Can they take money from my husband for my school loan?

[tinyirishgal]

What is the name of your state (FL)?

Will try to put this in a nutshell...

I was working my way through college (very slowly) and I was happy to get my education that way. When I was 21 my Dad came to me and said that if I go away to school with my younger sister, he will be responsible for the entire school debt. I agreed, but still took a full time job AND took a partial athletic scholarship to help pay for whatever I could. Dad still asked me to take out a school loan to cover the remainder of my tuition with the promise that it would be paid back by my parents.

After college, my Dad asked me to move home and help him start his own business, which I did and was very happy to do so... However, Dad kept putting off paying the school loan saying that it would be taken care of when the business was on top.... I worked my fanny off (average 10 - 18 hours a day-- 7 days a week.) The business was starting to do quite well. Then Dad got sick... and he had to close the office, then passed away. This all happened so quick and I was left to pick up the pieces as I was Dad's "right hand gal".

When Dad got sick it was 8 years after college graduation and I was engaged to be married. We quickly got married because I wanted my Dad to walk me down the aisle. After Dad passed my husband knew my potential and agreed that I would continue the business on my own. However, it was like starting at the beginning. I created the basics of the business, but the clients were Dads.... so my income became extremely limited.

While Dad left Mom a REALLY healthy insurance policy and other assets... she does not want to continue with the school loan agreement that we made so many years ago. The school loan people will not work with me as Dad already delayed things over and over again.

FINALLY - MY QUESTION..... can anyone access my husbands assets or JOINT bank accounts and take the money from him?

Apologies for the long winded request and thanks for any advice!

Éirinn go brách!What is the name of your state (only U.S. law)?

[LdiJ]

Originally Posted by tinyirishgal

What is the name of your state (FL)?

Will try to put this in a nutshell...

I was working my way through college (very slowly) and I was happy to get my education that way. When I was 21 my Dad came to me and said that if I go away to school with my younger sister, he will be responsible for the entire school debt. I agreed, but still took a full time job AND took a partial athletic scholarship to help pay for whatever I could. Dad still asked me to take out a school loan to cover the remainder of my tuition with the promise that it would be paid back by my parents.

After college, my Dad asked me to move home and help him start his own business, which I did and was very happy to do so... However, Dad kept putting off paying the school loan saying that it would be taken care of when the business was on top.... I worked my fanny off (average 10 - 18 hours a day-- 7 days a week.) The business was starting to do quite well. Then Dad got sick... and he had to close the office, then passed away. This all happened so quick and I was left to pick up the pieces as I was Dad's "right hand gal".

When Dad got sick it was 8 years after college graduation and I was engaged to be married. We quickly got married because I wanted my Dad to walk me down the aisle. After Dad passed my husband knew my potential and agreed that I would continue the business on my own. However, it was like starting at the beginning. I created the basics of the business, but the clients were Dads.... so my income became extremely limited.

While Dad left Mom a REALLY healthy insurance policy and other assets... she does not want to continue with the school loan agreement that we made so many years ago. The school loan people will not work with me as Dad already delayed things over and over again.

FINALLY - MY QUESTION..... can anyone access my husbands assets or JOINT bank accounts and take the money from him?

Apologies for the long winded request and thanks for any advice!

Éirinn go brách!What is the name of your state (only U.S. law)?

So, the student loans were not being paid at all? You didn't pay them yourself?

Anything joint is subject to seizure or lien. Therefore you should not have joint accounts with your husband or own any joint assets until you resolve the student loan issues.

Any joint tax returns will also be subject to seizure, therefore your husband needs to be prepared to file an injured spouse form every year and accept a delay in receiving his tax refund.

How much do you owe?

[tinyirishgal]

Again, Dad said that my parents would pay any and all school debts if I went away to school to keep an eye on my little sister. I was perfectly happy working two jobs to pay for each class that I was taking before then. I only agreed because they said they would be responsible for the debt. They actually paid my sisters entire tuition (out of state tuition the entire time even though she had an apartment- she never bothered to file for instate tuition), living expenses (including a car and an apartment for 4 years). I was the only one they asked to to take out a loan,... I think it was because I was eligible for more money due to my age. That is how my tuition was paid.... I also found out after he passed that my parents received an extra check after I graduated and they kept it (for $5,000).

My Dad kept postponing the school loan payments through different methods. Again, I was working for him right out of college. I never got a paycheck, he was paying my living expenses with the prospect that when "we made it" everything would be taken care of... I was working for free basically creating an entire marketing concept that was allowing his business to thrive. He definately could not have done it without me.... His secretary(s) and accountant did all of the paperwork and maintained the contact with the school loan people because it was not my debt.... Because he was a financial advisor it all made sense to me....

But now it has become my debt, I lost all income when Dad got sick, then passed. I spent months cleaning up the aftermath of the business shut down while trying to change directions to make the business my own. So no, I have not paid a payment and currently can not afford to...

However, my business is now thriving and will soon turn a profit- when it does, I would be more than happy to make arrangements for payment. However, in the mean time, I do not feel that my husband should take the brunt of the load as all of this transpired years before I met him.

My husband is employed by a private family- they live overseas so he pays his taxes at tax time, he does not get a tax refund. I do not own any assets with him jointly. The debt is over $30,000 at this point. My concern is can anyone access his bank account to take the money from him even though he his not involved in that debt at all?

[Ohiogal]

Daddy postponing it doesn't change the fact that during this time the loan companies wanted their money and that YOU signed a contract. YOU are the one that is responsible regardless of any side deals that happened. So watch for them to seize ALL joint assets to recover the money due them. And if you decide to do a last minute transfer of all property strictly to hubby's name and out of yours, watch them win if they take you to court for fraud.