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The time now is 05/17/08 - 13:17

Joint Account Question


RealCool.BIZ Forum Index -> Finance -> Fundraising, Budgeting & Current Accounts

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zed
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Joined: 26 Jun 2007
Posts: 7



PostPosted: 02/13/08 - 05:41    Post subject: Reply with quote

Hi, I hope you can help me, I have a joint account question. The thing is, my girlfriend and I are going to be living together soon and we have decided it is the easiest to open a joint account from which to pay the rent and other bills. Only Id like to know, if for some reason the bills dont get paid, or we split up for example, who is legally responsible and can the bank take money out of my other accounts if this happens? Thanks.
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claudia
Apprentice


Joined: 18 Apr 2005
Posts: 6



PostPosted: 03/13/08 - 22:27    Post subject: Reply with quote

If you open a joint account, you will be both legally responsible altough there will be a Main Account Holder. That means, if any funds need to be recovered later on they will seek to do this through the main account holder first. My advice is for this person to be whichever one of you has a better credit rating as it will affect the options available to you on your account.
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