Closed Bank account with credit

Bri81

Hi just looking for a bit of advise.

I had a joint account with my partner. It had a £2k overdraft that .

My partner then ran into a bit of trouble with debt and she entered a protected trust deed that she is now 2 years into.

Problem is I went to renew my phone contact and failed a credit check. I have never really had debt and looked after my money etc... but on doing a report on myself I have a default notice for this bank account that is showing as closed but £2k in debt.

When my partner entered the trust deed we were told to leave this account as it would be covered by the deed. Now it looks like it has came and bit me in the butt!

Does anyone know of any way I can either remove this from my credit history or sort it out so that I can help my credit report?

Thank

[Deleted User]

It's not closed with credit - it's closed with a debt.

It will be removed 6 years after the default.

Bri81

Yeah sorry I have made a mistake with the thread title.

So I take it I just need to take it on he chin and there is nothing I can do o resolve? Even if I paid the £2k to clear it?

[Deleted User]

Paying the debt would allow it show as settled, which looks better.

But it depends on your wider circumstances as to whether that will make a sufficient difference. You also need to be alert to them seeking a CCJ though.

PRAISETHESUN

Having a joint account means that both of you are jointly liable for the full amount, it is not seen as each of you have a 50% share of the debt. Regardless of whatever arrangement she has entered into, the bank can still pursue you for the full amount, which is why the default is reflected in your credit files as well.

There isn't much you can do short of paying off the debt IMO. The default will still stand for 6 years either way (it sounds like you are in Scotland so it might be slightly different up there) but will show as settled which is better from a prospective lenders perspective.

Ben8282

The bank would have written to you advising that the overdraft facility was to be withdrawn and asking you to repay. Obviously you ignored this correspondence, instead choosing to abandon this account and cease paying any money into it. You presumably also ignored correspondence from the bank advising you of their intention to close and default the account due to non-repayment of the overdraft and no funds being credited to the account. You really only have yourselves to blame..