After splitting up with my ex, I've been left paying loans/cards/etc we had as he has made himself bankrupt so that he doesn't have to pay them.

I contacted the court we're he filed for his bankruptcy and they told me that they would not exclude them even though I was joint or severally liable for the things we had in joint names. So I've been getting on with my life and slowly paying everything off.

My question is, how can I start to repair my credit file? I've got copies from Equifax and Experian that show my ex's bankruptcy petition and all his credit info and I wondered if I could dissasociate myself from him.

-- Bev (bev100@genie.co.uk), October 19, 2001

Answers

Firstly, making himself bankrupt will not mean that your ex will not have to pay any of the loans/credit cards back. His share of the debts will be added to the total debt which his Receiver will then pay off through the sale of his assets.

Secondly, the credit cards - are these in his name first with you as additional cardholder? If so, then you are not liable, he is. If it is you as first cardholder and him as additional, then you should register your interest with the Bankruptcy Receiver. You'll probably be at the bottom of the list, but there is a chance at least you'll get some of whats owed. Don't forget to have him removed as cardholder!!

As for the loan, if this is a joint loan then you are jointly liable. However, it might be worth having a word with your bank about maybe restructuring the loan so that the payments are easier for you, the interest will be lower since the rate cuts and it will be in your name only then. Although it means taking over the whole loan, if there is little chance of getting anything out of your ex, then you may as well grit your teeth and get on with it.

There isn't really such a thing as clearing up your credit file - not in one hit anyway. The best thing you can do is remove yourself from any joint liabilities with your ex. Pay what is due on time and gradually your good payment record will have a history on your file giving you better chances in the future. Don't bother with these credit repair firms because there is nothing they can do that you can't do yourself.

For anything that isn't in joint names any more, ask the credit reference agencies to create a disassociation for you. If there is a joint account anywhere however you can't create that disassociation. What you might be able to do though is have a 200 summary at the end of certain entries saying that you're nothing to do with your ex any more.

-- pendle (pendle_666@yahoo.co.uk), October 19, 2001.