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.
What happens if you marry someone with student loan debt?
1: What Happens When Marrying Someone with Student Loan Debt? 1.1: In most cases, you’re not liable for your spouse’s debt from before marriage. 1.4: Your spouse’s debt could affect your financial future as a married couple. 1.5: Your spouse’s student loans won’t affect your credit score.
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 do you know it’s time to leave your marriage?
Feeling Completely Disconnected: You no longer share things that are important to you with your partner (and may even be sharing them with someone else instead). Little Effort is Being Made: When you get married you make a commitment to share your life with your partner. This takes time and effort—always.
