Seperating finances

sharronej

Hi all,


I'm not sure if this is the right place for this question so admin feel free to move my post!


I couple of years ago I opened a joint bank account with my daughter who was at University - this was mainly done so that I could stop her from going overdrawn and running up an overdraft - what actually happened was she used me as her overdraft - lesson learned won't do that again!


Can anyone tell me how I 'dissolve' our financial relationship now she's left Uni and is (hopefully) standing on her own two feet? I thought somebody on this board may have already taken this step? Forgive me if I'm wrong or have caused any offense with my question.


Thank you x

TheGardener

I'm not sure if you are on the right board either but what the heck.
Presumably you have closed the joint account? If not - you can simply ask to be removed from the account (I did this with my ex partner - the bank did it for the asking) BUT they will only do it if the account is in credit or zero balance.
Then, you can put a note on your credit file saying that you are no longer financially linked to your daughter. I think the Experian web site tells you how to do that.

arcon5

Pay off the overdraft / withdraw any cash.
Close the account.
Easiest way.

sharronej

Thanks guys, luckily the account is in credit ... due mainly to me checking every morning and transferring any necessary funds but mainly helped by my daughter losing the bank card! I need to transfer a direct debit and then I'll get it closed and I'll contact Experian.

Experian_company_representative

Once the joint account is closed you can register a disassociation with Experian using our online financial connections questionnaire. You'll have to contact the other two agencies separately.

James

TheGardener

Well I'd make sure you do it quick sharp before the replacement card arrives and before she has chance to hit the January sales...:D

sharronej

Haha The Gardener Absolutely!!