Belmont Thornton Logo
PPI Claims - About PPI

PPI Claim News

 
Loan protection: Joint accounts 'can have legal dangers'

Couples that have taken out loan protection, perhaps after buying their first property together, may be considering setting up a joint account.

However, they should be aware that these sorts of accounts can have legal dangers.

That is according to Annie Shaw, editor of CashQuestions.com, a unique website that allows members of the public to ask a question about personal finance and have it answered free of charge by an expert.

She said: "People can be jointly liable for the account if it runs into [its] overdraft, or if there are obligations such as direct debits or anything set up in association with that account.

"[If] one of the partners of the account stops paying into it, the other person is then legally liable for what is going on in the account."

Her comments follow research by first direct, which revealed that 58 per cent of couples that moved in together did not set up a joint account for household finances.

Jennifer Haines

Jennifer's speciality knowledge is credit card changes and balance transfers.
 ADNFCR-2776-ID-800526564-ADNFCR



Bookmark and Share
Tell a Friend
blog comments powered by Disqus

Enquiry Form

First Name 
Last Name 
Mobile Phone
Home Phone
Address Line 1 
Town
County
Post Code 
Email 
Circumstances
Claim Back Mis-Sold PPI Button

Belmont Thornton Limited is regulated by the Claims Management Regulator in respect of regulated claims management activities; our registration is recorded on the website www.gov.uk/moj/cmr number 18273

Belmont Thornton Limited is incorporated in England and Wales, Company number 6621233, whose head office at Unit B16, Kestrel Court, Harbour Road, Portishead, Bristol, BS20 7AN and registered office at Harwood House, 43 Harwood Road, London, SW6 4QP.

Belmont Thornton Limited is registered with the Information Commissioners Office. Registration number Z1728023.

Please note that calls may be monitored for the purposes of staff training.

* Belmont Thornton operates on a "No Win No Fee" basis. This means that there are no upfront costs to pay. Our fee only becomes payable on a successful outcome of a claim. A cancellation fee is payable if you decide that having instructed Belmont Thornton to act on your behalf, and after 14 days of signing your Letter of Authority, you do not wish to continue pursuing your claim with us. The cancellation fee is the reasonable costs incurred for the work undertaken. Please see our terms of engagement.

By using our web-site, you agree that we can place the types of cookies described in our privacy policy on your device.Hide