i am about to go bankrupt on 10/4/08.. i have a joint account with my ex husband which we are trying to seperate. ( a slow process ).there is an overdraft on the account which is to date untouched.if he draws the money out from the overdraft, when i go bankrupt will he be chased for all or only half?.he has set up a new account for himself but they are dallying over the overdraft process due to paperwork being sent here there and everywhere.
He will be chased for all of the monies owed to the bank as he is jointly and severally liable for the debt. Can I ask what you mean by him drawing the money out from the overdraft please?
For an informal chat about any financial difficulties, or advice as to the options available, I can be contacted via my website - www.melaniegiles.com
hi, he has set up a new account for himself but the bank are taking ages to finalise it.the overdrft balance on our current account is zero.he has told me he considered using some of the overdraft until his new account is ready.I have not listed an overdraft on my debts so where do i stand if he uses it? I don't wish to declare bankruptcy and get chased for money after.
If you are bankrupt, then the bank will chase your partner for repayment of the debt, so if he is going to draw against the overdraft it will be him who will be paying it back.
For an informal chat about any financial difficulties, or advice as to the options available, I can be contacted via my website - www.melaniegiles.com
joint bank accounts
Posted - 08 April 2008 : 11:45:19
