When you finally find that special someone to spend the rest of your life with, you’ll have spent enough time with them to know their greatest strengths and most forgivable weaknesses. However, money is a hard topic to broach in any relationship and is far from a romantic conversation starter. If you discovered your spouse has more student loan debt than you thought, use the following tips to get things under control without damaging your marriage.

How to Deal With Your Spouse’s Student Loans

Do Your Research

While your spouse might not remember every last dollar they signed on to borrow, it’s easy to find out. Together, go to StudentLoans.gov and enter your spouse’s social security number. In rare cases, you might find someone has taken out fraudulent loans in their name. Request more information from the company you schedule payments through, such as Navient or Nelnet. They can send background documents, such as copies of the original signed agreements.

Refinance the Loans

When you get married, some income-based repayment plans will consider both of your incomes as one, increasing your monthly payments. To avoid rising interest, consider refinancing loans with an outside lender that offers lower rates. That way, you can take off the total amount at a slower rate without having to pay more in the long run.

Keep the Conversation Going

Finances may not be fun to discuss as newlyweds, but developing open communication habits now will strengthen your relationship. Schedule weekly or monthly sit-down discussions with your spouse where you can go over your spending habits, saving efforts, and unexpected expenses as they arise. It might be about student loans today, but it could be about medical bills or retirement funds in the future, and it’s better to be open and honest so you can tackle hardships together.

If you want to refinance your student loans or declare bankruptcy, get in touch with the team at Padgett & Robertson, Attorneys at Law. This Mobile, AL, law firm will help you get out of high-interest loans and make a fresh start with your finances. For more information on their consumer bankruptcy and debt relief services, visit their website. Call (251) 342-0264 to schedule a free consultation.

No representation is made that the quality of legal services to be performed is greater than the quality of legal services performed by other lawyers.

We are a debt relief agency. We help people file for Bankruptcy relief under the Bankruptcy Code.