Hi All. Ever since I entered into my IVA my wife appears to have been tarred with the same brush. She can no longer even get car finance or a small bank loan?!?! PayPlan assured me should would not be affected and despite checking her credit file with all of the well known agencies and finding nothing she still cannot get free. We have a financial link in that we have a joint mortgage. Could the mortgage be the thing that's running her score too?
Thanks in advance!
If she is linked on the credit reports to you, under Financial Associations, then your IVA will mar her credit record too I am afraid. Wholly unfair, but creditors will assume a greater risk by association.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
I agree with Foggy that the mortgage is probably the sticking point here. It is unfair but nothing can be done.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Thanks for replying. All of the agencies checked and noddle subscribed to. We do have a financial link as we have a joint mortgage but nothing else. Are there things on a credit file that we simply cannot see? All of the results say her rating is good and soft searches don;t indicate anything? My wife couldn't even get a regular bank account, i.e. cheque book etc. at one time and probably still can't. She tried t get car finance for a small amount and no way. But there's nothing visible anywhere and surely it's not just the joint mortgage???
font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by Lisa Thomas
Has she done a credit check? This will provide the answer.
Noddle and Clearscore are also free credit agencies to consider using:
Her score will be a reflection of her good management of her lines of credit but prospective creditors don't just look at scores and ratings they are purely weighing up the risk against the return of offering a product. They are in your wife's case deciding there is a higher risk because she has a financial association with yourself. Has she asked for a reconsideration when she has been declined. Have any been face to face?
You should be able to see everything on the credit records. Have you sent to all three for a full record rather than the free ones? They are £2 a time or you can do a months free trial.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
I'm my own experience, when I've spoken to someone in person regarding bank accounts, financial situation, the response I've received is one of understanding and the attitude of " let's see what we can do " , not the automated s@d off. Online decisions will not show any descretion.
