Legal Question in Credit and Debt Law in California

Health professional loan

My husband at the time in 2006 applied for a student loan which I was the co-signer. He took the 20,000 and did whatever he did with it and I never saw a dime of it. We were divorced in 2007. I just found out 2 weeks ago that the loan is in default and has been for awhile, so now it is in collections. He is not being responsible for the money he spent and so they are trying to come after me. This is all news to me, I don't know what to do with this issue. I don't want my credit ruined because of his irresponsibility, but I can't pay for this loan. Is there anyway I can not be responsible for this? They should be going after him at all costs, he is the one that ran off with the money and I don't know what he did with it. Please tell me what I can do. Thank you for your help.


Asked on 2/06/09, 1:31 pm

2 Answers from Attorneys
Joshua Swigart Hyde & Swigart

Re: Health professional loan

You are probably going to be good for it due to the fact you are a co-signer. You can always go after your ex-husband and attempt to force him to pay. There is probably a question on who took what liabilities in the divorce decree.

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Answered on 2/08/09, 3:26 pm
Bryan C. Becker Your Lawyer for Life.

Re: Health professional loan

I am sorry to hear about your situation. What you can do is negotiate down the amount owed and then pursue your husband for the amount you had to pay. Feel free to contact me if you would like to discuss, we handle these cases on a fixed fee basis and our clients find it very affordable.

Yours truly,

Bryan

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Answered on 2/06/09, 3:10 pm


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