[Solved] Join account isseue

Hello Unknow999,

I understand on a current account overdraft both parties are responsible, jointly and severally. Therefore the responsibility falls on both parties OR just one of you which sounds very unfair considering it is a joint account.

I don't know whether you could negotiate with Lloyds Head Office for you to pay your half and for them to pursue the other 50% from your Ex independently from you.? In short, if your Ex continues to refuse to acknowledge the debt and act, I believe you, unfortunately, will shoulder the whole.

If your Ex does not do anything it will affect her credit rating. If you take action to pay it all, it is possible it will not affect your rating, you may need to check this point.

You need to request a "block" on the account and to make sure no money is going in OR out of the account.

You may also wish to consult with the C.A.B. over this as I believe, they are conversant with debt management and the problems it entails..

Definitely take advice from the CAB, but in the short term, perhaps you could suggest to the bank that you could use the half you have available to make some monthly payments? Are you paying your ex any maintenance? If you are, you might want to make sure you are paying the right amount to her? If for example you are paying more than you should, you could use that as a point of negotiation with her?

Hi
I am paying right amount of the maintenance. I can speak with bank and set up monthly payments. But in this case I still need to pay all amount. Because if I even pay my half I will still will be responsible for remaining balance. This is how the bank see this.
I can go through recovery process but they will put block or something like this to my credits for next 6 years.
To her also but I don't think she care.
I am the only person who speaking with bank regarding this account. But it looks like there is nothing what I or them can do to split this overdraft to half.

That's why I decided to write here. Maybe someone been in similar situation or know something which can help me.

I think that the CMS will take account of any debts that are in joint names, f you're paying them off and should adjust your maintenance payment accordingly. It's worth asking them.

Hi There,
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As already suggested I would speak with Lloyds and try and work out a payment plan, discuss clearing the whole amount rather than just half of it, you could then look at taking her to small claims court to recover her half of the debt, if it's a joint account and you can show that you both ran up the debt then you would have a strong case.
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GTTS

from CAB website 🙁

"If there is disagreement about a joint account

If you have a disagreement with another joint account holder, you should cancel the joint account mandate straight away.

If the mandate isn't cancelled straight away, any one account holder will still be able to get access to the account and the bank won't be able to refuse to pay them.

When you cancel a joint account mandate, the account will be frozen. All the account holders will then have to agree on how to divide the money up between them. If it's not possible to agree, the courts will have to decide how to divide the money up.

In England and Wales, if all the people pay money into the joint account, it is assumed that they all own the amount jointly, it doesn't matter how much each person pays in. For a husband and wife or civil partners, it is assumed the money in the account belongs to both of you, even if only one of you pays into the account. However, for joint account holders who are not married or civil partners, if one of you isn't paying into the account, it isn't assumed that that person owns the money. It can be difficult to prove that you own the money in a joint account if you aren't paying into it, unless you can show that it was the clear intention of the joint account to have a common fund which each person could use.

In Scotland, it is assumed that the money held in a joint account belongs to the person who paid it in unless it can be shown that it was intended to be held jointly. This rule applies whether the joint account holders are married, in a civil partnership or living together. In practice, all the joint account holders may be able to access all of the money, and any disagreement about who the money belongs to would have to be decided by the courts.

If you are not happy with the way your bank deals with your joint account, you should first make a complaint to your bank. If you are still not happy you can ask for further help from the Financial Ombudsman."

Hello Unknow999,

Is the C.A.B. website information regarding a joint account relevant to a joint account where there is an overdraft facility i.e. a current account?

I question if it is as the overdraft facility will enable a person/s to draw on an overdraft and if not repaid will result in debt. Therefore, if it is not repaid on the due dates will result in the recovery of the said amount by the bank.

A banks' primary interest is to recover the money owed to them. I personally, in the first instance would speak with the bank manager, if you get no help contact their head office and explain the difficulty you are in. If you get no help I would make an appointment at the C.A.B. office and speak with someone in person.

Hi There,
.
I agree the main concern of Lloyds will be to recover the money, in the same way that a mortgage company will seek the return of the loan they will look to whoever can pay, if your ex refuses to pay they will come to you.
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I still feel that trying to clear the debt and then going through smalls claims could be your best option.
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GTTS