CreditBoards > Fla-tan! Help please!

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snobunni74

Feb 10 2004, 03:24 PM

I actually had asked you a question on my other, now very long thread, but I'm not sure if you read it or not. (Student loans in a divorce one).

I did get the property settlement agreement yesterday, and it says

QUOTE

Husband and Wife will equally share responsibility for the Sallie Mae student loan with an spproximate balance of $77,000 whereby Husband and Wife will each pay 50% of the monthly payment due. Each party shall indemnify and hold the other party harmless in the event that such party defaults in the repayment of said obligations.

NOW, it is my understanding that this acutally means bupkiss. Sallie Mae will look at this and laugh.

You'd mentioned the loan could be split along the unsubsidized/subsidized line. Do we contact Sallie Mae for this? Every time I've tried to contact them, they just say "sorry, tough luck". That is, when I actually get someone I can understand (they've farmed out their customer support to India *grumble*).

Anyway, can you clarify what you meant by "spliting" it along those lines for me?

Many thanks!

fla-tan

Feb 11 2004, 12:56 AM

QUOTE

NOW, it is my understanding that this acutally means bupkiss. Sallie Mae will look at this and laugh. You are correct.

You'd mentioned the loan could be split along the unsubsidized/subsidized line. Do we contact Sallie Mae for this? Every time I've tried to contact them, they just say "sorry, tough luck". That is, when I actually get someone I can understand (they've farmed out their customer support to India *grumble*). This should have been done by your divorce attorney as it has to be stipulated by the judge. At this point, it may be to late, though I don't know for sure.

Anyway, can you clarify what you meant by "spliting" it along those lines for me? If you have both subsidized and unsubsidized loans combined into the consolidation, for reporting purposes they are kept seperate. In many cases, a divorce judge can have each party to the divorce become responsible for one or the other. With direct loans at least, they will even totally seperate them and put one in each ex-spouse's name only. I am not sure whether or not Sallie Mae will even do it if a judge directed them to.

Many thanks!

snobunnie

I hope this helps you to better understand what I was saying earlier.

fla-tan

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