WARWICKSHIRE MAN VICTIM OF ID FRAUD FROM EX
MyEquifax highlights the financial implication of relationship break-ups
London, May 13 2004 – Identity fraud is a growing threat to consumers and many assume the risk is from strangers, but the reality is the threat can often be much closer to home. Mr John Stanley* of Bidford on Avon, in Warwickshire was a victim of identity fraud when his ex-partner decided to use his surname to gain credit. Luckily, Mr Stanley sought advice from MyEquifax, which helped him repair the damage that had been done.
Mr Stanley recalls: “I have lived at my current address for over 20 years and worked really hard to ensure I have an excellent credit rating. But when I applied for a credit card from Goldfish, to my amazement, I was refused. This had never happened to me before so I didn’t understand what the problem could be.
“I decided to apply for a copy of my credit file from MyEquifax, which revealed that my former girlfriend had applied for a £30,000 loan in my name. I was stunned because she’d left me seven years ago. As I understand, she had decided to start a new life abroad with her new partner and because they were both already in debt, she used my name and address to obtain a loan for the deposit on their new house.
MyEquifax advised Mr Stanley to apply for a Notice of Disassociation, which means lenders will see that he is no longer financially associated with his ex-girlfriend and any credit agreements she has. He also registered with CIFAS, the UK’s fraud prevention service, which protects consumers from ID fraud. Lenders will be alerted that an individual has been a victim of fraud, prompting them to conduct further checks before approving an application.
Mr Stanley continues: “It’s terrifying to think that I would have been unaware of this debt until demands for money came through the door. I only found out because I was refused credit, but luckily, MyEquifax has helped me return things to normal. One month later, I applied for my credit file again; it was clear and my second application to Goldfish was accepted.”
Neil Munroe, External Affairs Director for Equifax comments, “When a relationship breaks down, it is always a stressful time and people don’t want to worry about their financial situation as well. It is essential that individuals are aware of the financial risks a former partner poses, as Mr Stanley’s story highlights.
“Although they had never shared a joint credit agreement, as they had been living together for a number of years they were automatically linked by same surname at the same address. Fortunately, Mr Stanley wasn’t liable for the credit, but he was concerned that his former girlfriend could fraudulently use his address again in the future.
“We always advise consumers to obtain their credit file available from www.myequifax.co.uk when they split up from their partner, so that they can assess their financial commitments. If there is a joint financial agreement with an ex, it is advisable to get a Notice of Correction put on your credit file to explain the situation, as lenders will consider it during the application process. Breaking up is hard emotionally, but it is better to take care of your credit file at the time, rather than living to regret it later down the line.”
END
April 2004
* Name has been changed.
