Help! Need advice as a co-borrower

[RN67]

In 2002 I co-signed on a student loan for my then husband. We divorced in 2003 and that loan was his obligation. Since then he has defaulted numerous times, caused me to be unable to renew nursing license and numerous other problems. I just learned that the loan is now in forbearance until feb. 2013. I have contacted the loan people numerous times and they won't remove me from it. That loan is the only thing on my credit preventing me from buying a house. My credit was 644 but has dropped to 562 due to his lack of paying. Any suggestions??

[GregB]

The divorce did not remove you from the loan. The student loan lender was not a party to your divorce and can not be affected by your divorce agreement.There is usually no point in contacting the lender until the loan is paid off. If there is a shortfall, they will eventually come after you for payment. Once it is paid off, they might be willing to remove any negatives on your record as a GW gesture.

If the Judgement of Dissolution specified that the student loan was his responsibility then your recourse is to haul him back to Family Court for violating their Court Order and/or sue him for damages. You can pay the loan off to stop the damage and then sue him for damages, the loan amount and provable damage to your credit. You can go after punitive damages in most courts other than small claims.

[RN67]

Thank you. I was afraid that was going to be the answer. Good thing my daughter only has one year of law school left.