Advice on $$

iVillage Member
Registered: 03-28-2003
Advice on $$
2
Thu, 06-16-2005 - 10:49am

Hello,
I've posted a couple times here and now I have a question on money.My husband and I have virtually no assets.No kids, a small savings, a car, and some cheap furniture.Well, after I found out about his girlfriend a month ago I transferred our savings into an account that was just in my name and switched my direct deposit for my pay to go into that account as well.He never said anything about the money,but we did make a verbal agreement that besides a few personal items he gets the car and I get the dog and the furniture.Because he knows nothing about money, bills, etc. I took my power of attorney (he is in the Army so thats why I have one) and refinanced the car into his name only.So, everything was done legally.I then informed him that I did this with the new account number, monthly payment, etc. and told him that before I leave Germany (where we are stationed) I will be closing down our joint bank accounts.I told him that it would be beneficial to him to open up a new account and switch his paycheck to go into that account.Well, he never did because he is basically just plain lazy.I called up the bank to ask about our joint accounts and found out that he was overdrafting them.So, I switched around some money and closed down two of the three because my name is on them and that can affect my credit.Today I finally was able to close down the third account.The thing is is that the money that was in there had to be withdrawn and sent out in a cashiers check to the address listed on the account..which happens to be my parents address back in the States.So, theoretically I have taken two of his paychecks in the last month.I warned him of what I was going to do even though he claims I never did.My name is on those accounts and legally I can take all the money and close them down.So, my question is....can he fight me in court over all the money I've withdrawn and put into my account? I don't think he will just because he is so stupid when it comes to money.He is really mad right now about me closing down the accounts and taking his paycheck because now he has no money.In addition, he never set up a way to pay his car loan so its now past due and will probably remain that way until its repossessed.My name isn't on the car loan anymore, so that can't hurt my credit..right? Actually, he isn't paying any of his bills because he doesn't know how..I always took care of that.Any advice would be appreciated.Thanks.

Brooke

iVillage Member
Registered: 03-06-2005
In reply to: bap17_81
Thu, 06-16-2005 - 11:18am

Hmmmmmm,


I believe you won't have a problem. Your name was on those accounts and you are as free to do with them what you want as he is/was. It seems pretty cut and dry although you should ask

iVillage Member
Registered: 02-19-2004
In reply to: bap17_81
Thu, 06-16-2005 - 8:31pm

You might be legally entitled to do whatever you want with the joint account, but isn't it kind of mean to take his last two paychecks and keep them for yourself? He'll have to figure out on his own how to pay his bills, but you don't have to make it impossible for him by taking his money. Why not give at least some of it back when you receive it from the bank? If I had a joint account with you and you took my money out of it, I'd be mad too.

You were right to close the accounts though, and you did give him fair warning of that. It's not your fault he doesn't have his money right now (since you had to close the accounts and the money is not in your hands), but I don't see a reason to keep it.




Edited 6/16/2005 8:44 pm ET ET by firstamendment

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