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gymgirl
Starting Member
3 Posts |
 Posted - 18 June 2009 : 12:08:59
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hello, i was wondering if you go bankrupt what affect does that have on the address? i don't want others in the house i live in affected if i go bankrupt (a relative owns it - different surname). also, do they chase you at your address for the debts once you are bankrupt - i know they are not meant to but in reality do they?
thanks in advance for you help if you reply! |
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Amy Jellings
Debt Diva Expert
48 Posts |
Posted - 18 June 2009 : 20:30:34
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Hi there,
The issue can arise when credit reference agencies "link" persons who reside at the same address. If you live with people who have seperate financial affairs to yours they can write to a credit reference agency (like Equifax) with a Notice of Disassociation - details of how to do this can be found on the agency websites.
You only need to do this for one agency - they will notify the others. The effect should be that the other person does not experience additional issues in obtaining credit due to the bankruptcy of the first person.
Collections efforts tend to end quickly - the Official Receiver will notify all creditors of the bankruptcy quickly. If anyone calls or writes to you it is fairly simple to prove to them that the bankruptcy has taken place and that the debt is no longer due. The details of any individual's bankruptcy are publicly available online and serve as quick proof that further collections efforts are pointless.
I hope this helps? |
Amy Jellings
Bright Oak
Debt Advice & Debt Management
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gymgirl
Starting Member
3 Posts |
Posted - 09 July 2009 : 19:45:37
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| Yes that reply was useful thanks! |
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Tracey
Average Member
563 Posts |
Posted - 10 July 2009 : 10:07:20
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| My partner wasn't affected when I went BR - he has applied for a new mortgage and credit card since with no problems. |
Yesterday is history, tomorrow is a mystery, today is the present, a gift to make the most of. |
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Agent Smith
Average Member
779 Posts |
Posted - 11 July 2009 : 10:35:31
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| Me and hubby are both in an IVA and daughter still lives at our address. She has managed to credit with no problem at all. |
15 months into an IVA.
Jan
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Vanessa Phillips
Debt Diva Expert
464 Posts |
Posted - 15 July 2009 : 22:34:27
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| Contrary to popular belief, it is the PERSON who is 'black-listed' not the address. As Amy quite rightly said, if there is a finacial 'link' then you need to have it removed. When I was made bankrupt, I made sure I 'disassociated' myself from my ex, and he has never had any further problems gaining credit, even though we lived in the same house for 19 years! |
Vanessa Phillips
Lending Consultant
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Topic |
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what is affect does bankruptcy have on an address?
