How Your Flatmate Could Affect Your Credit Report

Did you know that your credit score can be affected by the people you live with? If you have a bad credit history with someone, it could appear on your credit report. While having a housemate may help you save money on housing by lowering prices in areas where rent is exorbitant, their behaviors have the potential to harm your credit score and limit your access to credit in the future.

If the phone bill is in your name, it might have an impact on your Credit Report. If a payment is missed, you should contact your communications provider as soon as possible and discuss the situation with them rather than hoping an outstanding debt will not appear on your Credit Report.

If you stay on a lease with someone or have a housemate, your credit score should not be affected since real-estate agents and landlords are unable to access your credit report. However, if you split utility costs with a housemate who isn’t paying their share, this could put you in hot water.

Remember, if your payment of $150 or more is overdue by 60 days or longer, it will be recorded on your credit report. This includes payments on your utility accounts such as your energy, phone and internet bills. Make sure your housemate pays their part promptly if you have a name on your utility accounts. If you must move out soon, make certain to remove yourself from the account.

If you do receive a default listing on your credit report, it will then remain there for 5 years even after it has been repaid. This can lower your credit score and could impact your ability to access credit in the future.

If you have found yourself in a situation where you are being denied credit due to bad credit, don’t despair. Clear Credit Solutions is your clear credit solution! Our credit repair experts work hard to remove these listings off your report so that you can go for finances and be approved for it! Don’t let this default stop you from moving forward, so take the first step today by giving us a call or filling out our enquiry form online! Let us help get your life back on track and finally clear credit history!

Here at Clear Credit Solutions, our credit repair experts work hard to remove these listings from your credit report so that you can go ahead and apply for the finances that you need. We understand how important it is to get your financial life back on track, and we want to do everything we can to help. Contact us today to find out more about our credit fix process and how we can help you to wipe credit clean!

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