Q: My ex-husband is demanding I pay for a loan he got and I am not even on the loan.
My ex-husband cosigned a loan (sallie mae) for our daughter (who is a student and has mental health issues ). She is 23, is still studying (changed programs and college) and now they are getting billed $48,000 and he wants me to pay for it in its entirety since I was awarded our stocks as part of our divorce agreement ( which those funds were intended for our kids education). My daughter is loosing her hair due to the stress that this has causes, being that she does not work full time and I just feel like getting the money out and paying it. It's not fair though that I pay for all of it. I remember that when he took out this loan he wanted me to cosign and I said no, because she should of stayed closer and gone to a community college first ( she was also having mental health issues at the moment), but he didn't care and went ahead and did it anyway. Now, he expects me to pay for it all. What do I do?
A:
This answer is based on the law in Florida. You have no legal obligation to pay the loan. What you are describing is a moral dilemma because you are a parent that cares about your child.
Good luck.
A:
If your daughter is still in school she can get a deferment. She just needs to contact the loan servicer, request the deferment and provide the information regarding her new school. Once she is out of school she should request an income-driven repayment plan so that payments are reduced at first and increase as her income increases.
You are not liable for any debts you did not sign for in Florida. It is not a community property state. You are the one who has to decide if it is more important to help you daughter or to stand firm against your ex-husband.
A: If the loan was taken out by your former husband in his sole name after your divorce was finalized, you do not have any legal obligation to contribute to that loan.
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