Husband reduced overdraft, expects me to take debt on

missamoo

Me and my husband are going thru a separation. I have always stayed at home and looked after the children while he has (occasionally) gone out to work. We have mostly lived off tax credits. Because of this we have been living out of our £1500 joint account overdraft for years.

Last week as he realised that the separation was a reality, first of all he tried to clear out the overdraft to leave me with no money at all (I have been left to bring up 3 children and it is taking me a while to sort out benefits etc). He then thought better of it and put £750 back, and also transferred £350 from our savings account which, after a couple of bills had gone out, left the overdraft at exactly £749. We separated on the 16th September and no wages of his (he's self employed, cash in hand) have gone in since 30th August. He then left me with a form to sign to put the account solely in my name. (which i didnt sign)

With the account £750 overdrawn he decided to reduce the overdraft facility to £500. This means that since the overdraft was reduced we have been accruing £5 charges daily plus bounced payments amounting to £50. I can't change the overdraft limit back to the £1500. I haven't got any money to clear off the excess over the overdraft. He's refusing to put any money in the account unless I put some in as well, he says he'll match whatever I put in. He's working and living rent free with his mum and dad. I have 3 children under 5 including a special needs child to provide for from benefits.

I don't want the debt on the overdraft to go up and up in my name as well as his, but I can't clear the debt. What can I do? i can't take my name off the account without his consent. He refuses to pay any money in unless I do. Apparently he has the money to match anything I pay in. He reckons because he's left our home that they won't come after him for the money. Any tips gratefully received.

Elsewhere

Try posting this in the Debt-free Wanabee forum http://forums.moneysavingexpert.com/forumdisplay.php?f=76

The folks there are the experts!

Emmzi

contact the bank and advise them of his new address

he's trashing both your credit ratings

sit tight

puppypants

Sounds like a right charmer. Congrats for getting rid!! Hope everything works out well for you and no advice to give but (((HUGS))).

Rosiexx

dirtysexymonkey

why are you using your overdraft if youve got savings? use them the pay it off!

is he paying maintenance? if not get onto the csa and force him!

clearingout

it sounds like early days so CSA involvement is unlikely. You can leave the overdraft and start up a new account elsewhere (assuming you can get a new account) and have all your benefits transferred over to that. The overdraft will then just sit there. Both of you will be 'chased' to pay although it is likely they will chase the person who responds to them more than the person who ignores them. You can offer to pay back at a small amount each week/month - the CAB would help you with this, I think. I have to say, my ex and I ignored our joint overdraft and it eventually went to debt collectors and was finally paid when the house was sold. Yes, it trashes your credit rating.

I wouldn't, personally, use any savings to pay it off at this point - but that's a judgement call you need to make and it's about what makes you comfortable. It all depends on whether or not you intend to get a mortgage in the immediate future and just how much you value your credit rating vs. having a small pot of money to fall back on if you need to. I personally preferred the money to fall back on but if you can't sleep at night with the overdraft sitting there, just use the savings to pay it back!

Re: going to the CSA - if he's self employed and working cash in hand you don't stand a hope in hell of getting any money through them. You need to try and come to an arrangement with him - and learn not to rely on maintenance money for paying for essentials. Sorry - not what you wanted to hear. As it stands, he doesn't sound like he has much conscience so this may be an on-going struggle for you. Have a look on the child support board for further assistance with this.

onlyroz

Would the HMRC be interested to hear about his "cash in hand" work?

Dave101t

and you married him?

peachyprice

clearingout wrote: »

You can leave the overdraft and start up a new account elsewhere (assuming you can get a new account) and have all your benefits transferred over to that. The overdraft will then just sit there.

This is the best advice, get yourself down the high street and open a new account, even if it's just a basic account so that you can start afresh without the OD eating into your money.

pebbles88

Dave101t wrote: »

and you married him?

That's not gonna help op at present. What's done is done & can't be changed, she's asking for advice with what's happening now.

Op, as others have said, get yourself over to debt free wannabe boards and the old style one. They'll have lots of ways to help you get this mess in order. X

clearingout

Dave101t wrote: »

and you married him?

this kind of judgement is not helpful in these situations. Personally, I married a lovely, kind, giving and gentle man. There is no way I could have predicted the monster he would turn into once he'd had an affair and couldn't deal with the guilt. Your eyes would pop out if I told you what he'd done and you'd probably make some sarcastic comment about it being my fault and how didn't I know. Hindsight is an amazing thing. Love is totally blind.