If my ex-husband hasn’t gone to school in over 6 months and I co-signed on his student loans, can I legally get myself out of the debt obligations?

In our divorce agreement he has taken on responsibility for the loans, however I co-signed for the loan and the collectors are coming after me for his missed payments. I recently found out he hasn’t gone to school in about 8 months. Could this be considered some kind of financial misconduct that I can use to get the courts to legally detach me as the co-signer of the loan?

Asked on December 1, 2011 under Bankruptcy Law, Colorado


FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 8 years ago | Contributor

The problem that you have is that even though your dissolution decree obligates your former husband to make payments on these student loans, you signed as a co-signer on these loans with the lenders.

You are responsible to make the payments to the lenders in the event your former husband fails to make them which is the case. If you have to make these payments to the lenders, your husband is ultimately responsible to reimburse you for the payments that you make for him.

There is really no way for you to get out of your obligation on your husband's student loans other than file for bankruptcy protection. I have never heard of a lender unilaterally releasing a co-obligor on a loan when money is still due on it.

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