Originally published February 20 2005
Removing joint finances after a divorce is key to removing ex-spouses from credit reports
by Mike Adams, the Health Ranger, NaturalNews Editor
After a divorce, former couples often need to divorce themselves from their partner's credit reports. However, in order to do this, they must remove all of their mutual financial ties, such as joint bank accounts. A notice of correction can be added to a credit report as well, which would provide further information when people need to explain bad credit produced by their spouse.
James Jones, consumer affairs manager at Experian, replies: Your credit history is linked to someone else only if you have actual financial ties such as a joint account.
Ask a question Credit reference agencies can break these links by creating a 'disassociation', but, under normal circumstances, will do this only when any financial ties have ended.
And couples usually have a number of financial ties.
People can add a statement - called a 'notice of correction' - to their credit reports with the purpose of adding further background information.
Prospective lenders see these statements when they carry out credit checks and may take the information into account.
Your husband could add a statement to his report to distance himself from your information.
If, for example, your credit problems relate to a time before you got together, he could state that he feels your adverse credit history has nothing to do with him.
It might also be sensible for you to get hold of your credit report to ensure the information is up-to-date and that past debts are shown as repaid.
The credit reference agencies will answer any questions you have and will help you add your own notice of correction, if appropriate.
Finally, it is worth remembering adverse information stays on your credit report only for six years.
Although this may seem like a long time, there is light at the end of the tunnel - even if you and your husband find it difficult to get credit in the meantime.
Whatever you do, don't be tempted to pay a credit repair company to help.
It can do nothing you can't do for yourself.
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