Legal Question in Credit and Debt Law in California

Defaulted Student Loans
I have been married 4 years, and live in CA. I graduated from college in 1985. I have neglected to pay my student loans for quite some time, and my account has gone into collections. I have been receiving notices from the U.S. Department of Education. They want payment for interest, penalties, and costs amounting to over $26k. I cannot afford this.
1. Is my wife legally responsible for my financial irresponsibility?
2. If so, how can I best protect her?
3. Is there a way to negotiate with the collection company or the Dept. of Education in order to pay a lesser amount?
4. What are my options?

This matter has placed a great deal of stress on my marriage and needs to be resolved. Thank you.

Asked on 3/15/01, 3:05 pm

Ken Koury Kenneth P. Koury, Esq.

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0 attorneys agreed

Re: Defaulted Student Loans

1. No

2. N/A

3. sometimes if you can offer a lump sum

4. pay, dont pay or negotiate

Answered on 8/04/01, 2:34 am

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