Author Topic: So guess what happened today...  (Read 3341 times)


  • 5 O'Clock Shadow
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  • Posts: 4
So guess what happened today...
« on: February 28, 2012, 02:56:44 PM »
My ex-wife and I share a joint student loan. We had consolidated our loans when we were married, so even though we're divorced they can't be "unconsolidated." I am responsible for making the payment per the terms of the decree.

I went to see that my student loan payment was went today and Hmmmm.... it had not been drafted from my account as expected. I go to the lender, and find out that my loan was put into forbearance status due to court order - my ex wife is right now filing for Chapter 7 bankruptcy. They told me I may voluntarily send payment in by mail, but no payment is due. Of course, interest will continue accumulating.

So I could either, for as long as this forbearance lasts (until her bankruptcy is closed or up to 1 year)

1) Pay the student loan payment as usual approx $380 on $59K balance at I think 3.5% interest

2) Take that $380 and pay my mortgage principal instead, $39K balance at 5.75% interest

Which is the mustachian choice? :)


  • Handlebar Stache
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  • Posts: 1424
  • Location: Metro Boston
Re: So guess what happened today...
« Reply #1 on: February 28, 2012, 04:19:13 PM »

Which is cheaper, paying her payment, or paying a lawyer to find out whether you should pay her payment?

I've heard enough stories of one department saying it's okay not to pay while another department gets to work dinging your credit.

Can you get something in writing from the lender?


Wow, a phone plan for fifteen bucks!