Overdrafts - issues with them!

littlestar1981

Sorry if this is the wrong thread to put it in

I have still running a joint account with my ex partner. It has a £2500 authorised overdraft.

Well we split and I was left with the rest of our debts as he never worked so the £7k visa was in my name, but there was this joint overdraft, currently at £2490.

Each month £38 approx interest is charged (which he refuses to pay so I end up doing) which sends it over the limit and then bank charges are applied. My ex says he will pay his half 'when he wants' i.e. next year. I'm worried how this affecting my credit rating.

I have contacted a solicitor who says we are both jointly and severably liable, so even if I paid my half (which my parents will loan me!) I could still be chased for the rest.

Is there anything I can do to prevent the debit interest being applied at least?

ollyshaw

Ouch, the only thing I can suggest is to keep your head above water, ie pay £40 a month to make sure you dont get the bank charges.

Olly

littlestar1981

Thanks for that, I do find out how much the interest each month will be and then pay that so it doesn't get bank charges!

I begrudge doing that though as I should be paying it evenly with my ex. I'm starting to wonder whether it's easier to pay it all myself..... won't that then remove our 'Financial Association' on my credit files too?

M_Thomson

littlestar1981 wrote:

Thanks for that, I do find out how much the interest each month will be and then pay that so it doesn't get bank charges!

I begrudge doing that though as I should be paying it evenly with my ex. I'm starting to wonder whether it's easier to pay it all myself..... won't that then remove our 'Financial Association' on my credit files too?

Once you have paid it off in full and closed the account in full, then yes it will remove it. While it is open though and it is going overlimit, both of your credit ratings will be taking a hit.

littlestar1981

Oh that doesnt concern him, he'll let his rating slide! Do you think I would just be better off paying off the entire thing myself? My parents would bail me out (again) so i'd be paying it interest free rather than paying 40 a month to Halifax.

M_Thomson

littlestar1981 wrote:

Oh that doesnt concern him, he'll let his rating slide! Do you think I would just be better off paying off the entire thing myself? My parents would bail me out (again) so i'd be paying it interest free rather than paying 40 a month to Halifax.

I am no solicitor, if I was in your position and my ex wife/girlfriend refused to pay and I could pay it I would. That is just what I would do though. How long has it been going overlimit?

MarkyMarkD

If he has money and is just being a tw*t, then pay it off yourself (with the family loan) and sue him for his share via the small claims court.

If he hasn't got any assets, then I'm not sure it's even worth claiming it from him, and you still might as well pay it off yourself.

If he has got earnings, though, the court could order him to pay it in installments which would be better than nothing for you.

littlestar1981

M_Thomson wrote:

I am no solicitor, if I was in your position and my ex wife/girlfriend refused to pay and I could pay it I would. That is just what I would do though. How long has it been going overlimit?

It's been overdrawn for a couple of years (we split a year ago) and twice in the past year it's gone over the overdraft.

The most annoying thing is the bank (well an advisor) agreed I could pay my half then put the account in his sole name but then they decided they couldn't do that after all. Grrr.

littlestar1981

MarkyMarkD wrote:

If he has money and is just being a tw*t, then pay it off yourself (with the family loan) and sue him for his share via the small claims court.

If he hasn't got any assets, then I'm not sure it's even worth claiming it from him, and you still might as well pay it off yourself.

If he has got earnings, though, the court could order him to pay it in installments which would be better than nothing for you.

Would it be worth suing for £1250? He has no assets that I know of. AS for work, who knows, he never worked in the 4 years we lived together so.....

I just hate the financial association on my credit report more than anything else.

M_Thomson

littlestar1981 wrote:

It's been overdrawn for a couple of years (we split a year ago) and twice in the past year it's gone over the overdraft.

The most annoying thing is the bank (well an advisor) agreed I could pay my half then put the account in his sole name but then they decided they couldn't do that after all. Grrr.

You wouldn't be able to do that without both or your signatures. If you have just gone overlimit 2 times, your credit rating while not as good as it should be will be better if you can pay it. Then, like Marky MarkD says, you could sue him in a small claims court. Do take legal advice though.

littlestar1981

M_Thomson wrote:

You wouldn't be able to do that without both or your signatures. If you have just gone overlimit 2 times, your credit rating while not as good as it should be will be better if you can pay it. Then, like Marky MarkD says, you could sue him in a small claims court. Do take legal advice though.

We had both signatures!! they just changed their mind as the account was overdrawn (well doh, why else would we be asking)

The free solicitors advice was 'you're both jointly and severably liable, no point just paying your half because when he doesnt pay his you'll be affected just as much as you are now. complain to the halifax (coz they changed their mind) and hope for some 'goodwill' or just pay the lot'