mbna and interest payments

[oscar]

Re: mbna and interest payments

mgboy, just to clear this up - I cant see it mentioned above an apologies if it is. Do you have any JOINT accounts with your wife - a bank account, a mortgage (this is usually the one) or anything else. Being an authorised user doesnt count. It would need to be a joint application.

As for MBNA, they will state you have nothing to do with your wifes account, linked or not. They also have a habit of bumping up (in some cases more than double) the interest rate.

[mgfboy]

Re: mbna and interest payments

my wife is in partnership and they sometimes have to borrow money and on the commercial side they will over look my situation , but if she starts getting defaults etc she may get kicked out.

we do have a joint mortgage.

[oscar]

Re: mbna and interest payments

Ok, so you have a definite financial association.

My personal view, from your last post would be to avoid UE - the reason being you indicate that it could affect your wifes employment, as her file, apart from the association is intact.

NID my advise otherwise though.

[Never-In-Doubt]

Re: mbna and interest payments

I agree with Oscar Tango Bravo - for what it is worth i'd look to try and manage things better via DMP or similar.......

[mgfboy]

Re: mbna and interest payments

still think it's unfair to link apart from where there is a noted joint liability and then only on thoses accounts.

It's my understanding is that i have no actually liabilility for my wifes personal loans or her mine. If I had a DMP my understand is I wouldn't have to declare her income and she doesn't have to pay my debts and I not hers.

So surely under data protection laws , they should only see a persons own/ joint debts and nothing else. If they can it basically wrong!!!

[Never-In-Doubt]

Re: mbna and interest payments

You have a joint mortgage = you are linked in the biggest way possible and say you went BR then it would indeed affect the wife, and vice versa so you're surely mistaken....

If you are/have been married or ‘financially linked’ to another person for any other reason that entails sharing a joint account or making a joint application, there is something else you need to be aware of. The details of the person(s) you are financially connected to, the name of the organisation which created the link and the date the link was created will appear on your credit report. This means that any application you make may be assessed with reference to these “associated” records.

The financial information about any associates will not appear on your credit report, so they will need to apply for their credit report separately. So although you're linked, you cannot see each others credit on each others report - the exception to this is a joint account such as a mortgage. Lets say you have a £10k loan you do a bunk on - they would then go for formal action if you own a house and could add a charge - ultimately resulting in forced BR - that would affect your wife, of course it would.....

Read this: ---> http://www.thecreditagency.co.uk/credit ... ation.html

[mgfboy]

Re: mbna and interest payments

in your example i agree with you thought process, but the statement does sort of contradict earlier statements.

For example all the joint accounts I have with my wife are fine and in order, so if you say they cant see the rest of my records why would my adverse effect my wife? Unless although they can't see my actual record that give a general statement?

On the associated records if you say they would need to apply separately they can't with out either mine or my wifes authority and they certainly wouldn't get it from either of us on a sole app, and to be fair we have never been asked to supply the authority.

[Never-In-Doubt]

Re: mbna and interest payments

When u apply for credit you agree to the lender consulting a cra for you and any financially linked people. Ergo your wife applies, they "may" do a hidden search against you as your wife gave authority to search her or linked persons. They don't search your file as such, they pull a data feed which would give a brief overview of your credit status which would show the defaults. Also we have n hunter and data analytics which record such details and would be flagged up.

You cannot beat it lol. Why try and find fault with what I'm saying! It's the way it is, sorry mate.

[mgfboy]

Re: mbna and interest payments

Hi niddy sorry mate not trying to find fault , just I like to understand a process!!!

[Never-In-Doubt]

Re: mbna and interest payments

I know what you're saying but if you read the links I point you to (properly read and not look for what you expect or want to see there) then you'll know everything about the process...... seriously, its one of those annoyances with CRA's - I had to sue them before they removed fraudulent accounts from my file - cos they "were" in my name, but I never took the accounts out!

Beggars belief.......