debt of partner - please help.

prettypinkprincess

DVardysShadow wrote: »

Not as far as I can see. They may have a reason, but you should check it out here first.

Are you sure they are not suggesting that he opens a basic bank account with another bank without overdraft to take pay and benefits? This isolates his overdraft in the old bank and stops them upsetting your finances by taking his pay and benefits. It makes sense to do that - but not as a joint account.

The letter says that they would take both our incomes into account as we are a couple (which is fair enough, i don't mind that) and that they would open a 'cap account' for us to pay a set amount into and from that they would take and pay all the people. The account would be apparently held with lloyds/tsb. I'm just a little worried now that it would be in both names - but i will talk to them about that when they come and see what they say.

Tixy

I agree you should wait and talk to them about it, if they are only his debts then really he wants an individual DMP rather than a joint one.

RAS

Hi

They must be assuming you have a joint account because they are visiting you both.

Open a new basic bank account in his name only, with someone to whom he owes no money.

guinnessgirl

prettypinkprincess wrote: »

The letter says ... that they would open a 'cap account' for us to pay a set amount into and from that they would take and pay all the people. The account would be apparently held with lloyds/tsb. I'm just a little worried now that it would be in both names - but i will talk to them about that when they come and see what they say.

Hi prettypinkprincess. I work for CAP and can tell you a bit more about what a CAP Account is. It's not actually an official bank account - it is an internal account that is administered by CAP and is purely there for the purposes of making your repayments to creditors easier for you. What happens is that you pay into it once a week/fortnight/month (whichever suits you best) and that money is then used to make the debt repayments to the creditors on a pro-rata basis at the right times each month.

Hope that helps ease your worries a bit?