AIB joint a/c overdraft

ganger

Up to 2008 i had a joint a/c with MR A,,in september 08 after many months of arguing and general bad feeling i decided to quit this business.All monthly statement,bank correspondence etc were being sent to MR A address.When i quit this arrangement ,i understood that the a/c was closed.Anyway i received a letter from bank about joint a/c stating 6000 overdraft from 2009 !!!!!!!!!!!!!.Now i realise that a/c was not shut down and the a/c was still being used with my name on it ,very stupid of me not to ensure all this in 2008/2009.Anyway rung the insolvency /collection dept. of bank and explained all to a bemused personwho said unless MR A takes out a personal loan in lieu of overdraft, i am still responsible for debt.I have tried to contact MR A and speak but no luck.I dont have the money to go down legal route.We (wife,baby,myself) exist on 328 euros p.w.Thats it in a nutshell.We have a tracker variable mortgage so any changes to that are out of the question,only 9 years left on it.We buy our heating oil in 5 gallon drums,we dont smoke or drink, we have a 01 car.no savings or pension.What in the name of GOD can i do.I know now how stupid i was but anyway ,hindsight is a great thing.I cannot get another euro from our "budget" to even begin repaying a debt that isnt mine.Please can anyone offer some advice .Thanks.

Rebel1977

Bank are surely liable as legally all joint accounts should have 2 names on the name and address section and a separate statement should issue if the parties to the account have a 2 different addresses.

Zamboni

Track down Mr A and get your name taken off the mandate.

ganger

Rebel1977 wrote: »

Bank are surely liable as legally all joint accounts should have 2 names on the name and address section and a separate statement should issue if the parties to the account have a 2 different addresses.

Only 1 statement was sent ,that was to MR A address.We had different addresses.Thanks for replying by the way.

ganger

Zamboni wrote: »

Track down Mr A and get your name taken off the mandate.

Thanks for replying,What do you mean "take my name off mandate" ?.

Zamboni

ganger wrote: »

Thanks for replying,What do you mean "take my name off mandate" ?.

Is it a joint personal account or a business account?
If it is a business account you will both have signed a mandate.
All you have to do is get a new mandate form from the bank and get him to sign it.

ganger

It was set up as a business a/c, will the local branch have this form ?.And what if MR A wont/refuse to sign it.?Thanks for replying

Joe10000

My business bank account has a limit over which two directors need to sign, look into it.

Zamboni

ganger wrote: »

It was set up as a business a/c, will the local branch have this form ?.And what if MR A wont/refuse to sign it.?Thanks for replying

Every branch has them. It is a regular occurence.
Get the form and track him down.
If he doesn't sign, well, cross that bridge if it happens.

roro2

I'm not sure what trying to change the mandate now will achieve. It is still worth getting a copy of this, and the overdraft agreements and all correspondence about the account and looking closely at all the details. The account holding branch should be able to provide all of these, and if they can't that would weaken their case.

ganger

Funny enough i ran into him today,he said he spoke to the dept. of the bank dealing with this and said i wouldnt be hearing from them again.I asked was there anything in writing and he said he would get around to it shortly.????????????Since this came around my blood pressure has gone through the roof again,Im getting constant headaches/migraines and sleep is becoming harder.I was very stupid in the first place but i cant understand how he can be so flippant about the matter.I dont need sheriffs or debt collectors coming into our home and taking anything to pay off this. If i could afford it i would hire a solicitor and let him deal with this.Good news today i have got a place on a c.e scheme

ganger

Zamboni wrote: »

Every branch has them. It is a regular occurence.
Get the form and track him down.
If he doesn't sign, well, cross that bridge if it happens.

Thanks again for replying,,i asked him would we meet in the bank to sign whatever was necessary.A big laugh was what i got in reply.So now what ?????????????/

roro2

Just to be clear on this, a mandate is an instruction to the bank on what parties are authorised to transact on the account. Changing just the mandate, while retaining your name on the account, will not remove your liability for the debt. What is needed is for the bank to remove your name from the account, which usually means opening a new account in the sole name of Mr. A and transferring the balance. This would also need to be sanctioned by the bank as, at the moment, they have two individuals who are liable for the debt and this would reduce to one.

ganger

Thanks for replying .I am going to ring the bank to set up a meeting, i will show them that my present income is 339 euro per week for 2 adults and a 2 year old child to live on.We dont have any savings as they will see from our a/c with them..If they want to lock me up they can, i will not be able to pay this off and thats it.The sooner i can get a definite answer the better.

jhegarty

Were both signatures required to up the overdraft / withdraw money ?

ganger

just his,,,,thanks