Legal Question in Family Law in Virginia

Student loan liability for ex-spouse

If my fiancee was a cosigner on an ex-husband's student loans, what sort of protection do I have if he were to default on the loans? In Virginia, could the loan company pursue our joint assets as spouses? Or my assets individually? If so, what sort of protections could be put in place? Would a prenuptial agreement be able to provide some protection? In the property settlement, there is a term that indicates that neither spouse will hold the other liable for past or future debts, but I would like to know if that is enough to preempt action by the loan company should he default.


Asked on 3/27/98, 5:16 pm

2 Answers from Attorneys

Evan Farr The Law Firm of Evan H. Farr, P.C.

Protection from Spouse's Creditors

Virginia law would allow the creditors to go after some of your joint assets (but probably not your home) once you get married, if your wife's ex were to default -- a prenuptial agreement would not help you against the creditor, but would against your wife. Best bet is don't open any joint accounts.

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Answered on 4/13/98, 10:21 am
John Maus Law Office of John R. Maus

Going for the Deep Pocket

This reply to your posting is not intended to be the giving of legal advice or the establishment of an attorney-client relationship. Accurate legal advice can only be given on a fuller statement of facts than is contained in your posting and, in this Office, the attorney-client relationship is only undertaken upon the execution of a written fee agreement.

I agree with Evan; a prenuptial agreement is binding as between you and your fiancee, but probably would not insulate you from a claim of your fiancee's creditors against jointly held property, just as your fiancee's separation agreement with her husband may obligate him to pay the student loan, but cannot bind the creditor to relieve her of her contractual obligation to it.

Until this matter is resolved, don't acquire any joint assets and don't put anything in your fiancee's name that you don't want her (or her husband's) creditor to try to attach. I'm sure she'll understand.

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Answered on 4/14/98, 5:36 pm


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