Removing link between 2 credit file/joint bank acc

[flamingate]

2 people are linked on their individual credit files due to having a few joint bank accounts (which have just £10 in them)

Their credit files both need the 'other' person removed,

The aim = to 'dislink' both people, on BOTH Credit files, so they are NOT LONGER linked.
(there is no other things on their credit files) - besides these joint bank

How many methods can be used to do this? What are the steps for this?
There are 2 below.

Method 1 - Closing the bank account completely (from both people)

Getting the forms from the bank, they both fill them, both sign them, return cards, show proof (driving licence etc), (after taking any cash out of course).

Method 2 - Removing 1 person from the joint bank account, leaving it a single bank account

So 1 person is kept with the account, the other person is removed (who doesn't need the account). But the account is kept running by person1.
, converting the joint bank account into a single bank account..


a Notice of Disassociation is then sent to all 3 Credit reference agencies,
that both people are NOT associated with the joint bank account



a) Will method 1, 'and' method 2 remove the link between both these people, in months to come ? from all 3 Credit reference agencies?

b) As far as removing the link between both people - then do methods 1 and 2 both do exactly the same thing? (obviously 2 has the acc still running)

c) Do Both methods 1 + 2, need the Notice of Disassociation to be completed ? or only method 2 does ?

d) Any other steps to do?

e) After the Notice of Disassociation have been sent, do the 3 CRA's write back to each person? to update them? or send any other letters to them ?

Thank you in advance.

[TheMatrix]

I'll work my way down.

a) Either method should work. You need a way to show the credit reference agency that the association no longer exists between the two of you financially which a joint bank account will contradict

b) Yes, as long as the bank allow it, as there is nothing in the account then you should be able to do this. Though if there was a debt, they may be reluctant to do so as both are liable for a joint account debt and they could chase the other for payment on a default.

c) Yes this is essential, either one can request a NoD, it's not the joint account that is the financial association rather a marker that the CRA have which indicates that there is a financial association between the two of you now or at sometime in the past.

d) I would get hold of your credit file, and ask the other person to do the same. Check them both first to see what the situation is. Then if there is a link get the account updated/closed first before doing the NoD.

e) The CRA will write to whoever requested the NoD and confirm what they have/have not done and any reasons why if they have refused to delink the two of you. I've not had any junk mail from them in the post, though I have had emails from them inviting me to check my file / take out a new subscription - I just ignore them as quite happy with noddle to check for any changes.

[flamingate]

font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by TheMatrix

d) I would get hold of your credit file, and ask the other person to do the same. Check them both first to see what the situation is. Then if there is a link get the account updated/closed first before doing the NoD.

How will joint accounts it be shown on the credit file?

or how will joint links be shown on credit files?

will each file have the 'other' persons name on them?

What are the main 3-4 credit file agencies are there for a persons credit files ?

[Kelly O]

You can find all the information you need to joint accounts and financial disassociation here http://www.experian.co.uk/consumer/faq/AR3.html