I need some advice regarding my husbands bankruptcy

Mike_St_Helens

NekoZombie wrote: »

hehe, which mist is that? :rotfl:

:rotfl: Theres all colours flying round hun ! Maybe it was the knock ?

NekoZombie

blind-as-a-bat wrote: »

the way i read it the acount is overdrawn because the bank refused to stop the standing order before the BR wich from what i can see they are not allowed to do they surly cant put it into the terms of credit agreemant as this would tie you to there bank removeing your freedom of moving if you wished so on what grounds did they refuse? dont make sense but then banks never do :-)

I do see your point, but HSBC have done it to the OP, and to me, and no doubt to others, so this clearly isn't an isolated case. I have no doubt they have been questioned about it too, but where banks are concerned, things don't usually stack up in the consumer's favour. It'll be there in the small print somewhere.

gettingitsorted

Mike_St_Helens wrote: »

:rotfl: Theres all colours flying round hun ! Maybe it was the knock ?

I liked that program :rotfl:

allofadither

I removed my name off our joint bank account just prior to going BR so the account wouldn't be frozen. My OR was very 'interested' to hear that I had done this, but advised that even if my name had remained on the account any overdraft would automatically pass to my OH and would not be included in my BR. I think this is the same situation for the OP...the reason the account is overdrawn is no longer relevant...the fact that it is and her name is on it means she is now liable for the debt.

Bakeybadoo

About the DD and SO thing, I had one with Egg and cancelled it with the bank but it was still taken out. Called Egg to rant and they said that if you cancel a SO, you are supposed to request that THEY cancel it and not yourself. It's up to them to cancel it.

I went back and forth with them and Abbey (our bank at the time) and each contradicted the other, Abbey saying they had cancelled it and that was good enough, Egg saying it couldn't be cancelled without their say so and that Abbey was at fault for telling me it was cancelled when it obviously wasn't.

I couldn't believe it and claimed under the DD guarantee and Abbey gave us the £50 payment back. Thankfully we didn't incur any charges for that payment going out but it was a victory for the 'small people'.

Dunno how it works with charges added and getting them back though and I don't know if SO are protected the way DD are, with the guarantee.

zaphodbeeblebrox

I'm back, thankyou for continuing to discuss this for me, I had a family emergency so wasn't able to get back until now.

The Bank account = joint. The loan = in hubby's sole name.
The S/O was taken out before bankruptcy paperwork was finished.

I still don't know where we stand, but hubby is fed up with it all and feels we should just pay it. Somehow.

gettingitsorted

zaphodbeeblebrox wrote: »

I'm back, thankyou for continuing to discuss this for me, I had a family emergency so wasn't able to get back until now.

The Bank account = joint. The loan = in hubby's sole name.
The S/O was taken out before bankruptcy paperwork was finished.

I still don't know where we stand, but hubby is fed up with it all and feels we should just pay it. Somehow.

Im sorry to say that the bank can hold you liable for the debt then.

Richard_S

zaphodbeeblebrox wrote: »

I'm back, thankyou for continuing to discuss this for me, I had a family emergency so wasn't able to get back until now.

The Bank account = joint. The loan = in hubby's sole name.
The S/O was taken out before bankruptcy paperwork was finished.

I still don't know where we stand, but hubby is fed up with it all and feels we should just pay it. Somehow.

Hi zaph,

Are you sure it's a SO and not a DD? Different rules apply and SOs are not used as often now because DDs are more flexible for the banks, the amounts can be varied as can the dates they're taken. A DD also gives the customer more protection under the DD Guarantee Scheme.

Has the DD/SO now been cancelled because if not you'll need to do that to stop them taking the loan repayments and charging you for unauthorised overdraft and interest. You are not responsible for your O.H's loan repayments but you will be liable for any overdraft that was incurred prior to your O.H's bankruptcy.

If the majority of the overdraft has been incurred by the bank adding charges then you may well be able to claim that back because they are basically illegal charges. If you can clear the overdrawn balance then it would stop further charges being added and give you some breathing space to reclaim the charges.

Hope this helps,

Richard