My question: Legally should a husband have any responsibility for his wife's student loan if it was taken out during their marriage? They are divorcing, the loan is in her name, and I, her mother, co-signed for the loan.
The loan amount is about $125,000. Way back when when I cosigned, it was not that much. It could be that they applied for additional loans after the first one without my consent. I don't even remember the initial amount, but I think it was about $30,000. It was about 14 years ago. I chose not to take any action about this when I learned the amount a few years ago when they were still married because I didn't want to make criminal charges. She went back to school, and during that time they didn't make payments, so I'm sure the interest piled on.
Their current situation: They divorced without telling me. Per the terms of the divorce, accountability for repayment ended up to be solely my daughter's responsibility. Her ex will only be paying her a few hundred dollars a month extra that is incorporated in her child support payment. They have one child and support ends in 4 years. After that, he has no future responsibility. They have no other debts and very few assets.
They got an $800 divorce and shared the same lawyer. I believe that her ex manipulated her in order to get out of any responsibility for this. Evidently his logic is that his dad gave them lots of money while they were married, so this should not be his responsibility.
Does my daughter have any recourse? Do I? Thank you. I need some advice.