Over half of adults don’t know who’s responsible for debts on joint accounts
SavvyWoman’s research shows 61% of people didn’t know that either partner on a joint loan is responsible for the whole debt.
I regularly get emails from women who signed up to a joint bank account or a joint personal loan with their partner where the bank is pursuing them for the whole debt after the relationship has broken down. Or where their ex partner refuses to pay their share. So what are the rules and how can you protect your financial position?
Understanding your rights if you have a second card on your account.
You don’t have to opt for his ‘n’ hers credit cards, but if you do, make sure you know who’s responsible for the bill.
You know what it’s like, you have a joint bank account, joint savings account, joint mortgage – so why not a joint credit card? Well, the main reason is that in the UK there’s no such thing as a joint account on a credit card. It’s different in other countries such as the United States, but here, there always has to be one person who signs the credit agreement, which means there’s one person who’s responsible for the bills - no matter who spends the money.
Dying tidily – how to make life easier for your husband or partner
No one wants to think about their death before they have to, but if you organise everything in good time, you’ll make things much easier for those you leave behind.
According to the Office for National Statistics only 4% of deaths occur under the age of 45, which means the chances of you dying young are small. But around 70% of adults don’t make a will, and younger you are, the less likely you are to have done something about it. If you’re married or have a partner, you need to think about their financial well-being after your death. And if you have children, there’s the issue of who will look after them as well.