Expert: Christine Janklow - 8/26/2008

Question
I was married in 2006, my then-husband under much manipulation and duress made me co-sign for a student loan with Sallie Mae. At the time he was not working, nor was his credit sufficient. Later that same year, we divorced because I discovered that he had a pattern with previous wives and other women of doing the same thing. The divorce decree declares that he is to be responsible for the student loan debt. Until July he was making the monthly $10 payments, but has since closed his checking account which the from which the autopayments were set up. Under Sallie Mae if good payments are made for 24 months, I can apply for a co-signer's release. After requesting him to change the bank info for the payments, he has yet to do so and I'm afraid he won't (past history says he will ditch the bill). At this time, I'm prepared to make the $10 payments until April of next year, when the full payments start to keep the account current. However, I'm am fully afraid that when those payments ($450 month) start to come due that I can not pay them, nor should I have to. I am afraid that Sallie Mae will come after me. I have a daughter who has entered her freshman year of high school and I am preparing to save for her college education. I don't want Sallie Mae to take away from me, what I was coerced into doing. Is there anything I can do to protect my wages and credit? What can the divorce decree do to help me. Can I sue him for any amounts that I'm forced to pay? Please help.

Answer
Dear CL:
Thank you for your inquiry. I regret that you have been left with an unfortunate situation on you hands. Firstly, let me preface that I am not an attorney and can not offer any legal advice. Based on the information you have provided, I believe you are taking some appropriate steps in managing the debt (even though it is not really yours). If you have not already spoken with SM in regards to your loan, you might want to ask them about debt forgiveness or loan forbearance to help you out. Additionally, you could enroll this debt with a licensed or not-for-profit credit counseling service. More importantly, you may need to revisit this agreement with an attorney who can possibly assist you in making sure he keeps his part of the agreement. If you need to find a licensed credit counseling service or an attorney who can enforce this agreement with your husband you can call your state attorney general office or visit www.lawyers.com, www.findlaw.com or if you have a restricted income, www.lawhelp.org. It is imperative you don't continue to shoulder the burden alone or without the benefit of sound counsel. I hope this helps. Good luck.

Respectfully,

Christine Janklow