If my wife co-signs a student loan for her child from a previous marriage, can assets in my name only be collected if the student defaults?

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If my wife co-signs a student loan for her child from a previous marriage, can assets in my name only be collected if the student defaults?

I never adopted him.

Asked on August 23, 2012 under Bankruptcy Law, Michigan

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 12 years ago | Contributor

Under the laws if all states in this country, if your wife co-signs for a loan and she cannot pay it off and a judgment is entered against her, your marital (as opposed to your own separate property) are at risk for being levied upon by the judgment creditor.


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