Risk of opening joint account? Partner has bad debt, I don't

[rainydays1234]

I'm living with my partner and considering opening a joint account for food spending only.

We'd both pay in the same amount each month.

I'd keep bills coming out of my account and he pays rent and bills directly to me which I won't change.

Could I be putting myself at risk opening a joint account as he has bad debts.

He has some agreement with help of a charity that he is not currently paying them back. And there is some option of wiping them - which of course mean he can't get credit. But he's unlikely to get credit now in any case.

Am I putting my own clean credit score at risk by opening a joint account with him?

Don't do it until the bad debt is cleared/dropped off his credit file.

Why don't you just ask him to add the food money onto the bills and rent money, transferring the food money at the same time?

I wouldn't want someone with debts to have any link to me whatsoever.

Could I be putting myself at risk opening a joint account as he has bad debts.

Yes, don't do it

Just open the account in your name and DP can pay into that. I wouldnt want any financial tie to him!.

Don't do it. It creates a financial link between you and will affect your ability to get credit, which includes everything from mobile phone contracts to mortgages.
Put the money for joint costs in a separate account in your name and pay the bills from that. Don't do it the other way round, he has a proven track record of poor decision making where money is concerned.
Just because MN is big on joint finances doesn't mean it's the right thing for every couple.

Ok thank you - do you think it's already a risk with him living at my address?

Potentially yes. I onced lived with my dad and his then wife....I was applyling for a mortgage and was refused. Upon getting my credit report his wife had declared bankruptcy and living at the same address tied me to her. I cant remember the exact process, I had to do something to declare we had no financial ties.

Addresses are no longer blacklisted, so as long as you keep all finances separate you should be fine

Ok thanks!

No need to do it anyway. He can just give you or transfer the food money to your account.

I wouldn't dream of sharing an account with him. Did you say he's not paying back his debt?

Don't do anything joint with him.
I would want to know how he ended up in debt, and whether he was likely to do it again tbh. I think a successful long term relationship needs to be with a similar approach to finances.
Hopefully it was just a blip, for good reason though.

I've been married to my DH for 28 years and we only have a joint savings account and apart from the mortgage he’s never been in debt. You don’t have to have a joint account at all.

Don't do it

Yes, there will be a marker put on your credit file saying you are financially tied to him.

Don't get financially linked with him or it will cause you problems

I understand what you are trying to do. As someone said ask him for food money then open another account in your name only and transfer the food money into it and use this for food.

I have a separate account for food and it's only me who has access to it. Really good for budgeting.

I've got a joint account with my mother and my sister. We've had it for decades and it's been useful over the years.

However...things are always going wrong with jt. It's a Barclays account and so is my joint account with dh. Barclays are always sending us letters about each other's accounts. Which definitely should not happen. Then when my sister moved house she started getting statements from dh and my account.

They should not be linked like this.

Get a revolut card for this, he can transfer his 50% but can’t spend what’s not there. Do not put your name to an account while he still has outstanding debts.