Does this affect MY credit score?

Question

If my parents have bad credit will this affect MY credit score because a) I lived at the same address as them and b) I have the same name as my father.
I recently checked my credit score and it flagged some things that I know nothing about. I did put in all my details that are exclusive to me such as my SS and DOB etc.
If I apply for a mortgage or something I just cant believe that I wouldnt get it simply because I have the same name as someone who has bad credit? Surely they go by more detailed information like SS# and DOB?

Answer 1

Their credit is not supposed to affect you. At all.



That said, it is possible. For instance, if your mom has a credit card and she added your dad as an authorized user, the card often (about 75% of the time ) also reports to the user's credit, even though your mom never gave her credit card company your dad's social security and your dad isn't actually liable for the debt since he isn't a joint account holder. Since you have the same name, its possible in a case like this that it would be reported to your reports as well.



Go get your free report at www.annualcreditreport.com. Launch disputes for anything that doens't belong to you. It should be deleted. If not, pursue it fruther withe the creditor and find out if someone fraudulently opened it in your name or if its a misunderstanding.

Answer 2

This happened to my sister's boyfriend (same name as his father). Chaulk it up to human error - people get in a hurry and don't take the Jr. or Sr. in to account. Easy to fix by proving the ss# on the bill and yours don't match. These items should then be removed from your credit report.



To answer your other question, your credit doesn't have anything to do with your parents credit. My mom and dad (and practically EVERYONE in my family) has TERRIBLE credit. In fact, my mom's bank won't even give her a ck card until her account's been in good standing for 3-6 months. My credit score is over 700. Just make sure they're pulling your credit and not your dad's.

Answer 3

The credit reporting agencies are run by humans who sometimes make mistakes, the problem with this is getting them to admit to a mistake. They also put down anything that is sent to them whether it is accurate or not.



I am currently embattled with false information that was reported by a past mortgage holder and even with proof that I provided they would not remove the false information because the former creditor refused to remove the info. They also said they would not accept my proof because it did not come directly from the reporting creditor to them (ie. they will not accept copies of a verification of mortgage from the mortgagee, only from the lending institution, eventhough the original came to you from the creditor.) I have to hire a lawyer and sue my old mortgage company to get the false information removed. WATCH OUT FOR TAYLOR, BEAN & WHITTAKER THEY ARE CROOKED LENDERS!



The credit bureaus are a money making institution and I would not be surprised if they get kickbacks from companies who charge their clients higher interest rates based on their credit reports.

Answer 4

Nobody else's credit impacts yours!! You could have a lack of credit if you've never had anything in your name before



if this is the case I would suggest putting some bills in your name, or taking out a loan, I would stay away from credit cards... they get messy!!

Answer 5

Nothing should be on your credit except your information. There can be mistakes on credit reports and should be checked. Your credit will not be affected by a name or where you lived...unless mistakes or someone used your information.