Ready, steady… save!
You don’t need a chart to join in. Here are 2 ways to record your savings:
1. Cross it off
Pop a chart into your first post. Saved an amount? Cross it out! Read more »
£0.01 £0.02 £0.03
2. Write it down
Skip the chart and add updates to your first post. Read more »
“Another +£3 saved today. Go me!”
Use +£ before each new saving so it counts towards your total.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
BR and joint accounts
Snowflake101
Posts: 40
Forumite
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?
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?
0
Comments
-
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.
Never associate with idiots on their own level, because, being an intelligent man, you'll try to deal with them on their level - and on their level they'll beat you every time.
Being hated by idiots is the price you pay for not being one of them.
Jean Cocteau 1889-1963
0 -
Its quick and easy to transfer money between accounts on any banking app, why bother with a joint account at all?I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter0
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 355.9K Banking & Borrowing
- 255K Reduce Debt & Boost Income
- 456.2K Spending & Discounts
- 248.4K Work, Benefits & Business
- 606.1K Mortgages, Homes & Bills
- 179.1K Life & Family
- 264K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.7K Read-Only Boards