what will happen if I don't close joint account?

norserose

Just wondering as I have a joint account with my boyfriend that is currently about £300 overdrawn. I haven't closed it yet,

a) because it would mean DP finding the money to get it straight

and

b) because I wasn't sure if it would make any difference whether I did or not.

Can anyone tell me what the score is? I think that's my last wuestion for the time being!

TIA.

Richard_S

norserose wrote: »

Just wondering as I have a joint account with my boyfriend that is currently about £300 overdrawn. I haven't closed it yet,

a) because it would mean DP finding the money to get it straight

and

b) because I wasn't sure if it would make any difference whether I did or not.

Can anyone tell me what the score is? I think that's my last wuestion for the time being!

TIA.

Hiya norserose,

My last answer too :rotfl:

If it's joint then your boyfriend will be liable for the outstanding balance; joint and several liabilty.

I would read blind-as-a-bat's thread on Lloyds TSB, when bat declared bky the bank cancelled the overdraft and started charging unauthorised lending fees etc etc, and his Bat Woman is still liable for repaying the overdraft.

These fees are illegal and at some point you could reclaim them but it's probably more hassle than you need at the moment. Is there any chance you can repay the overdraft before you declare bky?

Richard

norserose

:doh: Hmmm, looks like it might be best to try to get it cleared before then then. DP will be soooo pleased...

Thanks for the advice! WIll check out TSB thread.

Richard_S

blind-as-a-bat wrote: »

It will be one less thing to worry about post BR but if asked by OR after BR your OH payed it of wouldnt want them thinking you favoured a creditor would we now:rotfl:

I guess rose would have to tell a little white lie without "batting" an eyelid