Reportedly, money is one of the biggest sources of strife in a relationship. But even if you go your separate ways, or get divorced, did you know that your ex-partner’s spending habits can still affect you?

Mother and child playing


Here’s what you need to know about shared finances and how to make sure that an ex’s credit history doesn’t stop you from getting credit in the future.

Splitting up doesn’t automatically separate your finances

Just because you’ve moved out or even got a divorce, that doesn’t mean your finances are automatically separated. If you have joint accounts, where debt remains unpaid, this will affect both parties. So it's important to work together where possible to get these settled. Once this is done, you can close the accounts.

Financial disassociation

If you are concerned about your association with a previous partner, you could apply for something called a ‘financial disassociation’. Without one, your ex-partner’s financial situation may affect your credit rating, even if you divorced years earlier.

You can apply via the three Credit Reference Agencies (CRAs):

Before you apply for financial disassociation, you must have moved to a separate address and have settled and cancelled all joint accounts, loans and credit cards. You can move utility bills to a single person and a single person may also be able to take over loans, as long as the lender is satisfied they can afford the repayments on their own.

Talk to us

If you need to discuss your finances, our Customer Consultants are trained to help you. They can also refer you to one of the expert organisations we work closely with, who will be able to give you in-depth advice on managing your finances.


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