Mums Credit card

[james.g]

I am in the process of setting up an IVA and I have read on a post hsomewhere here that a ladies brother had his credit cards frozen as he was in an IVA when he was not but lived in the same house.
The question that I would like to ask is that my mum has a credit card with one of the companies that I am putting into the IVA.
I am also a named card holder on that account but purely a named card holder.
Can this affect her card or credit rating and should I get my mum to change her address details ASAP

Thanks

James

James
www.photoslidedvd.com

[MelanieGiles]

Potentially the answer to this is yes, so your mum could file a notice of disassociation with the credit scoring agencies which separates her financial affirs from yours.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp

[MelanieGiles]

Potentially the answer to this is yes, so your mum could file a notice of disassociation with the credit scoring agencies which separates her financial affirs from yours.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp

[sonyse2t5]

Hi mate
You need to cancel that supplement card which you are using now! Get you mum to cancel that card in your name with immediate affect. Don't delay.

It takes a while for the credit reference agency to correct info...they want to make a buck. You don't want an IVA meeting to go ahead when the association is still there - your mum can go BR.

[Adam Davies]

Hi
I was under the impression that a supplementary card was not credit checked and the debt was down to the primary card holder.
I have only come across the recent example quoted where another family member has had their own cards withdrawn as a,seemingly,direct response to a relation entering into an insolvency agreement.
It will be interesting to see if this is a one off or starts to become more widespread.
Regards

Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp

[Adam Davies]

Hi
There is no danger of james.g's mum being declared bankrupt over this.I also believe that supplimentary card holders details are not held on a credit file as the main card holder is the one that pays the bill.
I really wouldn't be concerned with this and as Melanie states just file a notice of disassociation
Regards

Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp

[Skippy]

Dave had a second card on a couple of my accounts but it didn't cause a problem with my IVA or BR. I was liable for the very little he had spent.

Yesterday is history, tomorrow is a mystery, today is the present - a gift to make the most of.

View my blog at http://skippy13.blogs.iva.co.uk/

[james.g]

Dave,
Basically what I have done today is change the address on my mums credit card to actually reflect her new address.She has moved a while ago but she did not update her address details, they were still at my address but in her name.
So once the address is updated she will still hold the credit card with the bills going to her house and me still as a named card holder.
Is this acceptable and safe? as to have useage of a credit card when and if my IVA is set up will be very handy and the credit is in my mums name and not mine.
Please let me know if you feel that I need to take any further action as the last thing I want to do is mess with her very good Credit rating.
Thanks
James

James
www.photoslidedvd.com

[james.g]

Basically what I have done today is change the address on my mums credit card to actually reflect her new address.She has moved a while ago but she did not update her address details, they were still at my address but in her name.
So once the address is updated she will still hold the credit card with the bills going to her house and me still as a named card holder.
Is this acceptable and safe? as to have useage of a credit card when and if my IVA is set up will be very handy and the credit is in my mums name and not mine.
Please let me know if you feel that I need to take any further action as the last thing I want to do is mess with her very good Credit rating.
Thanks
James

James
www.photoslidedvd.com

[smr]

James G

Cut up your supplementary card - NOW. I know it would be "very handy" to have a credit card once your IVA has gone through, but don't you see the point? Credit and poor credit management is what got you here in the first place. You have used yours to the max and if you don't change your spending ways you could risk your mum's credit worthyness by putting her in a position where she cannot pay because you have "run up" the bill. Does she pay the credit card bills ? How do you repay her ?
Don't put yourself or her in a worse position.
SMR

[james.g]

My Mum pays the credit card bill.
The only reason I say handy is if I need to pay for something remotely, ie over the internet or phone. The new debit card we have is unlikely to be accepted.
The last thing that I want to do is (a) rank anymore debt for myself, hence the reason I have applied for an IVA and (b) Got my mums bad credit hence this post!.
I simply would like some advice as to wheather the situation that I have mentioned wil affect her credit rating

James
www.photoslidedvd.com

[Skippy]

I would get a prepaid card for buying things on the internet - I've got a Virgin one and others have said the Cashplus card is very good.

Yesterday is history, tomorrow is a mystery, today is the present - a gift to make the most of.

View my blog at http://skippy13.blogs.iva.co.uk/

[Adam Davies]

Hi
Using a supplimentary card will not affect your mum's credit rating as long as she pays heR bill on time.It would still pay her to lodge a notice of disassociation at the credit reference agencies because although she has moved house the credit agencies link addresses together.
Regards

Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp

[skint til payday]

I was going to send in exactly the same question this evening when I got home!!
ok, Think I would like to understand this situation fully too!,
here goes,.. I had a credit card with bank Of scotland and I went into an Iva a couple of months ago, however, my flatmate got me a supplementary card on the same card prior to this (although as yet I havent used it) but now with christmas comming up it would be handy to maybe spend £60-£100 on it but I too am afraid that it may effect his credit rating!
I get comission one month in arrears so I could pay the balance in January but would like to know how we would stand with this as whenever I have got additional cards for my family etc I was always told that I would be solely responsible for the full amount regardless of the spending on the card and I definitely know that credit checks were never done at that time. Does anyone have a definite answer has it all seems quite confusing and I wouldnt want them to link my financial affairs with his.
Thanks

[MelanieGiles]

By using this card, and then repaying at a later stage, you are incurring credit and putting your friend at risk. If you are already in an IVA you would be breaching the terms of your agreement, and personally I feel taht supplementary cards are very dangerous. If you only need to spend £60-£100 could this not come out of your miscellaneous or car maintenance budgets?

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp