Squeaky Floors (chipboard) with stud walls?

no don't cut back the floors ..stud walls are normally built over doubled joist ..but not all ways And if you cut the flooring through you may make it worst ..nowadays we know more about how chipboard reacts in certain situations ..all chipboard floors should be glued in their tongues ..but i doubt if your were ..all so they are now screwed down ..its the floor moving up and down on the nails that make the most noise .. however bee extremely care full if you try to screw them down ...as there are water pipes and live cables under the floor . i normally screw down as close to a nail as i can ..as nails are normally in a safe area