Joint Account Problems

Mark1234

My 'living partner' and I have a joint account together which was set up to pool money to pay the bills every month. She has now taken it upon herself to set up a huge overdraft and withdraw the funds.

I have told her I want my name off of the account but cannot get her to sign it over so she is the only account holder.

Will I end up having to pay back this money even though I have not seen a dime of it??

If it has to go to court I am willing as we are talking £1500 which I cannot afford to pay.

Any help much appreciated!

redsquarelady

if it was a joint account wouldn't it need your signature as well as hers to get the overdraft?

Mark1234

Apparently not, it was something that was done over the phone by her even though I am the lead name....

jackieb

redsquarelady wrote: »

if it was a joint account wouldn't it need your signature as well as hers to get the overdraft?

I don't think so. I applied for an overdraft online (I have an online bank account with RBOS). We didn't need either of our signatures. It was surprisingly easy.

redsquarelady

sorry. I really don't know then, but i would have thought your both liable. Have you tried talking to your bank and explaining to them? (but i presume they don't want to know as they are making money off the overdraft)

this will bump your post up and someone who knows more could help you:o

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Mark1234

Thanks for your input anyway Red.

I'm hoping it will just be signed over to her. Failing that I will just freeze the account and go to the small claims court.

All the withdrawals are plain to see as they are all done with her card.

regularsaver1

Some banks, if not all, will not agree to you being removed all the time the account is overdrawn. Only when back in credit, and then the bank would have to agree to it being in her sole name

As a joint account, you are both equally liable. As you both have cards to do withdrawals, you can both apply for an overdraft ect

Mark1234

Ehhhh, thats news to me. Can anyone confirm this??

regularsaver1

When applying for a joint account you sign to say that you are aware that you have a financial association with each other and that you are liable, as you are also with a mortgage and loan

Why will she not clear it?

jackieb

Mark1234 wrote: »

Ehhhh, thats news to me. Can anyone confirm this??

http://www.debtquestions.co.uk/legal_jointseveral.php

Mark1234

Well she may, but all the time I have this hanging over me and I like my money to be organised.

If they will not take my name off of the account maybe she can open a new personal account where they guarantee a matching overdraft so she can clear the joint account.