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My Ex-Husband Stopped Paying the Student Loans and I Cosigned

Written by Steve Rhode

“Dear Steve,

I cosigned for a private student loan for my exhusband while we were married in 2007. There is a court order stating that he was required to refinance the loans in his name only which he never did, so I have proceeded to sue him and he is in contempt of court. He has recently filed for bankruptcy and defaulted on the loans. The loans are showing up as “charged off” on my credit report. A collection company has contacted me and is offering to settle for 60%.

1. Do I just suck it up and settle? Do I have any other options?

2. After I resolve this issue, what can I do to repair my credit?


Dear Me,

I could give you two answers. One would be about how you could go after him and fight in court and make him follow the agreement.

The more realistic one would be that the offer to pay is a reasonable one. The divorce agreement was between you and your husband and had no binding impact on the creditor.

So they could go after you as a cosigner regardless of what the divorce decree said.

Repairing your credit is actually stupid easy to do. Read this and this.

Please post your responses and follow-up messages to me on this in the comments section below.

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About the author

Steve Rhode

Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.

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