lostnbroke
recently joined
Reged: 02/02/12
Posts: 3
Loc: Illinois
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Hey all! I'm prepared to file for a divorce without a lawyer. My ex and I have agreed on all issues, from custody to child support to division of debts, except for...student loans. My soon to be ex is adamant I must take responsibility for some of them (all for his education), while I argue it's insanity that I should be required to foot the bill for something I am not benefiting from. I am in Illinois and cosigned on several of the loans in question. Is this issue large enough to prevent going the divorce sans lawyer route? How can I expect to tackle this if we can't come to an agreement?
Thanks!
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Gecko
Carpal \'Tunnel
Reged: 06/01/04
Posts: 19803
Loc: Third rock from the sun
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I argue it's insanity that I should be required to foot the bill for something I am not benefiting from.
---> If the Degree allowed him to get a better job and make more money, how can you say that you didn't/aren't benefiting from?
Is this issue large enough to prevent going the divorce sans lawyer route?
---> No, but since you can't come to an agreement, you can't file a Stipulated/Consent Decree and the divorce will drag out.
---> And one thing you may not realize...is regardless of what the court orders, the creditor is NOT a party to the divorce and thus you will remain liable for the debt until it is either refinanced or paid off.
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If you air your dirty linen in public, expect people to comment on the skid marks!
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lostnbroke
recently joined
Reged: 02/02/12
Posts: 3
Loc: Illinois
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"If the Degree allowed him to get a better job and make more money, how can you say that you didn't/aren't benefiting from?"
We split pretty much right after he left college. The only thing I'm "benefiting" from is a child support payment, which is about the kids, not me.
"And one thing you may not realize...is regardless of what the court orders, the creditor is NOT a party to the divorce and thus you will remain liable for the debt until it is either refinanced or paid off."
No, I'm fully aware of this. It's just something I'm going to have to deal with, but an agreement needs to be made one way or another.
ETA: Thanks for the info on dragging it out. I'll just have to compromise on some of it.
Edited by lostnbroke (02/02/12 05:17 PM)
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Gecko
Carpal \'Tunnel
Reged: 06/01/04
Posts: 19803
Loc: Third rock from the sun
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Here is something for you to negotiate with...you will be more than happy to help him repay his student loans, but you will expect a reasonable return on your 'investment'. To which...let's say that without that much vaulted Degree, his earning potential was $25,000; but with the Degree, his earnings are $40,000. If he wants to you pay say...1/3 of his loans, then you need 1/3 of the difference between $25,000 and $40,000.
Also...if he was a full-time student and you worked full-time and supported him...with the understanding that you would benefit once he obtained his Degree...then you are already 'vested' and should seek a 'return'.
See where I am going with this?
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If you air your dirty linen in public, expect people to comment on the skid marks!
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lostnbroke
recently joined
Reged: 02/02/12
Posts: 3
Loc: Illinois
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I'll try for that angle, but have doubts he'll agree. One of his claims is that I "never did anything" while he was in school [for reference, I had a FT job until he landed a well-paid internship his last year, at which point he told me to stop working a be a SAHM]. I'm probably going to compromise more than necessary just to get this over with. The argument over SLs has been dragging on for 8 months now, and I'm tired of having it. Since I'm going to be on them one way or another (no chance of consolidating them, he trashed our credit), I'm going to end up being "responsible" for them if he just decides to stop paying (again).
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