Who is responsible for student loan debt in a divorce?
Who is responsible for student loan debt in a divorce?
3 Important College Funding Questions to Answer During a Divorce. ] Did your spouse co-sign a student loan? Most private student loans require co-signers. If your spouse co-signed a private student loan for you during your marriage, then he or she is legally responsible for the debt as well, even after divorce.
Is student loans considered marital debt?
Even if your\u2014or your spouse’s\u2014student loans are considered marital debt, that doesn’t necessarily mean that the other party will be liable for them in the event of a divorce. In a community property state, marital assets and debts are split 50-50 between the parties when they divorce.
What happens to student loans after divorce?
Legally, any student loan debt you incurred before getting married is considered separate property and remains so after the divorce (with the exception of a prenup stating otherwise). So if you borrowed $70,000 to attend law school before marrying your spouse, that debt is yours.
How can I speed up divorce?
Speeding it UpWaive Mandatory Waiting Period. In some states, couples may petition the court to have the waiting period waived. Act Early. Preparation is a key way to speeding up the divorce process. Cooperate. Cooperating with your spouse and also go a long way towards speeding up the process. Pursue Mediation.
