BR and joint accounts

Snowflake101

I am now 5 years post bankruptcy, January 2026 will be my 6 years up point.

I went bankrupt a few months before I met my now spouse. We are getting to the point that we really need a joint account as handling the bills is getting messy with transfers here, there and everywhere. Spouse had some debt prior to us meeting and they have now undergone a self managed DMP so last year they accrued some defaults. They are aware that this means their credit report is screwed for 6 years.

We live in the house that my other half owned before we met. We both have Monzo accounts and I have a Halifax basic account that was opened just after BR. I have a couple of credit cards which I have used to improve my credit rating and managed very carefully but it isn't that good really as Halifax still won't let me upgrade my bank account to a standard one. 

How much damage would it cause if we were to get a Monzo joint account? Would it mean that my credit report is destroyed for another 6 years?

molerat

With a joint account you will be financially linked so any application search on you may also involve a search on their record.  It would not "destroy" your record but increase the risk of rejection for some products.  Joint accounts are not generally recommended where one party has a poor credit history.

sourcrates

Its quick and easy to transfer money between accounts on any banking app, why bother with a joint account at all?