Wages being paid into husbands account

brokemummy123

I’m gradually getting things lined up to prepare for bankruptcy probably in the new year but not 100% yet.

My husband and I have a joint account with no borrowing facility. We have both decided to have our wages paid in to our joint account and pay ourselves ‘pocket money’ out of it.

If I go bankrupt I would plan to remove my name from the joint account. I’d it still possible to have wages paid to a bank account that you’re not on? Equally is it possible to convert a joint account to a basic account as we don’t need a borrowing facility.

Would the OR think something odd was going on and that I was trying to pull the wool over their eyes, as obviously if my name isn’t on the joint account any more would I need to provide bank statements? I’m only doing this as a new budgeting approach and not intending to ‘hide’ cash.

mwarby

at the moment there are no checks on account name, but there are some due to come in in next year or so IIRC

A joint basic account would like link your credit files as I understand it

The only issue that springs to mind was if your husband was unhappy with giving the OR access to the account

TheGardener

If you plan to go BR you need your own account and your own wage paid into it. anything else will a) link your husband to you financially which is to be avoided at all costs and b) is just too complicated! - why not just have your own account?
I'm also not sure the banks would be happy with that and yes - its possible the OR would think it was a bit unusual.

You would be far better budgeting with your own account than trying to do it by proxy thought your husbands account.

If you need help to manage your money (mental health issues, gambling etc) then work out a way to get your husband to hold the card or the PIN so he can help restrict 'impulse' spending. However, giving even a loved one full financial control over your income has its challenges and creates a dependence that might not be a good plan...?

brokemummy123

Yes, absolutely. I hadn’t thought of it in that way. Thank you both for your replies.