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Question Regarding Joint Overdraft
2520years
Posts: 285 Forumite
Hi everyone
I hope someone can help.
My ex and I have an overdraft from years ago that is unpaid. We used the account for a small business venture.
I got chronically ill, was divorced and I lost track of the business. A couple of years later my ex was declared bankrupt.
Can you guess my question? :cool:
I've received a letter asking me to come to a payment arrangement for about £6k. I am back working again now, but I'm about to be laid off. I'm happy to pay £1/month if they accept that, but have I become liable for the whole amount? How should I proceed?
I'd appreciate any guidance. I don't want to make a wrong move. :T
I hope someone can help.
My ex and I have an overdraft from years ago that is unpaid. We used the account for a small business venture.
I got chronically ill, was divorced and I lost track of the business. A couple of years later my ex was declared bankrupt.
Can you guess my question? :cool:
I've received a letter asking me to come to a payment arrangement for about £6k. I am back working again now, but I'm about to be laid off. I'm happy to pay £1/month if they accept that, but have I become liable for the whole amount? How should I proceed?
I'd appreciate any guidance. I don't want to make a wrong move. :T
0
Comments
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How many years ago?
Any idea if this is statute barred?If you've have not made a mistake, you've made nothing0 -
I've just looked at the statements they sent and the account itself was closed 27 November 2008. I know I haven't made any payments since then. Does Statute Barred apply to overdrafts?0
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If anyone else finds this thread, perhaps the link below would help. It has a template letter that puts the onus on the creditors to prove the debt is not statute-barred.
https://www.nationaldebtline.org/EW/factsheets/Pages/25%20EW%20Time%20limits%20for%20recovering%20debts/Page-06.aspx0 -
Yes it's statute barred. Send the letter.0
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Yes it's statute barred. Send the letter.
Agreed, was statute barred 2014, send the letter !!I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter0 -
Consider it sent! Thanks guys!0
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