If you have ever opened a joint bank account, taken out a joint mortgage, or even just applied for a joint utility bill with someone, you have created a "financial association" on your credit file.
This means that their credit history is now linked to yours. If they miss a credit card payment or get a CCJ, lenders will see it when assessing you, and it can result in your solo applications being rejected.
When to break the link
If you have separated from a partner, or moved out of a flatshare where you had joint bills, you must break this link immediately. It does not happen automatically just because you get divorced or move house.
The Notice of Disassociation
To break the link, you must file a Notice of Disassociation. Here is the step-by-step process:
- Close the joint accounts: You cannot disassociate from someone if you still share an active joint account. You must close the joint bank account, clear the joint loan, or transfer the utility bill into a single name first.
- Contact the agencies: You must contact Experian, Equifax, and TransUnion separately. You cannot just tell one of them.
- Submit the form: Each agency has an online "Notice of Disassociation" form. You will need to provide your details and the name of the person you wish to be unlinked from.
- Wait for processing: It typically takes 28 days for the agencies to verify that no active joint accounts remain and to remove the link from your file.
Once the link is removed, their financial mistakes will no longer drag down your credit score.