Reply to s/o - Marital consolidation of student loans - anyone know of a way to separate upon divorce? Help!

Forum Index » Money and Finances

Reply to "s/o - Marital consolidation of student loans - anyone know of a way to separate upon divorce? Help!"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous][quote=Anonymous]Biggest mistake of my life! Consolidating the loans, that is.  Now we're divorcing and after extensive research I have found no way to separate the loans. People can no longer opt for marital consolidation because the government realized the implications in a divorce. The divorce decree won't help me one iota. And he owes a lot more than me. I don't want my credit forever tied to him! [/quote]

Will you only take a proportional amount of the assets? Hah didn't think so.[/quote]

Well, since you asked...yes, I would. His are law school loans (approx. $100k), mine are undergrad ($30k). So it's going to take him quite a few years to pay those off. It's the joint & several issue that bothers me. In ten years if he falls on hard times (or simply chooses not to pay), then my credit will suffer. I'm happy to pay off my share or give him the equivalent in assets, but it doesn't remove my name from the loan. And the divorce decree can only state who will be responsible for what portion.

Refinancing sounds like a good option I hadn't considered. I'll have to explore that. Thanks! Op[/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics