I let my friend on my checking account and then moved out of state. Since he constantly overdrafts it by hundreds every month, I want off, but the bank wont let me without paying it to zero. My friend wont sign the necessary paperwork to release me, and I feel as though I am being held hostage.
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Your story illustrates the risk one takes when holding a joint account. Your only viable choice is to bring the account balance to zero and ask that the bank close the account. When you do so, make sure the bank makes the closure final, and that any checks written by your friend are returned "account closed." Make it plain to the bank that it is not to reopen the account to post overdraft or bounced check fees, and that you will not be responsible for them.
The alternative simply isn't smart. It entails leaving the account as it is, with the potential that its overdraft could become larger, as your irresponsible friend continues his pattern.
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Your story illustrates the risk one takes when holding a 