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Joint account and debt
Charleighcharger
Posts: 2 Newbie
My wives work colleague is separated from her husband. When they separated the joint account was 3k in credit. Now it is 6k in debt. The bank have told her they can not take her off of the account because of the debt. What is her best option and is the bank right in letting her get more in debt.
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Comments
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Yes.
Both parties are responsible for a joint account.
It should have been closed/settled when they separated0 -
Unfortunately that option wasn't taken. And the debt is getting bigger.0
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In which case her best option now is to belatedly advise the bank that the account is in dispute and insist that they freeze it.Charleighcharger wrote: »Unfortunately that option wasn't taken. And the debt is getting bigger.
This still leaves the debt to repay (between them) but stops it getting any larger.
It will also prevent her husband from continuing to use the account so she should expect some grief on that front, and probably a lack of cooperation regarding who repays the debt and when....0 -
In which case her best option now is to belatedly advise the bank that the account is in dispute and insist that they freeze it.
This still leaves the debt to repay (between them) but stops it getting any larger.
It probably won't stop any interest or charges though, those will remain due until the debt is repaid.urs sinserly,
~~joosy jeezus~~0 -
Just to say also that each party is jointly and severally liable this means that if the husband won't pay the wife is liable for the whole amount and vice versa0
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