Joint account: are you liable for the other person's debts?
A joint account is practical, but carries risks. The widespread either/or account in particular means: each can dispose alone, and both are answerable for a negative balance. Debts or seizures against your partner can affect you too.
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Clarify your question →Your chances of getting your money back
What you should do now
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1. Clarify the account type
Do you have an either/or account (individual disposal) or an 'and' account (only jointly)?
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2. Consider the risks
With the either/or account, both are liable for the negative balance; seizures against one can affect the balance.
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3. Act on separation
In case of separation or dispute, adjust the disposal authority or close the account.
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4. Use advice
In case of seizure or debt problems, debt counseling can help.
Frequently asked questions
Am I liable for my partner's debts on the joint account?
With the either/or account, yes, as far as the balance of the account is concerned: both account holders are jointly and severally liable for a negative amount, and the bank can hold each liable in full. For your partner's other private debts, on the other hand, you are not liable simply because of the joint account; however, a seizure against the partner can reach the account balance.
What happens with a seizure against one account holder?
With the either/or account, the balance of the joint account can be reached by the seizure, whereby as a rule a half share is assumed. This can also affect your money. An 'and' account (disposal only jointly) offers more protection. In case of acute seizure problems, debt counseling supports you.
Take action now
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General information for self-help, not legal advice (RDG). In case of a high loss or uncertainty: contact a consumer advice center or a lawyer.