Jointly and severally liable

[JohnnyJones]

If two people split up with a joint account in arrears is there any way the debt can be split giving each party their own liabilities?

Asking for a friend...

[p4cks]

Nope. Your thread title explains what the expectations are with debt

[kowalski655]

only by agreement between them, but they are still liable for the full whack if the other doesn't pay

[theboss]

Not that I’m aware of. They are equally liable for the whole debt. The bank won’t allow the account to be closed until the balance is zeroed.

Either party should be able to ask the account to be frozen without the consent of the other, which would prevent any money from being drawn out but not paid in. It would then require both account holders’ agreement to un-freeze.

If they are married and not co-operating then ultimately the debt would get included in financial remedy proceedings.

[hutchst]

And equally liable to get an adverse credit rating if the other one stops paying off bills while telling the first one that they are paying.

Ask me how I know

[tinnitusjosh]

JohnnyJones said:

If two people split up with a joint account in arrears is there any way the debt can be split giving each party their own liabilities?

Legally, yes there is, there always is. But you will need the bank to agree to the change. Even if you could track down someone within the bank with the authority to waive the standard terms of their current accounts, the likelihood of them agreeing to do so is practically zero. They currently have two people on the hook for the entire debt and I can't think of any compelling reason why they would ever want to let go of that.

So my lawyerly pedant head said "yes it is possible" but by everyday head says "it will not be possible in practice"

[JohnnyJones]

Thanks all, as I thought really. Looks like they will have to communicate somehow.

[reglard]

Yes I copped for the lot when split up from ex, good job I had set some cash aside without her knowing. Note to oneself never have a joint account.

[Burwood]

anonymous said:

[redacted]

I would think this issue the least of my problems

[Trophy Husband]

anonymous said:

[redacted]

The clue is in the word couple. A singular noun.

I always wonder why couples don't have joint accounts.

Not having a joint bank account because you might split up is, well, a good reason not to be together in the first place?

[Roofless Toothless]

I've been married over 45 years - to the same woman, I hasten to add!

We've never considered having separate accounts or property held other than jointly.

Just call me old fashioned, I suppose.

When we took out ISAs the first time, Mrs Toothless gave me a funny look as they weren't in both our names. I had to point out what the I in ISA stood for.