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 will bankruptcy affect my parents ?

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Laura.F Posted - 04 April 2008 : 09:55:30
I live in my parents house, if I declare myself bankrupt will it affect them in any way with regards to thier credit rating if they apply for any type of credit?
3   L A T E S T    R E P L I E S    (Newest First)
Skippy Posted - 06 April 2008 : 15:21:50
I lived at my partner's address when I went BR and it doesn't seem to have affected him as he was able to take out a new mortgage last year.

Tomorrow is a mystery, yesterday is history, today is the present, a gift to make the most of.
Carl McMullen Posted - 04 April 2008 : 22:09:36
Laura,

I had a family member who went bankrupt whilst living with family and it had no affect on them at all (as far as I am aware)

But as Julian says if it does affect them they can appy for disassociation.

Do they know about your financial situation ?
JulianDonnelly Posted - 04 April 2008 : 10:51:19
Hi Laura,

Welcome to the forum,

Technically it shouldn't, however in reality it may.
May I suggest you contact Experian and Equifax the two main credit reference agencies and request forms for financial disassociation, your parents can fill these in and send them back to the agencies which should combat this problem.

All the best


Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk

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