If we divorced, am I responsible for a student loan that I co-signed for my husband?
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If we divorced, am I responsible for a student loan that I co-signed for my husband?
In 2001 I co-signed a student loan for my husband. We divorced in 2002. He remarried 6 years ago and defaulted on the loan, then filed for bankruptcy. The debt showed up on my 3 credit reports as a bad debt. When we divorced, the judge declared that I will not be responsible for any of my ex-husband’s outstanding student loans. Apparently, his lender disagrees. What, if anything can I do to expunge this from my credit report? It is ruining my credit.
Asked on October 27, 2010 under Bankruptcy Law, California
Answers:
M.D., Member, California and New York Bar / FreeAdvice Contributing Attorney
Answered 13 years ago | Contributor
A creditor is not a party to a divorce action, therefore unfortunately it is not bound by its terms. Since you signed for the loan you are responsible for payment. Additionally since CA is a community property state, a creditor can hold both you and your ex-husband liable for debt that either of you incurred during marriage. As for your credit, you can add statement to the report explaining the circumstances of the negative notation but that's about it.
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