Debt and credit ratings - does it affect other people?
Debt and credit ratings - does it affect other people?
Q: Can your poor credit rating from debt impact on other people in your house and if so what can i do about it?
A: As a rule yes, if someone living in a house has a poor credit rating, then it will normally affect everybody else in the house. This typically happens in flats because when firms carry out the credit check, it’s on the address not the person. Therefore, if previous residents have had bad credit ratings, it will affect everyone else in the whole block. Don’t despair though, as with all things there is a way around it.
Q: Surely its done on the individual not the property?
A: You would think this would be the case and in a way the answer to this is yes – checks are done on the individual as well. However, when taking into account the suitability of an individual for credit, creditors will take into account the address lived at for a person for the last 3 years.
Q: What Happens if i am in this situation as described above?
A: For those of you who have a good credit rating but live in houses or flats and are either affected by either the previous occupants or those living with you, then to help yourself with credit applications, Contact the Data Protection Registrar (DPR) in Cheshire.
Write to him asking for a Notice of Disassociation from the person or persons that are blighting your application. What this means to you is that when a company does a credit check on your address – they will see all the adverse information, but as long as none of it has your name on it, they will ignore all the other named people – you will not be blighted by those before you.
Before writing to the DPR, get a print out from Experian, so that you can list all the names of the people who blight you, so the DPR can put all the names on the Disassociation list.
If you have a problem with Debt, and need advice, find out your options instantly at: http://www.aladebtsolutions.co.uk/60secsurvey.aspx or Call us on 01291 671449
Q: Can your poor credit rating from debt impact on other people in your house and if so what can i do about it?
A: As a rule yes, if someone living in a house has a poor credit rating, then it will normally affect everybody else in the house. This typically happens in flats because when firms carry out the credit check, it’s on the address not the person. Therefore, if previous residents have had bad credit ratings, it will affect everyone else in the whole block. Don’t despair though, as with all things there is a way around it.
Q: Surely its done on the individual not the property?
A: You would think this would be the case and in a way the answer to this is yes – checks are done on the individual as well. However, when taking into account the suitability of an individual for credit, creditors will take into account the address lived at for a person for the last 3 years.
Q: What Happens if i am in this situation as described above?
A: For those of you who have a good credit rating but live in houses or flats and are either affected by either the previous occupants or those living with you, then to help yourself with credit applications, Contact the Data Protection Registrar (DPR) in Cheshire.
Write to him asking for a Notice of Disassociation from the person or persons that are blighting your application. What this means to you is that when a company does a credit check on your address – they will see all the adverse information, but as long as none of it has your name on it, they will ignore all the other named people – you will not be blighted by those before you.
Before writing to the DPR, get a print out from Experian, so that you can list all the names of the people who blight you, so the DPR can put all the names on the Disassociation list.
If you have a problem with Debt, and need advice, find out your options instantly at: http://www.aladebtsolutions.co.uk/60secsurvey.aspx or Call us on 01291 671449
Labels: card debt, Credit Ratings, Debt Management, Get Out Of Debt, Personal Debt
posted by Lisa at
1:45 AM
1 Comments:
Hi, This is Debbie. I read your posts . It was lovely. Its really insightful. I can also write a post for you on "How to overcome problems while applying for an Administration Order in UK". I do not charge anything but just a link back to my site www.yesdebtfree.co.uk/. All my articles are original and well researched since i am a financial writer at www.yesdebtfree.co.uk/. I also blog at: http://www.michellebrien.wordpress.com/ Le me know your views at debbie@yesdebtfree.co.uk
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