can we get joint bank acc now my iva as ended ?

[chris1982]

Can I add my wife onto my bank so our wages can be paid into one account without it affecting her credit rating?

[Niobe]

Hello,

Have you had your completion letter and has the IVA dropped off your record?

If so then you can try and add your wife on.

[TheMatrix]

Yes if the credit file is clean. However if the bank was a previous creditor they might say no or they might put a lending restriction on your joint account with them.

[chris1982]

im not going onto her account she is coming to my bank with RBS who have been with throughout my iva.

[TheMatrix]

Same applies, there will no doubt be some kind of lending restriction on your account and association created between the two of you.

[chris1982]

ok thanks for your replies. We not wanting to get a overdraft we just want our wages paid into the same account without me damaging her good credit rating

[TheMatrix]

If the account is a "standard bank account" then it's considered a credit product reported on at the CRA if it was recently opened whether there is an agreed overdraft or not.

This is because a standard bank account can still be granted a informal overdraft where basically you just take out more than you have in and get charged a fortune for doing so in a unarranged overdraft if they agree to the lending or in fees in returned payments if they don't.

[chris1982]

its just a standard bank account with a debit card i cant go overdrawn and no overdraft is available but the account does show on my credit report. I just want to know if adding my wife onto the account will damage her credit rating.

[TheMatrix]

if it's reported at the CRA then it will affect both your credit ratings.

[chris1982]

looks like we going to have to keep separate bank accounts then even tho iva as already ended! she has nothing to do with my iva. so the defaults i have on my account from 5 years ago when i was not even with my wife will affect her credit rating seems unfair to me that!

[TheMatrix]

Nothing stopping you having a joint savings account though. Savings accounts are not reported at the CRA

[chris1982]

but with a joint savings account im guessing you cant use your card in shops abroad etc so it would mean paying our wages into a savings account then having to transfer it

[TheMatrix]

Yes I agree, that is unfortunately the case. Joint bank accounts though are going to get reported so if you want to avoid a financial link that is your only option really.

I'd wait until you get your IVA closed down and credit file cleaned up.

[Al19812008]

Just to say myself and my wife were aloud to have a joint account but its a basic cash card account with a visa debit can still go overdrawn and get charged fees which we all hate but not sure how long u will have to wait?

[chris1982]

but who as the iva both of you or just one of you?? im trying to avoid damaging my wifes good credit rating