, if I can get an IVA in place, will this effect my husband or daughter getting credit in the future. I know in the past it used to go by your address is this still the case. Just asking because my daughter is still living at home at the moment and no doubt will at some stage need to get a credit rating for herself.
Each person should have their own individual credit file but there can sometimes be problems. These are easily addressed and your IP can explain what to do.
Hello,just to be on the 100% safe side please make sure you have no joined up bank accounts with them.Credit agencies search for individuals not properties and infomation pertaining to the person.But joined up accounts will be flag up in searches.It doesn't necessarily mean it is a problem. But I have heard some people put notices in the Credit file to mention the 'disassociation' with family debt individuals as a precautionary measure.
Best ask family members to check their file when your Insolvency is in the system.
Last edited by nonewdebt on Mon Jan 26, 2015 3:18 pm, edited 1 time in total.
Bear in mind that it's not just bank accounts that will form an association between you and another person -any credit accounts (bank, mortgage, loan etc.)you have jointly with another person will create a financial association. If you enter an IVA whilst financially associated with someone else then it will trash their credit rating for as long as the association continues.
"If you think it's expensive to hire a professional to do the job, wait until you hire an amateur."
Technically your daughter should not be affected or your husband if you have no joint accounts, however the reality is that creditors may choose to decline credit where a household member has an IVA without having to give the reason
