Do debts that are incurred before marriage become your spouse's debts?
Question Details: My grandson is defaulting on student loan. I trusted him and co-signed. Now they are coming after me. My new marriage is breaking up because of this. This debt was incurred previous to our marriage of 5 years. Is my husband responsible?
- Auto Accidents
- Child Custody, Support, Adoption
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- Consumer and Lemon Law
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No, your husband is not liable for a debt that you co-signed for prior to your marriage. In fact, unless you live in a community property state,Ã¯Â¿Â½he wouldn't be liableÃ¯Â¿Â½for such a debt evenÃ¯Â¿Â½if you signed after your marriage. That having been said, to the extent that you may own jointly held assets, they could be at risk. Without more detailsÃ¯Â¿Â½it is hard to say more. What you should do now is to consult directly with an attorney in your area; they can best advise you as to your situation.