Can I be made the principal signer in my ex-wife's student loan after she files for bankruptcy? 13 Answers as of October 08, 2014

My ex-wife has filed for bankruptcy and was the principal signer on a student loan which I cosigned. They have now arbitrarily made me the principal signer and taken her off the loan even though the loan is not a dischargeable item. Is this legal?

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Freeman Law Group, LLC
Freeman Law Group, LLC | Derek Freeman
Whether you are the principal or not, you are still both equally liable for the debt. So nothing has really changed - you're both still on the hook, and they can still collect from either of you.
Answer Applies to: Colorado
Replied: 10/8/2014
Eranthe Law Firm
Eranthe Law Firm | Cate Eranthe
This is a question that will turn primarily on the contract that the two of you signed. What did you agree to when you co-signed the loan? You likely agreed to the situation that you are in.
Answer Applies to: California
Replied: 10/7/2014
GARCIA & GONZALES, P.C.
GARCIA & GONZALES, P.C. | Richard N. Gonzales
Yes.
Answer Applies to: Colorado
Replied: 10/7/2014
Janet A. Lawson Bankruptcy Attorney
Janet A. Lawson Bankruptcy Attorney | Janet Lawson
Yes, they can do that. She is still liable unless it was a private loan (there are some exceptions). You need a lawyer to look at the paper work. As a practical matter there is no such thing as "primary" borrower. Your liability is equal.
Answer Applies to: California
Replied: 10/7/2014
A Fresh Start
A Fresh Start | Dorothy G Bunce
There is no actual difference between a principal signer and a co-signer under the law. Any party that signs a loan is responsible for paying it. This is a distinction without a difference.
Answer Applies to: Nevada
Replied: 10/7/2014
    Ronald K. Nims LLC | Ronald K. Nims
    Did she file for chapter 7 or chapter 13? They can't collect from you as long as her bankruptcy is ongoing and a Chapter 13 takes up to 5 years. Both you and she are still liable on the loan. How was this handled in your divorce/dissolution decree/agreement? If the divorce decree makes this her debt, then you can sue her to take over all the payments. If your divorce decree doesn't address the student loan debt, congratulations, you saved a couple hundred bucks by not using a lawyer and it'll now cost you thousands.
    Answer Applies to: Ohio
    Replied: 10/7/2014
    Cohen & Kendziorra, P.A.
    Cohen & Kendziorra, P.A. | Robert S. Cohen
    Both you and your ex-wife are legally responsible for the student loan whether she filed bankruptcy or not. If her bankruptcy case is pending, then the automatic stay rule is in play. Once she receives her discharge, then they can come after her on those student loans.
    Answer Applies to: Florida
    Replied: 10/7/2014
    Musilli Brennan Associates PLLC
    Musilli Brennan Associates PLLC | John F Brennan
    I need details but as a co-signer you are equally liable for the debt.
    Answer Applies to: Michigan
    Replied: 10/7/2014
    Law Office of Lynnmarie A. Johnson
    Law Office of Lynnmarie A. Johnson | Lynnmarie Johnson
    Unfortunately yes, they go after who has the money to pay!
    Answer Applies to: Michigan
    Replied: 10/7/2014
    Moore Taylor Law Firm, P.A.
    Moore Taylor Law Firm, P.A. | Jane Downey
    I am going to guess that didn't really happen.
    Answer Applies to: South Carolina
    Replied: 10/7/2014
    The Law Office of Darren Aronow, PC
    The Law Office of Darren Aronow, PC | Darren Aronow
    It depends on the agreement of the private loan. You should request a copy of that agreement that you signed.
    Answer Applies to: New York
    Replied: 10/7/2014
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