Bank of Scotland are w**kers

[gravytrain]

Re: Bank of Scotland are w**kers

Interesting. Do you know to what extent?

It is an interesting question, I know that the CRA record all financial relationships but I am not sure if the record of the partner influences the other partners file. i know that it didn't in my case, my other half is on a DMP with payplan and i have no trouble getting credit. (it wont last)

[BBoo]

Re: Bank of Scotland are w**kers

It is an interesting question, I know that the CRA record all financial relationships but I am not sure if the record of the partner influences the other partners file. i know that it didn't in my case, my other half is on a DMP with payplan and i have no trouble getting credit. (it wont last)

I assume it's a newish DMP? Did you look at the UE route for her before deciding on a DMP?

[gravytrain]

Re: Bank of Scotland are w**kers

I assume it's a newish DMP? Did you look at the UE route for her before deciding on a DMP?

I thought about it briefly, I suppose if it would have been my debt, then perhaps i may have done on some.

But I do not think she could have handled the agro, as it is she owes 15k to seven debtors and pays £85 a month, she has never had any hassle from scumbgag DCA's from day one, she can see her debts going down every month on line, and if we have a bad month we just ring them up and have a month off.
All interest on all debts have been stopped.

So she is quite happy, what will happen if we one day cannot afford to pay the minimum amount will be another story of course.

On the down side it will be a long long time until her CRA file is completely clear because she has not yet been defaulted

[mgfboy]

Re: Bank of Scotland are w**kers

I think your find that if you have any joint accounts at all, your wife will already be tarred with your brush!!!

The only reason I say this is firstly, Niddy said so and secondly when my wife was looking for a business loan the manager started asking question about my credit history and how it look poor!!!!

[gravytrain]

Re: Bank of Scotland are w**kers

I Googled this, I don't know how authoritive it is but it makes sense.

Does my partner’s credit rating affect mine?

Your credit report shows the names of anyone you have a joint mortgage or joint account with, but information about their credit history is not included in your report. Still, many lenders will choose to look up a financial associate or partner’s credit report and they may use this information when deciding whether or not to grant you credit.

Credit reports: the uSwitch guide - uSwitch

[Never-In-Doubt]

Re: Bank of Scotland are w**kers

Yes a partners credit rating affects the other. It's done via Share which picks up associates and/or financial links with other members of your household.

Lets say I took a joint loan with my wife and we repaid it all over X years.

I then decide to apply for another in my sole name but I default cos this over stretched us. This would link both cra's to the fact and also create the financial link if they did not create it with the old settled joint loan. The lenders owns this data.

So the fact I defaulted on a sole loan WILL still affect my wife because the fact we HAD a joint account in the past links us. This link remains forever as you cannot break it UNLESS you split and complete a notice of disassociation (stating you've split). That will stop any future links but the historic ones remain.

Of course if you are NOT financially linked to a person they CANNOT share the data jointly.

When we say "link" it doesn't mean all her stuff shows on my report no. It means the lender in question can see her name and see an entry (default or whatever the link was) then perform an additional search on her even though she isn't applying for this sole account. I am.

Make sense?

[diddlydee]

Re: Bank of Scotland are w**kers

I can confirm that what Niddy has said is true.

Some people have inadvertently been linked to their children etc in the past, however, you can have links removed if they are not correct.

Hubby/Wifes credit more often than not affects each other!

[gravytrain]

Re: Bank of Scotland are w**kers

Yes prety much what the link says, I suppose it is down to the scoring criteria of the new lender.

I think it is fair to say that it does not have to effect your application, it didn't in mine.
On Vodaphone
Cap one
Vanquis
Aqua

All bottom end credit I know but still, useful to know

[Never-In-Doubt]

Re: Bank of Scotland are w**kers

With sub-prime credit usually they look for a clear 12 month to 36 month period. If that's clear (on your own) then that does them. Your partners banking is irrelevant.

It's only really used against you if one is in debt and one isn't or if one is too stretched while the other applies for more.

It's not as strict as you'd think because its easy for you to say you've split hence the data could be out of date at regular times.

The point of this is purely to stop couples playing the system. So if I borrow £100k my wife would not be able to do the same. Unless we kept everything separate, which we have. Everything is in my name other than our mortgage which is in her name. Hence anyone tries to sue me or any of my businesses; our hoose is safe

[gravytrain]

Re: Bank of Scotland are w**kers

That is an extremely good idea IMO

[BBoo]

Re: Bank of Scotland are w**kers

He's not just an (ugly) sorry, meant pretty face!

[mgfboy]

Re: Bank of Scotland are w**kers

He's not just an (ugly) sorry, meant pretty face!

Thats until his wife runs off with Martin Lewis becuase of the millions he has made from a consumer credit advice website

[Never-In-Doubt]

Re: Bank of Scotland are w**kers

Eat me

[mgfboy]

Re: Bank of Scotland are w**kers

I had a little talk with BOS and they agreed to not increasing the interest rate and also they refunded some of the the charges they applied a few years ago.

It's a result I suppose