Financial Association

What is a Financial Association?

A Financial Association is created whenever you open a joint account, take out a joint loan with someone else or (in some cases) act as a guarantor for a loan or mortgage.

If you include your spouse’s name on a credit application, this will also create an association. A financial link to this person subsequently exists and will be shown on your Credit Report and remain even after the account is settled or closed, even if you get divorced.

Find out more about how financial associations can be dealt with during a divorce


Q: How do I remove a Financial Association from my Credit Report?

A: In order to remove a financial association you will need to contact the Credit Reference Agencies reporting it to request a disassociation - in the absence of finding any evidence that the account is still active, the details relating to the other persons will be removed from your credit reports at all three agencies within a month or two.

Remember: it is possible for more than one Credit Reference Agency to report a Financial Association as active, so it’s important to request a disassociation from each one reporting it. checkmyfile offer the UK’s most detailed Credit Report, with information from four Credit Reference Agencies, not just one. We are also able to request disassociations on your behalf.

If you haven’t already, you can try checkmyfile FREE for 30 days, then for just £14.99 a month afterwards, which you can cancel online at any time.

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