Your views and questions.

Moderators: TalbotWoods, JaneClack

By Pandora
#226345 I am coming up for yearly review with Payplan having been in a DMP with them for 3 years. I have recently had a change in circumstances as I have moved out of my very cheap private rented property to live with my partner who owns his own home in a much nicer area to where I lived before. We do not have joint bank accounts and the mortgage is in his sole name.

I am paying him a monthly amount which covers half of all bills including mortgage, council tax, utilities, food, etc and an amount to cover car maintenance and running costs. I no longer own my own car but do have the use of his when I need it, although I take the train to work every day which costs another £70 a month. My question is - as I am paying him a monthly amount, does this constitute us being "financially tied" even though we have no joint accounts or joint debts? My partner does know about my DMP but is worried that he may be affected, particularly if part of the amount I give him is towards the mortgage.

Also, I am slightly concerned that my creditors may take a dim view of me now paying considerably more to my partner each month than I was paying in rent previously as I am now in a much nicer property. Up to now my creditors have been pretty good and left me alone, but I'm worrying that this might start them off again.
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By JaneClack
#226355 As long as you are not financially linked officially ie on the mortgage, have any joint debts etc then his credit rating is not at all affected by yours.

Whether or not the creditors will be happy with a reduction in your payments matters really not a whit. It is your credit rating that is affected, you have no assets to lose and even if they went for a court judgment all that does is prove you owe the money and sits on your credit file like a little gremlin until it falls off six years later. With no assets then you have nothing to lose.

Even bankruptcy might be an option to finally put an end to it all - unless you are sel-employed this is unlikely to go into the newspaper and as such no-one will know and it won't affect your partner's credit rating.

People change their address all the time - it is your credit rating that is affected, you are the one who is not taking out further credit, you are not claiming benefits so it matters not a whit where you are living!