Joint Account

Starry_Night · 6 February 2009 at 8:06PM

Hi everyone.

I am planning on going BR in the next two weeks. My OH and I have a joint account which is about £900 O/D. We realise that when I go BR the debt will fall to him. The thing is he cannot afford to pay this all off in one go, but could repay it over weeks/months. Do you think the bank would accept this and does anyone have any experience in this situation. How would this affect his credit file.

Any info would be gratefully appreciated.

Thanks.

SN

fiveyearplan · 6 February 2009 at 9:14PM

The bank would be foolish not to let him pay it off in installments.

Starry_Night · 6 February 2009 at 9:27PM

Thanks FYP. Will it affect his credit file though do you think as dont want this to happen!!

Starry_Night · 7 February 2009 at 8:07AM

Anyone else have any experience of this, please ???

fiveyearplan · 7 February 2009 at 9:28AM

That should really be the least of your worries. If he has good credit now then paying off an overdraft as long as he sticks to the terms shouldn't cause any problem.

Starry_Night · 7 February 2009 at 9:38AM

Thanks FYP, he does have a very good credit history. Think I am just panicking slightly about everything!!

fiveyearplan · 7 February 2009 at 10:03AM

Do you two rent or have a joint mortgage. If you show up on his credit file he may have to disassociate himself financially from you then you wouldn't show up on his credit file.

Starry_Night · 7 February 2009 at 10:10AM

We privately rent FYP

Joint Account

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