Joint account in O/D with ex, can't open account 2 move o/d due to 'debt management'?

ladyrider260

I've a joint account with the ex which is overdrawn. The remainder is mine which I'm paying off. Haven't payed any off recently due to having a baby which involved a long stay in hospital, so had a few 'nudge' letters.

Anyway, ex on my back as our divorce has just come through & he wants to set up a joint account with his fiancee as they are planning to get married soon. He says the joint account is ruining his credit rating & wants it sorted.
So....I can't afford to pay it off in one go & went into the bank to see if I could open a current account with an overdraft & 'move' the debt so the joint account can be closed.
I was declined due to something being in debt management?! I thought she meant the joint account, but the assistant looked through the history & said that there were no defaults on the account & she couldn't understand why I couldn't open an account.
She asked of my history. I have no credit cards, mortgage or debt but this one & my credit history is pretty squeaky. I was instantly offered a credit card with a 2k balance when opening a savings account with another bank!

She then went on to say that it 'may or may not' be due to my ex, but she couldn't tell me. Either way it affects me because we are still financially linked.

Anyone any ideas what it's about? What is 'debt management'? Could it be something I've forgotten to pay?

Any help appreciated.

ladyrider260

Anybody please?

Blackruby

Hey hun, don't panic, it's a bit late so the more knowledgable people are probably in bed. I'm not an expert but if your credit file looks good enough to be offered a cc on your new account, then it has to be your ex, you'll have to call him and explain verbatim what the lady at the bank said.

boredofbeingathome

I think it would be best to get your credit score and see if he is still linked to you financially. You can apply for a dissociation notice and hopefully that will help.
Just a thought, if you have no joint debts with him, then that should be easier to do.

MyLastFiver

It is quite common for branch staff to know nothing about collections/delinquency procedures.

It may be that the account is delinquent because it is over overdraft limit, or has insufficient credits going in. Just because they haven't issued a Default Notice doesn't mean that the account is not in the collections system somewhere (it must be if you're getting "nudge letters"??).

I would open an account with another bank (without an overdraft) and make monthly payments of whatever you can afford off the old overdraft.

Is all of the OD your spending? Because if not then your ex should be paying his contribution too.

tallyhoh

Someone will be along in the morning as its quite late, they may know. However I was wondering if, although the account is okay, your ex is in "debt management". This generally means he is in debt & repaying it off with some sort of agreement with his creditors. Some companys offer to help people with this by writing to his creditors & making agreements, try & freeze interest & charges etc.
It could even be an IVA (individual voluntary agreement) where a sort of "contract" is drawn up between the person in debt & his creditors to repay what they owe, normally lasts 5 years.

You could try asking your ex but in the meantime please send off for a copy of your credit history through Experian or one of the other companies, if you apply online it only costs about £2 or they quite often do it free for a time.
This should give you some idea if there is anything against your name.
Google "Experian" & it will tell you what it entails.

elaina79

It might be worth trying to get hold of your credit reports to see if there is anything on there that you are not aware off. As your still linked to your ex it may be something to do with him.

ladyrider260

Thanks guys. The girl said its not the account thats in debt management as she couldnt see any problems with it.
ps..i bumped it last nite, hence the 2nd post.