taking my name off the joint account???

clur84

Hi me and my partner have a joint account we used to use it to pay bills ect when we lived together. we now live apart and the account is overdrawn but it is all his debt as i payed mine off.

Can I take my name off the joint account and just turn it into a current account for him or can you only do this when the account has no money owed on it?

Thank you

oldwiring

From what you write I assume the A/c is overdrawn. The mandate you both gave the bank most likely makes you and your partner jointly and severally for the debt. this means that you are responsible for the repayment of the whole debt and your partner is as well. IMO the bank's decision would depend on its view of your financial statuses and its need to recover its money. Is the account both to sign or either to sign? The risk with the latter option is that either one of you can, until the mandate is cancelled, increase the indebtedness or with an account in credit remove the funds.

jonesMUFCforever

You are both jointly and severally liable for the overdrawn balance even if it all relates to spending by your ex.
If you cannot get an agreement from him to take over the debt then at the very least ask the bank to block the account - stating there is a dispute.
This means that neither of you can make any withdrawals until the dispute is settled.

clur84

Thank you for the replies, its not that he wont sign or anything I was just asking to find out if both of us needed to be there or if you can change a joint account to a solo account.