London, July 2012 - Research recently released by the Consumer Credit Counselling Service (CCCS), has revealed that divorce or relationship break-up leads 25 people a day to seek debt advice. Leading online credit information provider, Equifax, is urging anyone who has recently gone through a break up to take stock of all their financial arrangements. In particular, the company is urging parting couples to close joint financial accounts so that any future debt problems they might have wont affect the others ability to gain credit.
Neil Munroe, External Affairs Director, Equifax explains more: “If you have a joint financial agreement with a partner, then their credit information will be linked to yours for as long as that agreement exists. Although you may not know a partner’s financial situation before you take out joint agreements, you can protect yourself from getting into financial difficulties when the relationship is over by ensuring that all joint agreements such as credit cards, mortgages, and bank accounts are closed as soon as possible.”
“Lenders look at all the financial commitments someone has when new credit is applied for - and if there are joint financial agreements they will more than likely also look at the credit history of the partner too.”
Equifax offers a free online credit check, which can be accessed via its App, where you can view your personal credit report, including any joint agreements you may have. The end of a relationship is a good time to go online and get your credit checked.
The Equifax Credit Report, with the facility to access credit information for the first 30 days free, gives consumers a valuable insight into their credit status. Accessible simply by logging onto www.equifax.co.uk it is designed to help individuals understand their credit file and see what lenders see to assess new credit applications. It also includes expert tips and advice to help consumers take the right steps to manage their finances and navigate through life’s challenges.
If the customer does not cancel before the end of the 30 Day Free Trial, the service will continue at £8.99 per month, giving them unlimited online access to their credit information and weekly alerts on any changes to their credit file. It also includes an online dispute facility to help them correct any errors on their credit file simply and quickly.
The Equifax app is available free from the Apple iTunes Store on iPhone and iPad and from Google Play for Androids.
Here are some top tips from Equifax on how to protect yourself from your ex’s debts
For further press information please contact: Louise Fowler, Clare Watson or Wendy Harrison at HSL on 020 8977 9132 / Fax: 020 8977 5200 or Email: firstname.lastname@example.org.
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