My husband and I split in September 2017 and I moved into a new rental home with our son. No formal divorce or separation proceedings have been started yet. Since I have left, he has run up lots of debts on credit cards (in his name only) and is considering an IVA. Will this affect me and my credit rating? I am hoping to apply for a mortgage later this year. We are based in Scotland
If you have joint finances it will impact on your credit rating.
Have a chat with an IP company in Scotland.
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
As long as you have no joint finances any association on your credit files should be removed. Before any large financial undertaking, like a mortgage, it is always a good idea to check your credit files with each of the three agencies and making sure everything is correct. Make sure you are shown as being on the electoral roll and that the search covers the previous addresses. The agencies will remove any links on request and anything else can be corrected while you are at it.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Also if there are any joint accounts that you use, ensure they are separated, my ex was using an account with my name on it and it was frozen as a result because my credit card with that bank was included in the IVA. I had been trying to get myself off the account for over a month beforehand but he had told them to keep me on it when they said he would lose the overdraft facility with the change. So it all came out in the most unfortunate way. I didn't want him to know I had struggled after the separation, but the bank told him everything.
