DH's money situation needs an overhaul - extra question please

dumpy

The problem is that a joint account is just that, one that you can both have access to and that links you financially.

You may want to use it sensibly but if it's joint he also has the ability to alter DD, take out money etc etc.

You could do a bill account in your name only, he then sets up a standing order to transfer £x in every month. You know the bills are paid and can relax, he doesn't have access and you don't need to watch it like a hawk in case he spends it.

You don't get credit agencies linking you to his credit history.

Please, please be careful.

Dinah93

If you open a joint account, even a basic one that can't go overdrawn, his negitive credit rating will be transfered to you - don't do it! My ex has gone and gotten himself CCJs, luckily he is off my credit rating now as we have broken up, but my otherwise good record was very damaged by his spending.

You can have a bills account in just your name you know, since no one will be taking money out for spends, I would doubt your OH would mind putting his money into it for bills and then not having to think about them for the rest of the month.

Ladybez's thread is really heartbreaking, as she has tried so hard with an OH with a spending problem, and because they are financially linked she stands to loose a lot, but she is such a strong lady she won't let him walk all over her, and I really admire her.

However I do think her situation is very different, as her OH shows no sign of facing his debts or spending problem, and is making her the enemy, whereas yours seems scatty but happy to change.

Lilith1980

Thanks for your replies, I really appreciate the advice.

OK so the joint account doesn't look so great now, but a bill account in my name sounds like the best way to do.

Does it have to be a certain type of account (switch etc) so that direct debits can be set up?

Thanks again, this is really helping and I feel better in that I'm going to get this sorted

Any

dumpy wrote: »

The problem is that a joint account is just that, one that you can both have access to and that links you financially.

You may want to use it sensibly but if it's joint he also has the ability to alter DD, take out money etc etc.

You could do a bill account in your name only, he then sets up a standing order to transfer £x in every month. You know the bills are paid and can relax, he doesn't have access and you don't need to watch it like a hawk in case he spends it.

You don't get credit agencies linking you to his credit history.

Please, please be careful.

I think that is great idea.
Still gives you/him the advantage of having the sole account clear of DDs and you the piece of ming of not being financialy linked.

Any

No, just a standard account will do.

Dinah93

A standard current account is fine, just not a savings account as some of these can't have direct debits set up on them.

skintchick

I would also say get a bills account in your name. Work out how much he has to transfer to it on payday, and also get him to transfer a sum for savings as well.

Then the rest of his money is his issue.

But don't sub him and let him sink into his own mess if you have to.

Lilith1980

Hi all, thanks so much for your replies. I'm deinifitely going to get another account set up in my name only and then get him to transfer all his bill money into there.

Then it's up to him to make the rest last

dumpy

Good on you. Thank you for listening to us and acting on it.

Good luck with everything in the future and I hope it works out for you.

Lilith1980

No worries, it's great to have people on here who have had similar experiences and can give informed advice.

This will take a lot of worry off my mind :j

Cheers all