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  1. #1
    Join Date
    Jul 2013
    Posts
    1

    Default Sallie Mae Spousal Consolidated Loan

    My ex-spouse and I entered into a Sallie Mae Spousal Consolidated Loan while married. We divorced and my ex-spouse was in agreement to be financially responsible for this loan and this was incorporated in our Marital Settlement Agreement. The loan balance is significant and he is making the payments 30 days late. I am concerned because the loan balance is not decreasing due to late fees/penalties and that eventually my credit will be impacted. He says he is willing to sign the legal paperwork to remove my name from the loan in order to keep me from accessing what he says is an intrusion in his personal financial situation; he doesn't think I have a right to monitor the account and that the MSA protects me and my credit rating against this loan...he is obviously clueless. Since he is willing to sign a legal document to remove my name from the loan. Can someone tell me if this is possible since he is willing?

  2. #2
    Join Date
    Sep 2011
    Location
    OH10
    Posts
    17,019

    Default Re: Sallie Mae Spousal Consolidated Loan

    Divorce court agreements or personal agreements have no force and effect over the lender. They have two fishies on the hook. They will keep them there until the loan is paid off.

  3. #3
    Join Date
    Oct 2006
    Posts
    16,474

    Default Re: Sallie Mae Spousal Consolidated Loan

    Quote Quoting suekay
    View Post
    My ex-spouse and I entered into a Sallie Mae Spousal Consolidated Loan while married. We divorced and my ex-spouse was in agreement to be financially responsible for this loan and this was incorporated in our Marital Settlement Agreement. The loan balance is significant and he is making the payments 30 days late. I am concerned because the loan balance is not decreasing due to late fees/penalties and that eventually my credit will be impacted. He says he is willing to sign the legal paperwork to remove my name from the loan in order to keep me from accessing what he says is an intrusion in his personal financial situation; he doesn't think I have a right to monitor the account and that the MSA protects me and my credit rating against this loan...he is obviously clueless. Since he is willing to sign a legal document to remove my name from the loan. Can someone tell me if this is possible since he is willing?
    If his credit is sufficient (and its likely not if he is consistently 30 days late) he could refinance the loan to get your name off of it, but that would be the only option.

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