Will Bankruptcy affect family members is a common question. This question usually relates to an individual living at an address that is shared by family members.
The reasons are usually twofold. The individual facing bankruptcy is living at home with parents and is concerned that they will adversely affect their family members by executing a bankruptcy from their address.
Or it could be that a husband, wife, or partnership living together where one of the parties has a debt thats become unmanageable is considering bankruptcy and really doesn’t want to adversely impact the other person.
Strictly speaking there should be no way of viewing any one else’s credit history in the household. The Data protection act came into force in 1999 which prohibited viewing peoples credit files that lived at an address. So what that means is that if prior to the act coming into force you lived in a house in multiple occupation or a converted flat or block of flats then if a search was carried out on one person then everyone else’s details that lived at that number in the road could be seen and viewed. Hence the need for the data protection act.
Not usually, especially if they are living at a different addresses. For cautious family members living at the same address, it would be possible to disassociate themselves from you at the credit reference agencies, especially Experian and Equifax. But this can be easier said than done. There is a process to follow and it can be complex, but there are some really good credit repair companies out there who can help you if needs be.