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Are Student Loans Considered Marital Debt

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Are student loans considered marital debt Indeed recently is being sought by users around us, maybe one of you personally. People now are accustomed to using the internet in gadgets to view image and video data for inspiration, and according to the title of the post I will talk about about Are Student Loans Considered Marital Debt.

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3 important college funding.

New orleans mortgage loans. The court must also consider whether both parties to the marriage are expected to share in the rewards of a degree or education. Student loans and parent loans borrowed before a marriage or after legal separation or divorce remain the separate responsibility of the borrower. In general any debt incurred during the duration of a marriage is considered marital debt and the responsibility for paying it off is split equally between the spouses.

At the same time loans incurred for education during the period of marriage may be considered marital debt. Anything acquired or debt created during the course of the marriage will probably be considered part of marital property. If your marriage ends soon after graduation a student loan is more likely to be considered separate debt.

This includes student loan debt. Legally any student loan debt you incurred before getting married is considered separate property and remains so after the divorce with the exception of a prenup stating otherwise. Marital property assets and debts in a kentucky divorce is to be equally divided between the parties in most cases.

So if you borrowed 70000 to attend law school before marrying your spouse that debt is yours. If you have any questions about student loan debt in a divorce proceeding please call me today at 651 647 0087 or reach out via our online contact form to set up your free consultation. If this is the case then any debt incurred while earning your degree is considered marital debt which means its the responsibility of both you and your spouse.

Student loans and parent loans borrowed during a marriage are considered to be the joint responsibility of the spouses if they lived in a community property state. Student loan debt does not magically become shared debt or community property once a couple is married. However certain factors can make student loan debt a complex issue to settle in divorce court.

Such debt is considered marital debt. But if the loan made possible a substantial income from which both spouses benefitted. Student loan debt stays with the individual who took out the loans if it was incurred before the marriage.

Student loans may be deemed marital even if the funds are not specifically used for education alone.

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