My Girlfriend’s Debt of Doom

BarryW2 ....

Not to try to confuse "Sutibu" intentionally here in any way, but I thought that, from what I know and what I have read on this website, spousal income is not factored into the equation. Or is that "rule" only applicable when a person is applying for Interest Relief and not after a Student Loan defaults, etc. ? Perhaps Mark or Johnny can clarify this.

If that is the case that during the Interest Relief periods that spousal income is a fudge factor in determining eligibility for Interest Relief, then that to me is a double standard considering that once Student Loans are defaulted for example and collection agencies come after you, the spouse is not obligated to have his or her income go towards the debt because the Student Loans were incurred before marriage and thus the spouse is not responsible.

That to me is one of the bright loopholes that I hope is never shut down - that a spouse is forced to pick up the slack. Of course the day that happens, that will destroy one of the most important institutions in our society: marriage.

Here's a little tip though ..... there is nothing wrong with living common law, unless of course your religious convictions are strict such that you don't believe in living together until marriage, because until there is a marriage carved in stone in the form of public records and a marriage license then the fact you and your spouse are living together is "need to know" information that you don't have to give out. To cover your tracks when living together when someone phones, then when you are the one at home don't answer the phone and let an answering machine kick in and thus not having the Student Loan guys questioning who you are.

If you're okay with living common law, then that gives you and your spouse the perfect middle ground to have a close relationship and keeps your spouse's interest relief coming in.

"kevmetric" ....

The above statement is uncalled for and unnecessary here. We are supposed to debate things and ask questions here. We are NOT here to give people poor advice like what you gave to "sutibu". I find what you say insulting and degrading to "sutibu" because I have a girlfriend who knows about my $65,000.00 Student Loan debt and it does not bother her one bit. She loves me for me and does not judge me in any way, shape, or form. "sutibu", assuming your girlfriend is a good woman who treats you right and loves you for you then that's all that matters. It is this kind of attitude and mentality from "kevmetric" that results in so many relationships in all stages including marriage to fail. So "sutibu", don't get discouraged by this remark.

Me and my girlfriend don't care about luxuries and we don't care if we ever own a home and are relegated to renting an apartment. Me and her both know that the Student Loans are an achilles heel and we are not letting that stop us from being a happy couple and building a relationship every day.

"sutibu", what I would do as a precaution as your relationship with your girlfriend grows stronger everyday is (applicable if you plan to live together common law, etc.) is to make sure that both of your names are not on rental agreements, one of you has all mail and correspondence directed to a family address, and file your income tax  returns separately and indicate you are single. Like I said before, if you ever decide to live common law, that is need to know information.

I do apologize on behalf of all of us here where we seem to assume you were going to marry her and stuff. As for me, I was providing my two cents on the advice of BarryW2 so that way you can arm yourself with the knowledge you need in case your relationship gets very serious. Also, as soon as I seen this post again today and saw this poor advice from "kevmetric" I had to place a strong rebuttal against that.

Trust me, there are ways around some things (ie. loopholes) as long as need to know information is just that exactly and that is what this web site is all about: is getting the right advice. I don't know everything myself and I learn new things everyday and I often come here with questions of my own. However, this website is not meant to be a place where someone like "kevmetrc" tells someone else to ditch a boyfriend/girlfriend. That is very inappropriate.

Definitely do not let a debt influence romance.  That would really be surrendering to the absurdity and unfairness of the system.  Assessing spousal income is in effect a form of indentureship and is repulsive and barbaric.

One option would be after she qualifies for interest relief is for the both of you to go abroad and teach English as a second language.  It would be like an extended foreign tour and you would be able to live well enough and pay off a significant chunk of the principal, if not all of it, with both of you contributing.  It might take a couple of years.  Make sure you apply for interest relief before you leave the country though.  

Interesting thread here !!!

Finances and love..........lovely little mix........both parties have to agree what gets paid every month.....unless it is a this is your bills... and these are my bills.........and I will tell you that.... it does not work......So you are in it together.... OR you are not !!!! 

I have a little question for you.  Have you looked into what the combined income for interest relief is ??? It is hard to speculate what it will be like two years from now.... but it will be a little guide for you, you may be fretting for no reason.  You can get interest relief for quite some time......and then there is debt reduction. (BUT GOOD LUCK ON ALL THIS)

Living common-law and saying that you DO......does have it's benefits you know.... when it comes to income tax time.  Especially if one party is having a hard time finding a job.  You can use your spouse as a deduction and transfer school tuition and eligible months to your spouse.  For the majority of people who are in school and are not employed... these deductions are of absolutely no benefit......BUT to the working spouse they are.

Next little thing that I would like to share with you is that if your spouse is coming out owing  $50,000..... she will be looking for a job unless of course there is pregnacy involved......My advice would be is to make sure that this does not happen!!!!  I am not against having kids.....got two beautiful little darlings.........BUT school, debt, and newborn babies, and finding JOBS just doesn't mix well.... when you only have six months to find a good paying job before it all kicks in.

WEll anyways......now we have you married....with kids and $50,000 in debt and climbing   WElcome to your life !!!!

So if there is anyway that you can make this debt not climb to 50K than I would suggest doing that.  Could she be working part-time right now to help contribute to her cost ???  That would be my personal recommendation.  The less money you receive........the less you have to pay back.  It can be a DEBT SENTENCE for life.

Talking from experience