Does student loan debt get split in a divorce?
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Does student loan debt get split in a divorce?
You live in a community property state If you live in one of the following states, you could remain responsible for repaying your spouse’s debt: Arizona, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington or Wisconsin. California is also a community property state, but it treats student loans separately.
Can a spouse be held responsible for student loan debt?
If you cosigned on your spouse’s student loans at any time, whether they’re federal loans, private loans, or refinanced loans, that means you are legally liable for those student loans. If your spouse dies or is otherwise unable to pay back their loans, the lender will look to you to pay them back.
What happens if my wife defaults on her student loans?
I live in California. Dear Liz, The answer is yes. Your student loan creditors can garnish your spouse’s wages to recover the amount of your defaulted student loan.
Does debt get split during divorce?
As part of the divorce judgment, the court divides the couple’s debts and assets, while deciding who is responsible for paying specific bills. Each state has its own laws for dividing debts and assets. Some states consider the assets and debts each spouse brought into the marriage.
How can I hide inheritance from my husband?
One of the best ways to protect your inheritance is to keep it separate from all marital property. Don’t deposit it into an account you share with your spouse or use it to fund joint purchases.
How long does a divorce take to settle?
HOW LONG DOES THE AVERAGE DIVORCE CASE TAKE? Divorce cases that go to trial take an average of 17.6 months to resolve, but spouses who settle their issues can have their uncontested divorce final in about 1–3 Months.
Can you be forced to get a divorce?
The fact is that California is a no fault state and you do not need your spouse’s signature in order to get a divorce. If your spouse fails to file and serve you with a response, you can file a request for default against your spouse after 30 days. You can also file a proposed judgment for the court to approve.
