!!

So how do you become linked ?

Would an in credit joint account with no credit facility do this ?

Or does it require some joint borrowing ?

[Wishfull]

Re: new search recorded against me for wifes credit!!!!

im linked via my mortgage i think any account in joint names weather in credit or default will be shown

[CleverClogs (RIP)]

Re: new search recorded against me for wifes credit!!!!

As far as I am aware - yes.

There wouldnt be much point in having the link otherwise.

So much for the Married Women's Property Act 1882 - link - then... Isn't it good to know that The City has rightly rejected all the feminist nonsense that has bedevilled the rest of the UK?

[Lakeside1]

Re: new search recorded against me for wifes credit!!!!

Out of interest, if a Financial Associate search is carried out on your file and you subsequently become disassociated from that person - shouldn't the Financial Associate search also drop off?

[Never-In-Doubt]

Re: new search recorded against me for wifes credit!!!!

Out of interest, if a Financial Associate search is carried out on your file and you subsequently become disassociated from that person - shouldn't the Financial Associate search also drop off?

it would only come off after the 1yr period (2yrs with call credit) as at the time you made the application it would have been a link. Thing is you can't just 'de-link' - it's not that easy! Basically you need to prove that there is no open/active accounts and that you're financially separate. Thing is any defaults or old linked accounts will remain until 6+ years since last activity regardless of the association.

Its weird to explain but try and consider the association as being live whenever there is a live or defaulted account regardless of whether you split. If you settle the accounts so they become settled on the CRA, after they disassociate you the entries would remain on your sole files for the usual period of 6yrs from settlement date.

Make sense?