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Are Student Loans Community Debt?
Los Angeles, CA
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Posted 7 months ago in Debt Settlement
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Hello I wanted to know if student loans also fall under community debt. My wife and I are getting divorced and she has told me that student loans are exempt from community debt. I did incurr the debt while we were married. I used the money for a project our corporation did. She now says she did not authorize the project but yet she signed all of the checks that were paid out on it. Can you please tell me if student loans are exempt from community debt?
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Also take into account that the money was used for a project that would benefit us both. Answers (3)
Bruce David Abel
This attorney is licensed in California.
Posted 7 months ago.
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California is a community property state which means that income assets acquired and debts incurred during the community are assets and liabilities respectively of the community. I can't tell if you are talking about two different debts. One debt arising out a student loan and another debt for a corporate project. Assuming both were incurred during the marriage, they are probably community debts. The documents would have to be reviewed in addition to other factors.
When you retain family law counsel, this should be addressed. I recommend that you seek legal counsel and do not try to dissolve the marriage on your own. Family law, division of property, and allocation of debt are technical issues of law. California certifies attorneys who have demonstrated expertise in family law. I suggest you contact a certified family law specialist for legal counsel. 
Melissa Cari Marsh
This attorney is licensed in California.
Posted 6 months ago.
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In short, student loans are NOT exempt from community debt if the loans were taken out during the marriage.
Califronia is a community property state. Consequently, all assests aquired and all debts incurred DURING the marriage (before separation) are shared equally, unless there is a prenuptial agreement that provides differently. As to authorization. No authorization is necessary. Marriage is like a partnership-- each of the partners can do as they please, with or without the consent of the other partner. Disclaimer. The above is provided for informational purposes only, does not costitute legal advice, and does not create an attorney client relationship. obamagramma
Posted 4 months ago.
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CA Family Law Act s.2641(b)(2) “a loan incurred during marriage for the education or training of a party shall not be included among the liabilities of the community…but shall be assigned for payment by the party”.
I'm working from a 2000 law book, so check out if still applicable and how law is applied. |
