I am considering the bankruptcy route and my banking situation is a little complicated so here goes.
I have my business account, current account and mortgage all with the same bank. My business account is overdrawn, my current account is also overdrawn but it is in joint names with my partner. I also have a secured overdraft against my mortgage. My house is in joint names with my partner and there is about 22k equity in my property.
Questions are, if I managed to get my current account back into credit which I am with my partner on. Could the bank transfer any remaining money from my current account into my business account to get my current account back into the red and then chase my partner for the money outstanding? or will they have to leave it alone?
And with my secured overdraft. Could the bank extend the overdraft themselves and clear any liabilities I have with them with my secured overdraft once they hear of my bankruptcy?
Hi Andy 73 Welcome to the forum, I see what you mean a bit complicated I'm not an expert, they will be along soon, With the joint account I would clear the overdraft and then close it down, (the overdraft) if you can show that the partner paid off the O/D there should not be a problem, but I stand corected,
The banks??
Posted - 08 June 2009 : 01:30:46
