When a credit reporting agency keeps track of a person’s financial activity, the company will also include any name differences submitted by a lender. This means that while a person may have an original legal name on file, two or three other names can be included, depending how a lender reported the information to the agency. These other names a referred to as “aliases.” When a borrower then requests a copy of his credit reporting agency record, those same aliases will appear as other names used by the person when applying for a loan or credit line.
The alias issue can pop up frequently where a person may have changed her name due to marriage or if a couple has a joint account on file for a loan or line of credit. In such instances, the name difference or other co-signer will appear on the records the agency uses as well as what is produced upon request.
In the case of a co-signer situation with a joint account, an added name gives a lender the ability to also look up that person’s credit history and add it to the consideration of the original borrower’s application. That said, when a report is requested, only the requesting individual’s information will be provided. So a borrower’s application can, in effect, be influenced by a co-signer’s history without that borrower ever knowing what the issues may have been that were flagged on the co-signer’s record.
Where a co-signer’s name and record no longer applies to a given situation, an affected individual should get the information removed. To do so, the individual will need to put a statement in writing to the credit reporting agency that the co-signer or second party is no longer involved or financially connected. This statement is referred to as a “disassociation.” In doing so, the individual has legally made it clear to the credit reporting agency that the record needs to be updated.
However, in some cases, the lender or company that the credit reporting agency received the reference from continues to keep sending in the same incorrect information. This will cause the agency to again reflect the association in its records. To make sure this doesn’t keep occurring, a party should also contact the original lender to make sure their records are updated as well.
In terms of implementing a disassociation, the following sample letter can be used as a template to make the necessary, written request:
123 Any Street
10 June 2004
Dear Credit Reporting Agency Representative,
RE: Account Number 123456-7890
I appreciate your office taking the time to locate and provide me a copy of my credit reference record. Upon review, I have determined that the information referring to an Alice Natalie Marin is in reference to my former spouse who I am now legally divorced from. Due to this legal marriage dissolution on record, I no longer have any financial association or connection with Alice Natalie Marin in any manner. This person’s reference and information should be removed from my records promptly as a disassociation. Please confirm this action has been taken so that her information is no longer linked to my credit report and related records.
Requesting Party Name
Date of birth 1 January 1969
When the letter is drafted and ready to submit, the requesting party should make sure the send the communication to both of the following credit reporting agencies to make sure the disassociation process is implemented comprehensively:
Credit File Advice Centre
PO Box 1140
0844 335 0550
Consumer Services Team
PO Box 491
0870 060 1414
Customer Support Centre
PO Box 8000
0844 481 8000
See also U.K. Credit Report Request Letter