Question about joint bank account after BR

pootle2005

My partner is going bankrupt, it's the only thing we can do now,my question is, recently we added my name to his account - (when we still believed we could get out of this stupid mess!) but we now realise that BR is our only option, but as it's my partner who will be going bankrupt what happens with the overdraft? will the bank still expect me to repay the whole thing? or a certain amount? and how do I do this when the only income I have is Child benefit and Child tax credit?

tigerfeet2006

The OD will fall to you to pay I am afraid. You will have to come to some sort of deal with the bank which they may or may not accept.

When your OH goes BR and you do the SoA it might be worth adding some wiggle room to see if you can use some to help pay it.

dack_2

Hi,

Depending on the size of your overdraft and other personal circumstances you may find that a DRO (Debt Relief Order) maybe something that can help you.

See the DRO sticky at the top of the Bankruptcy thread.

dack

Merry_Gentry

Is there any way you can pay off the overdraft before he goes bankrupt?