Advice on joint bank account needed pls

peanutnutter

Hello

I hope someone can help. I am trying to sort out my finances and also those of my partners.

Trouble is he is still named on a joint bank account with his ex wife. She uses it as her day to day bank account. She is bad with money and the overdraft is creeping up and up (£2500).

How come the bank can increase their overdraft by just consulting her? Is that right?

He rang her ages ago to ask if she would agree to take him off the account. She said yes but they both need to sign a letter. I really can't see why she would agree to take on the debt (it IS her debt she has ran up, though I appreciate my partner is legally responsible for half)

On the flipside, does this mean any salary she pays into the account he could take out? Surely that money is legally his too? (not morally though, that would be mean to take her wages wouldn't it? but by not sorting out the situation they have both left themselves in a vunerable position.)

So what to do?

Leave things as they are?

Or have the account frozen?

Or ask her to take on the debt?

DOntt want to make matters worse

Thanks

td_007

peanutnutter wrote: »

How come the bank can increase their overdraft by just consulting her? Is that right?

Yes either can request changes

peanutnutter wrote: »

On the flipside, does this mean any salary she pays into the account he could take out? Surely that money is legally his too? (not morally though, that would be mean to take her wages wouldn't it? but by not sorting out the situation they have both left themselves in a vunerable position.)

I can see those tiny evil cogs turning Indeed he can take out all the money and even run up the overdraft. Maybe why not if there is no agreement to close the account?

peanutnutter

he has rang her and now saying she won't take on the debt

she just got paid today:p

if she wants to share the debt then perhaps my partner could withdraw half of her salary to pay half of the overdraft off.

Extant

peanutnutter wrote: »

On the flipside, does this mean any salary she pays into the account he could take out? Surely that money is legally his too?

Yes. He could spend it all if he chose.

So what to do?

Leave things as they are?

Or have the account frozen?

Or ask her to take on the debt?

Exercise tact - asking her to take on the debt may make her un-necessarily aware of his joint liability - not good if she's unfriendly etc.

Just ask her to do the letter with him and send it to the bank himself. Be as nice as possible, just put it across as being to sever the last ties, make sure it's all hers etc.

Extant

peanutnutter wrote: »

he has rang her and now saying she won't take on the debt

she just got paid today:p

if she wants to share the debt then perhaps my partner could withdraw half of her salary to pay half of the overdraft off.

He needs to approach the bank and find out what sort of joint account dispute process they have, and how they will allow him to resolve the issue.

How much does she get paid?

Would he be willing to pay at all in order to rid himself of the issue?

td_007

peanutnutter wrote: »

he has rang her and now saying she won't take on the debt
she just got paid today:p
if she wants to share the debt then perhaps my partner could withdraw half of her salary to pay half of the overdraft off.

That could in reality turn out to be pretty messy.

See here for some advice: http://www.monetos.co.uk/investment/joint-accounts/terms-conditions/cancellation-disputes/

If your bank offers to suspend or require individual authorizations for any banking activity then your partner will then have a greater say in the matter.