Under the Uniform Fraudulent Transfer Act, any transfer of assets intended to "defraud, hinder or delay a creditor claim" that occcurs within 4 years of the date when the transfer should have reasonably been discovered, can be voided by a court and the assets thereby reached by the creditor.
So, what you are contemplating will not solve you problem.
You could, however, sue the employee directly for "interference with contract," between yourself and your ex employer, and for "intentional infliction of emotional distress,", and thereby possibly offset some or all of the loan amount due. The fact that apparently the harassment occurred, could make you claims look pretty good to a jury and you could get punitive damages from the employee. This could cause the employee to agree to release you from liability for the loan in exchange for your releasing the employee from liability for the civil claims against him.
Anyway, that would be how I might try to play it.
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