(Closed) Question about student loan debt and marriage

posted 8 years ago in Money
Post # 3
Member
1638 posts
Bumble bee
  • Wedding: September 2010

I think so because once you marry it’s his debt too. At least that is what my Fiance keeps telling me since I have about 30k in student loans to pay off and he’s done with his.

Post # 4
Member
5670 posts
Bee Keeper
  • Wedding: August 2010

No, they cannot come after him for your loans unless he is a cosigner. If he did not sign any of the loan agreements then he is not reponsible for your debt.

Post # 5
Member
8353 posts
Bumble Beekeeper
  • Wedding: March 2011

If your state is a community property state, then yes, they can come after him; however, if you are not past due on your student loans, you can get deferrments. Check your student loan site for the correct forms or call them and they will send them to you.

Post # 6
Member
1580 posts
Bumble bee

No, I don’t think so. Only the person who took the loan is responsible.

Post # 7
Member
6661 posts
Bee Keeper
  • Wedding: May 2010

I think so? Fiance has some student loan debt that I am assuming will be my responsibility as well once we’re hitched and I am making him pay it off faster than he currently is.

Post # 8
Member
3098 posts
Sugar bee
  • Wedding: November 2009

Usually they will only come after a loan co-signer.

Post # 9
Member
5670 posts
Bee Keeper
  • Wedding: August 2010

I just looked this up, because the question got me thinking. This is what I found.

In a communal stated: A debt that one of the parties had before the marriage usually remains the obligation of that person–only debts contract after marriage are usually community in nature.

In a seperate state: The spouse had to have signed loan documentation to be obligated to the loans.

Post # 10
Member
604 posts
Busy bee

Try posting this to the legal board. From what I thought after taking tons of law classes, it is not his debt but yours because it is under your name not his. I am thinking this because from divorce law logic when you get divorced (depending on the state) you have to split assets up things that were acquired before the marriage are yours, and things during have to be split amongst each other. If his name is not anywhere on the promissory note, such as cosigner etc, then he is not accountable for the monies owed.

Post # 11
Member
2475 posts
Buzzing bee
  • Wedding: June 2010

No, the only people responsible for the debt will be who signed the loan documents.  If there was a co-signor with you they will also be responsible. 

However, depending on the state you live in, if you default on your loans and they obtain a legal judgment against you, they can go after some of your assets (i.e. your home, bank accounts, etc.).  They can go after it even if your husband also owns the asset or he is also listed on the account, which will obviously affect him.

Post # 12
Member
1023 posts
Bumble bee
  • Wedding: June 2010

Probably depends on who loaned you the money. Federal student loans are forgiven or discharged if the borrower dies or is “totally and permanently disabled”, and rarely if you file bankruptcy. Otherwise I don’t know. 

Post # 13
Hostess
18643 posts
Honey Beekeeper
  • Wedding: June 2009

Only loans that is taken out when you are taken out when you are married will be liable to both parties.  Make sure to pay off those student loans, there is basically no chance of making them go away even in bankruptcy.

Post # 14
Member
318 posts
Helper bee
  • Wedding: February 2011

Does it depend on your repayment plan?

My loans are on an income based repayment plan that is based on my tax returns.  My loans are not in default, but that is how my payment is calculated.

I am trying to find out if they are going to take HIS income into account and up my payments beyond what we can manage.  Has anyone dealt with this?

Thanks!

Post # 15
Member
1944 posts
Buzzing bee
  • Wedding: June 2009

Honestly I kept my student loans in my maiden name after we were married so they never looked into that information as far as payments. But we were also trying to get rid of these because I dont know what your interest rate is but if its high, yes they give you 10 or so yrs to pay off, however if you calculate the interest you are paying back you almost double the loan and its ridiculous. Hence we nailed down some stuff and paid these off. I would seriously not worry about whos debt it is and just get them paid off as quick as you can. You can defer if you are in school but I would still make payments bc those payments go straight to your principal and it goes down quicker. The sooner your loans are paid off the better for your two. It may not be his debt to be responsible for legally but it will affect you when it comes time to do things like buy a house togethor etc. Student loans suck, I hate them. Yes and never default on them. I’ve seen people do that and man they come after you. A girl I know had her paycheck garnished, you think she could not make the payments then? Wait till you see someones check who was garnished! She was miserable and dug herself in hole bigger than ever.

Post # 16
Member
227 posts
Helper bee
  • Wedding: June 2010

YES….they figure in your spouse’s income for IBR if you file jointly. My income-based student loan payments will jump from $150-ish to over $500 – which is why it looks like we’re gonna have to file separately.

Also, student loans do not affect your ability to buy a house as long as you’re not in default. Darling Husband and I went to a bank to get pre-approved and found out that my credit score is higher than his. A big reason for that is because I have lots of debt, but my payments are low and I make them regularly. He has no debt.

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