Credit rating

[lorna56]

Does the address or the person get blacklisted?

[ummmm]

Person.

[LoftyLottie]

Not any more, just the person as ummmm says.

[LoftyLottie]

I meant not the address any more. It used to.

[lorna56]

Thank you. My son went abroad leaving my address as his and the bank are after him for unpaid overdraft. They tell me if he gave this address then it will be affected. What can I do apart from disowning my son (only joking but that's how I feel at the moment!) They won't accept his phone number off me as it is against client confidentiality!!

[lorna56]

lorna56
Question Author
Mark as Best Answer
Thank you. My son went abroad leaving my address as his and the bank are after him for unpaid overdraft. They tell me if he gave this address then it will be affected. What can I do apart from disowning my son (only joking but that's how I feel at the moment!) They won't accept his phone number off me as it is against client confidentiality!!

[KARL]

May I suggest you pay his overdraft, tell him he owes you and that you are changing the lock(s) on your door(s) if he does not come clean and/or withdraws any more money without funds in place. This would end your concern regarding furthering of the transgression's effect on you. ThIs data protection, client confidentiality, etc. thing is more often than not a load of bunkum used to be obstructive rather than constructive or even just plain realistic (or in other words as Rse-cover).

[lorna56]

Thank you Karl. Unfortunately the overdraft is over £3,ooo and interest rising all the time!

[LoftyLottie]

You are not responsible for your adult son's debts in any way. Stand firm if anyone tries to get money out of you. I presume your son is aware that you have been approached by the bank and that you are very worried?

[lorna56]

Thanks LoftyLottie. Spoke to my son on numerous occasions and he has promised to call the bank and arrange payments. The last letter from them threatened recording at a credit reference agency. Was wondering if I should send future letters unopened back to the bank marked 'not at this address' but I think it is probably too late for this now.

[LoftyLottie]

I would send future letters back to the bank if I were you otherwise they will continue to chase you.

[Buenchico]

As others have indicated, credit rating agencies are not permitted to blacklist a person SOLELY because of their address.

However they have every right to do so when they believe that there is a 'financial association' between the person who is applying for credit and the person who has a poor credit history. An obvious example is when they believe that two people, sharing the same address, are living together as sexual partners, rather than just as flatmates. The agencies also tend to assume that members of the same family, at the same address, have a 'financial association'. So you might well (unless you do something about it) find that your own credit rating is adversely affected by your son's poor credit history.

You joke about 'disowning' your son but (in the financial sense only!) that's exactly what you need to do. You should file a 'notice of disassociation' with at least one of the three main credit reference agencies. (It's probably best to do it with all of them, but they usually share information anyway). The agencies are Equifax, Experian and CallCredit.

Chris

[LoftyLottie]

Don't open the letters.

Your son is not your responsibility if he is over 18 and you don't have to give the bank any details of his address or contact details. The bank will have to sort it out, not you.

[LoftyLottie]

Your answer is good Chris, but

"'financial association' between the person who is applying for credit and the person who has a poor credit history. "

It is Lorna's son who has a poor credit history and Lorna is not applying for credit or has a poor credit rating.

[lorna56]

Thanks Chris. I will take you advice. My son is 31 and should know better! He advised me to pay the interest which is currently about £67 to 'keep them sweet' but I figured if I did this then that will only encourage the bank to keep chasing me for more. Thank you all for your replies - makes me feel that I am not alone.

[LoftyLottie]

I can't believe your son is actually asking you to pay his interest. But I sincerely hope it all works out for you. Please don't pay the interest, it is your son's problem and you don't want to be drawn into it.