We’d like to remind Forumites to please avoid political debate on the Forum.

This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide

seperation

NEIL77
NEIL77 Posts: 53 Forumite
Part of the Furniture Combo Breaker
in Budgeting & bank accounts
Hi there,
My Wife and I are separating and we have a joint account, Halifax have said we need to pay off the O/D first £1700. My query is can I open another account and transfer the OD in just my name or any other advice appreciated (she wants this sorted just as much as me and has agreed 50/50 on everything any advice ?

Comments

  • PeacefulWaters
    PeacefulWaters Posts: 8,495 Forumite
    If you're happy to take on the debt get a 0% money transfer credit card and pay a small fee to get funds transferred to clear the debt.
  • jonesMUFCforever
    jonesMUFCforever Posts: 28,898 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    Yes you can if your credit profile allows this BUT before doing this make sure that the joint account is formally closed or the other partner could run up the overdraft again, or get the account frozen.
  • grumbler
    grumbler Posts: 58,629 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    edited 19 April 2017 at 5:07PM
    ETA: separation
    NEIL77 wrote: »
    My query is can I open another account and transfer the OD in just my name or any other advice appreciated (she wants this sorted just as much as me and has agreed 50/50 on everything any advice ?
    Yes - if 'another' account has a sufficient overdraft limit.
  • eskbanker
    eskbanker Posts: 39,584 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Didn't think grumbler would post on this thread without correcting the title as per the spelling tips in his/her signature, must be in a good mood! :)
  • grumbler
    grumbler Posts: 58,629 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Damn!

    I did want to correct, but forgot.
  • eskbanker
    eskbanker Posts: 39,584 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    grumbler wrote: »
    Damn!

    I did want to correct, but forgot.
    And there was me naively thinking you were mellowing!
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 353.4K Banking & Borrowing
  • 254.1K Reduce Debt & Boost Income
  • 455K Spending & Discounts
  • 246.5K Work, Benefits & Business
  • 602.8K Mortgages, Homes & Bills
  • 178K Life & Family
  • 260.5K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16K Discuss & Feedback
  • 37.7K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.
Update Your Picture